Global Food Manufacturer Adopts SaverOne System for Supply Chain Truck Protection
July 31 2024 - 7:30AM
SaverOne 2014 Ltd. (Nasdaq: SVRE, TASE: SVRE), a technology company
engaged in disruptive transportation safety solutions, today
announced the successful completion of a pilot of SaverOne Systems’
on the customer’s trucks, an integral part of their supply chain in
Israel. The customer subsequently ordered the SaverOne System,
which will be installed on 46 trucks.
The customer is the Israeli subsidiary of one of
the world’s top food manufacturers and recently signed a contract
with SaverOne to install SaverOne systems across their full fleet
of employee vehicles in Israel.
Mr. Ori Gilboa, CEO of SaverOne
commented, “We are pleased that our pilot installation in
which the customer tested every aspect of the system has led to
this key order. This new order validates our growth strategy of
cementing relationships with some of the world’s leading companies.
The customer’s supply chain will be better protected from
disruption due to accidents caused by driver distraction. Most
importantly there remains strong international growth potential for
SaverOne with this customer. We aim to further penetrate the
customer’s global organization bringing our solution to the trucks
of their additional subsidiaries throughout the world.”
About SaverOne’s
SystemsSaverOne’s system is installed in vehicles to
provide a solution to the problem of driver distraction, as a
result of drivers using distracting applications on the mobile
phone while driving, in a way that endangers their safety, the
safety of their passengers and others on the road. This phenomenon
is considered one of the main causes of road accidents in the
world. According to the US National Highway Traffic Safety
Administration, the annual cost of road accidents just in the
United States, stands at about $870 billion each year, excluding
the costs of serious injury or death, with a quarter of those
accidents estimated to be related to the use of the mobile phones
while driving. SaverOne's technology specifically recognizes the
driver area in the vehicle and prevents the driver from accessing
distracting applications such as messaging, while allowing others
(e.g. navigation, calls), without user intervention or consent,
creating a safer driving environment.
SaverOne’s primary target markets include
commercial and private vehicle fleets, including public
transportation and buses, that are interested in reducing potential
damages and significant cost, vehicle manufacturers that are
interested in integrating safety solutions to their vehicles, and
insurance and leasing companies. SaverOne initially addresses car
fleets with focus on the Israeli, European and US markets, as well
as other markets around the world. SaverOne believes that
ultimately increased focus on monitoring and prevention of cellular
distraction systems in vehicles, in particular driven by upcoming
expected EU regulation, will likely have a dramatic positive impact
on the demand for its systems in the future.
The Company’s strategy is to provide its
technology for installation to customers in the aftermarket as well
as address OEM vehicle manufacturers, to install the Company's
protection technologies during the vehicle manufacturing
process.
SaverOne has developed a Vulnerable Road User
(VRU) solution with the potential to significantly enhance the
performance of Advanced Driver Assistance System (ADAS) sensors
through a superior ability to deal with NLoS (non-line of sight)
situations as well as adverse weather conditions and
low-visibility. SaverOne’s technology identifies the exact location
and direction of movement of the VRU via their RF footprint from
their cellphone signal. This safety solution enables the avoidance
of a collision by early detection VRUs such as pedestrians or
cyclists in the vicinity of the vehicle.
About SaverOne
SaverOne is a technology company engaged in the
design, development and commercialization of OEM and aftermarket
solutions and technologies, to lower the risk of, and prevent,
vehicle accidents.
SaverOne’s initial line of products is a suite
of solutions that saves lives by preventing car accidents resulting
from distraction from the use of mobile phones while driving.
SaverOne is also developing a sensor system for early location and
direction detection under all visibility conditions of vulnerable
road users (VRU) through their cellphone footprint.
Learn more at https://saver.one/
Forward Looking StatementsThis
press release contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act and other
securities laws that are subject to substantial risks and
uncertainties. All statements, other than statements of historical
fact, contained in this press release are forward-looking
statements. Forward-looking statements contained in this press
release include, but are not limited to, statements regarding
SaverOne's strategic and business plans, technology, relationships,
objectives and expectations for its business, growth, the impact of
trends on and interest in its business, intellectual property or
product and its future results, operations and financial
performance and condition and may be identified by the use of words
such as "anticipate," "believe," "contemplate," "could,"
"estimate," "expect," "intend," "seek," "may," "might," "plan,"
"potential," "predict," "project," "target," "aim," "should,"
"will" "would," or the negative of these words or other similar
expressions, although not all forward-looking statements contain
these words. Forward-looking statements are based on SaverOne's
current expectations and are subject to inherent uncertainties,
risks and assumptions that are difficult to predict. Further,
certain forward-looking statements are based on assumptions as to
future events that may not prove to be accurate. Many factors could
cause SaverOne's actual activities or results to differ materially
from the activities and results anticipated in such forward-looking
statements. Factors that could cause our actual results to differ
materially from those expressed or implied in such forward-looking
statements include, but are not limited to: the ability of
SaverOne’s technology to substantially improve the safety of
drivers; market acceptance of SaverOne’s protection solutions;
SaverOne’s realization of the international growth potential with
this and other customers; SaverOne’s ability to penetrate this and
other customer’s global organization with its solution; SaverOne’s
planned level of revenues and capital expenditures; SaverOne’s
ability to market and sell its products; SaverOne’s plans to
continue to invest in research and development to develop
technology for both existing and new products; SaverOne’s intention
to advance its technologies and commercialization efforts;
SaverOne’s intention to use local distributors in each country or
region that it will conduct business to distribute our products or
technology; SaverOne’s plan to seek patent, trademark and other
intellectual property rights for our products and technologies in
the United States and internationally, as well as its ability to
maintain and protect the validity of its currently held
intellectual property rights; SaverOne’s expectations regarding
future changes in its cost of revenues and our operating expenses;
interpretations of current laws and the passage of future laws;
acceptance of SaverOne’s business model by investors; the ability
to correctly identify and enter new markets; the success of the
IVECO POC Product; the impact of competition and new technologies;
general market, political and economic conditions in the countries
in which SaverOne operates; projected capital expenditures and
liquidity; SaverOne’s intention to retain key employees, and our
belief that we maintain good relations with all of its employees;
any resurgence of the COVID-19 pandemic and its impact on
SaverOne’s business and industry; security, political and economic
instability in the Middle East that could harm SaverOne’s business,
including due to the current war between Israel and Hamas; and
other risks and uncertainties, including, but not limited to, the
risks detailed in the Company's Annual Report on Form 20-F filed
with the U.S. Securities and Exchange Commission (the "SEC") on
March 25, 2024 and in subsequent filings with the SEC.
Forward-looking statements contained in this announcement are made
as of this date, and SaverOne undertakes no duty to update such
information except as required under applicable law.
International Investor Relations Contact:Ehud
Helft+1 212 378 8040saverone@ekgir.com
Israeli Investors Contact:Jonathan
EilatJohn@theinvestor.co.il
SaverOne 2014 (NASDAQ:SVRE)
Historical Stock Chart
From Aug 2024 to Sep 2024
SaverOne 2014 (NASDAQ:SVRE)
Historical Stock Chart
From Sep 2023 to Sep 2024