The pilot trial with the first 10 vehicles from Tecne
Autostrade's fleet of 3,000 marks a
significant milestone in SaverOne's recent expansion into the
Italian market
PETAH TIKVAH, Israel, Nov. 20,
2023 /PRNewswire/ -- SaverOne 2014 Ltd.
(Nasdaq: SVRE) (TASE: SVRE), a technology company specializing in
transportation safety solutions, today announced a strategically
important pilot project with Tecne, the engineering company of
Gruppo Autostrade per l'Italia, which is one of Europe's leading concessionaries for the
construction and management of toll motorways, responsible for
3,000 km of road network in Italy.
The pilot will involve the integration of SaverOne's Driver
Distraction Prevention System (DDPS) into an initial 10 vehicles
within Tecne Autostrade's fleet, which encompasses approximately
3,000 vehicles, signifying strong potential for SaverOne.
This new pilot project with Tecne aligns with SaverOne's
strategy to significantly broaden its presence in European markets.
It follows the recent strategic appointment of Mr. Tal Yihie as
Italian Country Partner, the new distribution agreement with
Milan-based GVZ, as well as
SaverOne's MOU and ongoing work with Italian-based OEM Iveco, all
of which have enhanced SaverOne's growth and sales strategy in the
region.
Ori Gilboa, CEO of SaverOne,
commented, "Our new collaboration with Tecne is a milestone in
our European market expansion and marks our first successful
penetration into a key Italian customer. This pilot underscores our
commitment to improving transportation safety throughout
Europe. Representing the 'land'
part of our 'land and expand' strategy, the goal is to 'expand'
sales to cover entire fleets following the successful pilot
completion. Building on our recent successful pilot in Spain with Cemex, as well as the recent
strategic partnerships we have established in the region, we are
well positioned in European markets to demonstrate the substantial
benefits of our technology in enhancing road safety and operational
efficiency for corporate fleets."
Mr. Gilboa, concluded, "We applaud Tecne's decision to embark on
this journey to safeguard its drivers and fleet from
distraction-induced accidents. We look forward to working with them
to more broadly implement our system across their large fleet after
the conclusion of this pilot project."
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.
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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