SaverOne signs a Commercial Agreement with a Leading Multinational in the Construction Sector
November 19 2024 - 7:19AM
SaverOne 2014 Ltd. (Nasdaq: SVRE, TASE: SVRE), a technology company
that develops and sells advanced transportation safety solutions,
today announced that following the press release issued on
September 6, 2023, and following the successful completion of a
pilot, a commercial agreement was signed with the Spanish
subsidiary of a multinational company in the construction sector.
Under the agreement, SaverOne will deploy up to 200 SaverOne
systems out of the full fleet of 500 vehicles in Spain. The first
100 systems were shipped and will be installed by mid-December
2024.
This multinational company is a leader in the
construction industry, with operations and fleets in many countries
worldwide. Its extensive transportation network includes maritime
and land logistics, supported by a global fleet of thousands of
heavy and light vehicles.
Mr. Ori Gilboa, CEO of SaverOne,
commented, "This is an important order for SaverOne,
equipping a significant truck fleet in Spain, an important European
market. Our cooperation with this customer has developed very
nicely, starting from a small pilot project in Israel two years
ago, broadening to their full fleet there, and now expanding
internationally to their Spanish division. We aim to
broaden our products and services into this customer further,
supporting safer driving in many other countries in which they
operate in Europe and America."
About the SaverOne System
SaverOne's system is installed in vehicles to
solve the problem of driver distraction, as a result of drivers
using distracting applications on their mobile phones while driving
in a way that endangers their safety and the safety of their
passengers. This phenomenon is considered one of the leading causes
of global road accidents. 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. It prevents the driver from
accessing distracting applications such as messaging while allowing
others (navigation as an example) without user intervention or
consent, creating a safer driving environment.
SaverOne's primary target markets include
commercial and private vehicle fleets interested in reducing
potential damages and significant costs, vehicle manufacturers
interested in integrating safety solutions into their vehicles, and
insurance and leasing companies. SaverOne initially addresses car
fleets with a focus on the Israeli, European, and US markets and
other markets worldwide. SaverOne believes that an increased focus
on monitoring and prevention of cellular distraction systems in
vehicles, 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 to customers in the aftermarket and address OEM vehicle
manufacturers to integrate the Company's protection technologies
during the vehicle manufacturing process.
About SaverOne SaverOne is a
technology company that designs, develops, and commercializes OEM
and aftermarket solutions and technologies to lower the risk of and
prevent vehicle accidents.
SaverOne's initial product line is a suite of
solutions that saves lives by preventing car accidents resulting
from distraction from using 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 Statements
This 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, besides those
of historical fact, contained in this press release are
forward-looking. 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, 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. However,
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 about future
events that may not prove accurate. Many factors could cause
SaverOne's actual activities or results to differ materially from
those 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 our technology to
substantially improve the safety of drivers; our planned level of
revenues and capital expenditures and our ability to continue as a
going concern; SaverOne’s ability to further broaden our products
and services t in Spain and the rest of Europe; our ability to
maintain our listing on the Nasdaq Capital Market; the ability
of our technology to substantially improve the safety of drivers;
our ability to market and sell our products; our plans to continue
to invest in research and development to develop technology for
both existing and new products; our intention to advance our
technologies and commercialization efforts; our intention to use
local distributors in each country or region that we will conduct
business to distribute our products or technology; our plan to seek
patent, trademark and other intellectual property rights for our
products and technologies in the United States and internationally,
as well as our ability to maintain and protect the validity of our
currently held intellectual property rights; our expectations
regarding future changes in our cost of revenues and our operating
expenses; our expectations regarding our tax classifications;
interpretations of current laws and the passage of future laws;
acceptance of our business model by investors; the ability to
correctly identify and enter new markets; the impact of competition
and new technologies; general market, political and economic
conditions in the countries in which we operate; projected capital
expenditures and liquidity; our intention to retain key employees,
and our belief that we maintain good relations with all of our
employees; any resurgence of the COVID-19 pandemic and its impact
on our business and industry; 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 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 Nov 2024 to Dec 2024
SaverOne 2014 (NASDAQ:SVRE)
Historical Stock Chart
From Dec 2023 to Dec 2024