Axilion reports on status of progress in technological development and business development stages

TEL AVIV, Israel, Dec. 6, 2021 /PRNewswire/ -- Axilion Smart Mobility Ltd. (TASE: AILN), the Israeli AI company leading the digital transformation of the mobility industry, published today a status and updated report about progress in the development, technological, engineering and business stages of the company.

At the same time, the company's management is in preliminary discussions with international companies in the sector in order to establish business collaboration that will be a basis for the company's sales and business development model, while forming the product's attributes, the characteristics of the target markets and building a business model. It should be stressed that because only preliminary discussions are involved, there is no certainty that those discussions will progress into a collaboration.

The X Way Digital Twin system that the company is developing is expected to allow, the modelling of a selected transport route in the city (corridor) and to provide a recommendation for the optimal timing for "green traffic signals." This system is in the very advanced development stages of calibration, validation, and Axilion estimates that, according to its original timetable, during the first quarter of 2022, the current pilot projects that the company is conducting will be completed, so that the major technological progress of the X Way Digital Twin system will be advanced enough, to allow moving ahead with business and strategic contacts, with potential customers and partners.

Company chairman Ami Barlev said, "The company's development and product teams are currently progressing at a rapid rate with the technological development procedures of the company's products - the X Way Digital Twin systems.

The company estimates that during the first quarter of 2022, the current pilot projects that the company is conducting will be completed, so that the major technological progress of the X Way Digital Twin system will be advanced enough to allow moving ahead with business and strategic contacts, with potential customers and partners.

At the same time as conducting the current ongoing routine pilot projects in Israel and Europe, as reported in the past, Axilion continues to promote and act to identify options for additional pilot projects, which would constitute a basis for advancing the development and business procedures of the company."

At a recent leading international conference in the smart transport sector, the company presented the developed architecture of its X Way system, which includes the data flow to and from the X Way, and its aim of supporting extensive collaboration with strategic partners. The company also presented visualization of the X Way and the interface that uses a simulation of the optimization processes on dynamic traffic routes.

In the company's estimation, conferences of the aforementioned kind, as well as the many additional meetings that the company is conducting, both in Israel and abroad, including the presentation of the company's technology in a detailed and visual way, represent a platform for identifying markets for potential activities for the company, becoming acquainted with possible strategic partners, and forming its business model.

About Axilion Smart Mobility Ltd.

Axilion is an Israeli AI company, which develops and builds digital cities compatible with Microsoft's Azure cloud, and which allows them to reduce air pollution, cut traffic congestion, optimize public transport and increase safety of pedestrians, bicycle and e-scooter and other micro-mobility riders. The company provides an urban infrastructure based on software and algorithms for outdated traffic light systems and provides them with the ability "to communicate" green waves on municipal roads, priority at traffic lights for public transport, and develop an AI based infrastructure for managing traffic light infrastructures as a dynamic, synchronized and configured network that regulates traffic to a range of various transport means in the city, including connected vehicles and autonomous vehicles. In the cities in which the company operates today, a significant reduction in air pollution has been measured, while journey times have been cut by up to 47%.

The unique technology developed by Axilion, including Digital Twin video technology combined with AI, allows real-time monitoring of traffic patterns as well as simulation and integration of traffic light software on roads, neighborhoods and even the entire city. In addition, the company develops automatic planning solutions for traffic light programs for roads and complete cities, using AGI technology and reinforcement learning, with funding from the Israel Innovation Authority and teams of AI experts.

Visit Company website: https://axilion.com/about/

SOURCE Axilion Smart Mobility