PETAH TIKVAH, Israel, Oct. 5, 2023
/PRNewswire/ -- SaverOne 2014 Ltd. (NASDAQ: SVRE) (TASE:
SVRE), a technology company specializing in transportation
safety solutions, today announced the win of six new customers,
advancing SaverOne's footprint in the private bus fleet industry.
The private bus fleet vertical, especially buses carrying school
children, is key for SaverOne, representing significant growth
potential internationally and has become an area of strategic focus
for the Company.
SaverOne reported initial orders of 90 new installations of its
in-cabin Driver Distraction Prevention Solution (DDPS), primarily
on school buses. This represents only a portion of the full bus
fleets of these customers and there remains strong potential for
further orders in the coming weeks.
Ensuring passenger safety in both public and especially private
and school bus transportation is of paramount importance.
SaverOne's DDPS removes a significant risk factor and a primary
cause of road accidents by selectively disabling the driver's
mobile distractions. This safeguards passengers and other road
users while preserving essential, non-distracting uses in
compliance with each bus company's strict safety guidelines.
Ori Gilboa, CEO of SaverOne,
commented, "After securing our major deal earlier this year for
over 1,200 vehicles with leading Israeli public bus company Elektra
Afikim, we are continuing to grow and add new customers to our
roster in this important vertical. We recently identified the
private and school bus transportation verticals as a key strategic
focus for SaverOne. We are now seeing solid and increasing traction
among bus companies, especially those transporting and responsible
for the safety of school children. As these new and growing orders
demonstrate, customers and potential customers are increasingly
recognizing the value of our solutions, both in Israel and internationally. Preventable
accidents continue to claim lives and cause injuries. Our DDPS
ensures that drivers remain focused on driving safely and
undistracted, mitigating a significant risk."
About the SaverOne System
SaverOne'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 and the safety of their passengers. 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), without user intervention or consent, creating a
safer driving environment.
SaverOne's primary target markets include commercial and private
vehicle fleets 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.
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 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, 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, 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 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; 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 April 27, 2023 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 8040
saverone@ekgir.com
Israeli Investors Contact:
Jonathan Eilat
John@theinvestor.co.il
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SOURCE SaverOne