SaverOne 2014 Ltd. (Nasdaq: SVRE, TASE: SVRE), a technology company
that develops and sells transportation safety solutions, today
announced that it has signed an OEM agreement with IVECO, the brand
of Iveco Group N.V. (EXM: IVG) that designs, manufactures and
markets light, medium and heavy commercial vehicles. The agreement
seals the collaboration to develop a solution to prevent driver
distraction from cellphone use.
The OEM agreement covers the integration of
SaverOne’s safety technology within IVECO’s vehicles through their
manufacturing line. Initially, throughout 2024, SaverOne’s software
will be integrated within IVECO’s hardware. Future further
evolutions, may include the integration of SaverOne’s mobile app
with IVECO's mobile app, and SaverOne’s hardware and software
within IVECO’s assembly line. The first IVECO vehicles with the
integrated SaverOne software solution are expected to be delivered
this year.
IVECO and SaverOne will also collaborate within
their service centers to offer comprehensive support for drivers
that use this technology.
SaverOne’s solution will be provided to IVECO’s
customers under a software-as-a-service model. It will be included
in IVECO’s services portfolio and will be delivered to customers
under IVECO’s commercial responsibility. Technical development and
integration will be delivered by SaverOne.
Fabrizio Conicella, Head of Digital and
Advanced Technology, Iveco Group, commented, “We are
delighted to enter into this partnership with SaverOne, a
collaboration that underscores Iveco Group’s dedication to leading
the way in transportation safety and innovation. Integrating the
SaverOne technology into our trucks advances our efforts to provide
our customers with not only the most reliable and efficient
vehicles on the market, but also the safest.”
Ori Gilboa, CEO of SaverOne,
stated, "We are thrilled to sign this milestone OEM
agreement with IVECO, a leading European vehicle manufacturer. We
believe that this agreement represents a very significant strategic
move that strongly expands our footprint in European markets. It
works to integrate our advanced driver safety solution into IVECO's
manufacturing line, which allows us to directly tap into the IVECO
global customer base. We look forward to a fruitful collaboration
with IVECO and are excited about the positive impact our joint
efforts will have on making roads safer for everyone."
About IVECOIVECO is the brand
of Iveco Group N.V. (EXM: IVG) that designs, manufactures and
markets a wide range of light, medium and heavy commercial
vehicles, off-road trucks and vehicles suitable for any body
type.
It constantly innovates and extends its product
portfolio to provide every customer with the vehicle that matches
their mission precisely. Its full-line offer is designed around the
Driver’s needs to deliver an excellent experience with a focus on
safety and comfort. A wide range of advanced digital,
connectivity-enabled services developed to help fleet owners run
their fleet efficiently enhance IVECO’s complete transport
solution. IVECO pursues its decarbonisation strategy through a
multi-energy approach that includes the further development of
bio-methane, battery electric and fuel cell technologies.
IVECO operates 7 manufacturing plants and 8
research and development centres. It counts on 3,500 sales and
service points in over 160 countries, which guarantee technical
support wherever an IVECO vehicle is at work.
IVECO drives the road of change by powering the
transformation of the transport industry, propelled by the ambition
to be the most reliable partner and full-line player for its
customers.
About the SaverOne
SystemSaverOne’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, 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.
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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