Galileo Tech Ltd., which develops and commercializes solutions for managing smart cities and solutions in the field of fintech, reports the signing of a commercial-technological cooperation agreement with Afcon Control and Automation from the Afcon Public Holdings Group, to create a variety of services in the urban space. As part of the collaboration that will unite the technological infrastructures of the two companies, the parties will be able to offer end customers including municipalities, regional councils, government bodies and commercial companies, unique and advanced municipal services and applications.
Under the agreement, a joint pilot will be carried out in Israel in a number of cities and localities where Afcon systems are currently installed. The pilot will include the deployment of Galileo’s open platform, the Coral Reef, on top of Afcon’s systems, combining smart end units, communication units and a variety of sensing devices. The parties will agree on the implementation and demonstration of relevant applications using the data collected. The Coral Reef platform will provide a development environment and the possibility of creating and uploading an unlimited number of applications that share resources and information extracted from the sensors in the urban space.
The pilot will serve as an experimental site and demonstration of the common system capabilities, as a first step towards commercializing the system widely in commercial projects in Israel and abroad. The pilot will be a “sandbox” for parties and application developers from Israel and around the world The services offered to end customers will be used for a wide range of areas, including: ensuring public order, checking traffic congestion and finding parking spaces, municipal waste management, municipal payments, control of municipal lighting, air pollution monitoring, Weather forecasting, security of institutions / houses / buildings / halls / factories and provision of discounted WiFi surfing services to end customers.
To the extent that the pilot is defined as technologically and commercially successful, the parties will cooperate exclusively for the promotion and implementation of the above solutions in Israel, with Afcon serving as an integrator for this activity. In addition, the parties will examine joint activities abroad, including joint tenders. The commercial terms will be agreed within the framework of the detailed agreement within 45 days, including the distribution of revenues related to the cooperation.
Galileo Tech CEO, Shlomi Topaz: “We welcome the contract with the Afcon Group, which is a leader in its field in Israel and believe that this is an innovative joint project that will bring great value for efficient and cost-effective management of cities in Israel and abroad, while preserving the environment, residents’ security and quality Internet services. We are preparing for the start of the first joint pilot in a short time in Israel in a number of cities. We believe that the results will speak for themselves and open an important door for understanding the great economic potential for end users and entities that will experience the common system. ”