SaverOne Partners with Global Construction Leader for Safety

SaverOne Signs Major Agreement for Fleet Safety Implementation

200 SaverOne systems to be installed for enhanced safety

SaverOne 2014 Ltd. (Nasdaq: SVRE, TASE: SVRE), a pioneering technology firm dedicated to improving transportation safety, has embarked on a significant collaboration with a prominent multinational company in the construction sector. This agreement comes after the successful execution of a pilot program and signifies a major step forward in ensuring driver safety on a large scale.

Implementation Details of the Agreement

As part of the agreement, SaverOne will deploy a total of 200 advanced safety systems across the subsidiary's fleet of 500 vehicles based in Spain. The first batch of 100 systems has already been dispatched and is anticipated to be installed by mid-December, marking a milestone in the company’s European expansion efforts.

Importance of This Partnership

The partner company, recognized as a leader in the construction field, boasts a comprehensive logistics network that effectively spans both maritime and land transport, utilizing a diverse fleet that includes both heavy and light vehicles. This extensive transportation network underscores the critical need for enhanced safety measures, which SaverOne is uniquely positioned to provide.

Statements from Leadership

Mr. Ori Gilboa, CEO of SaverOne, remarked on the significance of this order, stating, "Equipping this substantial truck fleet is a testament to our growing influence in the European market. Our partnership has evolved remarkably, transitioning from a pilot initiative in Israel to expanding our collaboration to their entire fleet and now stretching internationally into Spain. Our goal is to further develop our services, enhancing driver safety across multiple countries in Europe and America.”

Understanding the SaverOne System

The SaverOne system is designed to tackle the issue of driver distraction by preventing access to distracting applications while driving. This intervention addresses one of the foremost causes of road accidents globally, as identified by numerous road safety authorities. In the United States alone, road accidents incur an annual cost exceeding $870 billion, with a substantial portion linked to mobile phone usage while driving. SaverOne’s innovative technology focuses on identifying the driver’s area within the vehicle and obstructing access to apps that could divert their attention, while still permitting access to crucial navigation tools, thereby fostering a safer driving experience.

Target Markets for SaverOne

SaverOne's primary target markets include commercial and private vehicle fleets that prioritize safety and cost reduction, as well as car manufacturers aiming to integrate advanced safety solutions in their products. Additionally, companies in the insurance and leasing sectors are key demographics for SaverOne’s offerings. The company originally focused its services on the Israeli market, but now aims to make significant inroads into European and US markets. With anticipated regulations in the EU surrounding cell distraction systems expected to boost demand, SaverOne is prepared to meet these emerging needs.

Company Strategy and Growth Outlook

The overarching strategy of SaverOne involves not only providing cutting-edge technology to its customers in the aftermarket but also engaging directly with original equipment manufacturers (OEMs) to incorporate its protective technologies into new vehicle models during manufacturing. This dual approach positions SaverOne favorably within an evolving market landscape.

About SaverOne
SaverOne is committed to designing, developing, and commercializing innovative solutions that drastically reduce the risks associated with roadway accidents caused by driver distractions. The company's initial offerings focus on preventing accidents related to mobile phone use, and it is currently advancing a system aimed at early detection of vulnerable road users by leveraging their cellphone signals, ensuring a comprehensive safety net.

Frequently Asked Questions

What is the purpose of the SaverOne system?

The SaverOne system is designed to minimize driver distractions by preventing access to distracting mobile applications while driving, enhancing road safety.

How many systems will be deployed in Spain?

Under the recent agreement, SaverOne will deploy 200 systems in Spain, focusing on a fleet of 500 vehicles.

What markets does SaverOne target?

SaverOne primarily targets commercial and private vehicle fleets, vehicle manufacturers, as well as insurance and leasing companies.

Why is driver distraction a concern?

Driver distraction is a leading cause of road accidents and can significantly increase the risk of costly accidents, impacting safety and insurance costs.

What is SaverOne's overall strategy?

SaverOne aims to integrate its safety technologies into both the aftermarket and during the vehicle manufacturing process, positioning itself for growth in key markets.

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