SaverOne Expands Reach with New Pilot in Malta Public Transport

SaverOne Launches Innovative Pilot Project

Petah Tikvah, Israel — SaverOne 2014 Ltd. (NASDAQ: SVRE, TASE: SVRE), a pioneer in transportation safety technology, is embarking on an exciting new journey by initiating a pilot project with the Malta Public Transport Company (MPTC). This collaboration comes as part of MPTC's dedication to exploring and implementing new safety technologies within its transport services. The groundbreaking installation of the SaverOne system will take place in conjunction with the regional distributor, GVZ Components, over the upcoming months.

Enhancing Safety in Public Transportation

The Malta Public Transport Company plays a crucial role in the country, providing public transport services that integrate various cities, towns, and villages into a unified network. Operating a fleet of approximately 450 buses, MPTC aims to enhance the safety of its passengers. If the pilot evaluation yields successful results, there's a significant potential for implementing the SaverOne system across MPTC's entire fleet by the year 2025.

CEO's Vision for the Future

Mr. Ori Gilboa, the CEO of SaverOne, expressed his enthusiasm about this new partnership, stating, “We are thrilled to have the opportunity to collaborate with Malta’s leading bus service. This pilot project not only marks our entry into a new geographical market but also emphasizes our growing influence across European and international platforms. We are optimistic about the evaluation and eager to expand our sales footprint in Malta and beyond.”

About SaverOne's Technological Solution

SaverOne's cutting-edge system is designed to combat driver distraction, a persistent issue resulting from mobile phone usage while driving. This distraction not only jeopardizes the safety of the driver but also endangers passengers and others on the road. Such incidents are a leading cause of accidents globally. Notably, the US National Highway Traffic Safety Administration reports that road accidents in the United States inflict an annual financial strain of approximately $870 billion. A considerable fraction of these accidents stems from mobile phone usage while driving.

How SaverOne's Technology Works

The innovative technology employed by SaverOne identifies the driver's zone within the vehicle, blocking access to distracting applications like messaging while still allowing essential functions such as navigation and phone calls. This operation occurs seamlessly and does not require user intervention, significantly enhancing safety on the roads.

Target Markets and Future Potential

SaverOne focuses on various critical markets, including commercial and private vehicle fleets, which encompasses public transport systems like MPTC. The company is also making strides to integrate its safety solutions with vehicle manufacturers and engage with insurance and leasing firms. Currently, SaverOne prioritizes market penetration in regions such as Israel, Europe, and the United States, with aspirations to explore opportunities globally.

The Impact of Future Regulations

SaverOne foresees an increasing demand for its systems, especially with emerging EU regulations aimed at monitoring cellular distraction among drivers. This shift could contribute positively to the market dynamics and pave the way for broader acceptance of SaverOne technologies.

Investment in Advanced Safety Technologies

The strategic approach of SaverOne revolves around ensuring its technology is accessible for installation in the aftermarket, while also partnering with OEM vehicle manufacturers to integrate its safety solutions during vehicle production. This dual strategy aims to maximize the company's outreach and impact.

Innovations for Vulnerable Road Users

Additionally, SaverOne has developed an advanced Vulnerable Road User (VRU) safety solution. This technology aims to enhance the efficacy of Advanced Driver Assistance Systems (ADAS) by improving their functionality in challenging scenarios, such as adverse weather or low visibility conditions. By harnessing RF signals from cellphones, SaverOne's technology can accurately ascertain the location and movement direction of VRUs, like pedestrians or cyclists, significantly reducing the risk of collisions.

About SaverOne

SaverOne is committed to designing, developing, and commercializing solutions that aim to minimize the risks associated with vehicle accidents. Their innovative product line is dedicated to saving lives by preventing distractions caused by mobile phone use while driving. Moreover, they are in the process of advancing sensor systems for accurate detection of VRUs across diverse visibility scenarios, leveraging cellphone footprints.

Frequently Asked Questions

What is the main goal of SaverOne's new pilot project?

The primary objective of the pilot project is to evaluate the effectiveness of SaverOne's safety solutions for the Malta Public Transport Company's bus fleet.

How does SaverOne's technology enhance driving safety?

SaverOne’s technology prevents access to distracting apps on drivers' mobile devices while retaining functionality for navigation and calls, creating a safer driving environment.

What are the future prospects for SaverOne in Europe?

With ongoing evaluations and potential implementations in Malta, SaverOne aims to expand its presence and increase market acceptance in Europe.

Who are the primary customers of SaverOne's solutions?

SaverOne targets commercial vehicle fleets, OEM manufacturers, as well as public transportation entities looking to improve safety and reduce costs.

How might EU regulations influence SaverOne’s market opportunities?

Upcoming EU regulations focused on monitoring driver distractions could increase demand for SaverOne's technology, enhancing market opportunities.

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