SaverOne Engages with Top-tier Global Consultancy Firm to Develop Strategic Plan for its Vulnerable Road User (VRU) Solution.
March 21 2024 - 8:45AM
SaverOne 2014 Ltd. (Nasdaq: SVRE, TASE: SVRE), a technology company
that develops and sells transportation safety solutions, today
announced that it has signed an agreement, partnering with a
top-tier global consultancy firm, to support the development of a
business model around SaverOne’s Vulnerable Road User (VRU)
solution.
The initiative focuses on assessing the
potential of the VRU solution and building a full understanding of
the solution's value proposition and market potential within the
automotive industry. Deliverables include a comprehensive business
plan including an analysis of the competitive landscape as well as
a detailed approach for developing the VRU business either within
SaverOne or via a spin-off. One of the goals of this strategic
initiative is to enhance shareholder’ value.
SaverOne’s VRU solution has the potential to
significantly enhance the performance of Advanced Driver Assistance
System (ADAS) sensors (camera, lidar and radar) through its
superior ability to deal with NLoS (non-line of sight) situations
as well as adverse weather conditions and low-visibility. The
solution detects VRUs such as pedestrians or cyclists in the
vicinity of the vehicle, to avoid and prevent a collision.
SaverOne’s technology identifies the exact location and direction
of movement of the VRU via their RF footprint from their cellphone
signal.
Ori Gilboa, CEO of SaverOne,
stated, "Leveraging our technology, our VRU sensor brings
new and unique safety capabilities to the large and significant
ADAS market. We believe this important initiative will enable us to
further develop the business around our VRU sensor, enabling us to
take well- considered strategic steps. We are committed to
developing a robust business for our VRU protection solution and
would like to cooperate with strategic partners and investors to
implement it."
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, 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 8040saverone@ekgir.com
Israeli Investors Contact: Jonathan
EilatJohn@theinvestor.co.il
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