Customer’s entire fleet of trucks will be protected against driver distraction by SaverOne
Petah Tikvah, Israel, November 28, 2022 /PRNewswire/ — SaverOne 2014 Ltd. (Nasdaq: SVRE, TASE: SVRE), a company developing and deploying transportation safety and advanced driver assistance systems (ADAS) technologies and solutions, today announced that following a successful trial, a leading global chemical manufacturer headquartered in Israel with more than fifty production sites in several countries, will equip its entire fleet of trucks with the SaverOne system to protect against distractions caused by mobile phones.
After extensive testing on a small portion of their fleet, the customer enrolled their entire fleet of seventy heavy trucks in the SaverOne protection system. While avoiding distracting phone use while driving, SaverOne’s platform also allows the customer’s fleet manager to continuously review and monitor advanced driver behavior.
Mr. Or GilboaCEO of SaverOne commented, “We are particularly proud that this type of customer has decided to protect their entire fleet with our system after its initial trial. They join many other leading companies with a strong commitment to driver safety and believing in our Additionally, we are in discussions with the customer to expand the project to employee private vehicles around the world, which represents significant additional potential and continued benefit from this win.”
About the SaverOne system
SaverOne’s system is installed in vehicles to provide a solution to the problem of driver distraction resulting from drivers using distracting applications on the mobile phone while driving in a manner that endangers their safety and that 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 traffic accidents just in United Statesis located approximately $870 billion each year, excluding the costs of serious injury or death, with a quarter of these accidents estimated to be related to mobile phone use while driving. SaverOne’s technology specifically recognizes the driver’s area in the vehicle and prevents the driver from accessing distracting applications such as messaging, while allowing others (eg navigation), without user intervention or consent , creating a safer driving environment.
SaverOne’s primary target markets include commercial and private vehicle fleets that want to reduce potential damage and significant costs, automakers that want to integrate safety solutions into their vehicles, and insurance and leasing companies. SaverOne initially targets automotive fleets with a focus on the Israeli, European and US markets, as well as other markets around the world. SaverOne believes that ultimately the increased focus on monitoring and preventing cellular distraction systems in vehicles, particularly due to expected upcoming European regulations, is likely to have a significant positive impact on demand for its systems in the future.
The Company’s strategy is to provide its installation technology to aftermarket customers as well as OEM vehicle manufacturers, to install the Company’s protection technologies during the vehicle manufacturing process.
About Saver One
SaverOne is a technology company engaged in the design, development and marketing of OEM and aftermarket solutions and technologies to reduce and prevent the risk of traffic accidents.
The initial line of SaverOne products is a suite of solutions that save lives by preventing car accidents resulting from the distraction of mobile phone use while driving. SaverOne is also developing a sensor system for early location and direction detection in all visibility conditions of vulnerable road users (VRUs) through their mobile phone footprint.
Learn more at https://saver.one/
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 in this press release can be identified by the use of words such as “anticipate”, “believe”, “intend”, “could”, “estimate”, “expect”, “have the ‘intent to’, ‘seek,’ ‘may’, ‘could’, ‘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 uncertainties, risks and assumptions. that are difficult to predict. In addition, certain forward-looking statements are based on assumptions about future events which may not prove to be accurate. Many factors could cause SaverOne’s actual operations or results to differ materially from activities and anticipated results in these d forward-looking statements. Factors that could cause our actual results to differ materially from those expressed or implied by these forward-looking statements include, but are not limited to: the ability of our technology to significantly improve driver safety; our expected level of revenue and capital expenditures; our ability to market and sell our products; our plans to continue to invest in research and development to develop technology for existing and new products; our intention to advance our technologies and commercialization efforts; our intention to use local distributors in each country or region where we operate to distribute our products or technology; our plan to obtain patents, trademarks and other intellectual property rights for our products and technologies in 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 operating expenses; our expectations regarding our tax classifications; interpretations of current laws and the adoption of future laws; investor acceptance of our business model; 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; capital expenditures and projected cash; our intention to retain key employees and our belief that we maintain good relationships with all of our employees; the impact of the COVID-19 pandemic and resulting government actions on us; and other risks and uncertainties, including those listed in the section entitled “Risk Factors” in the final prospectus on Form 424b4 filed with the Securities and Exchange Commission on June 6, 2022. The forward-looking statements contained in this announcement are made as of this date, and SaverOne undertakes no obligation to update such information except as required by applicable law.
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