(NASDAQ: SVRE) Profile Sept

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SaverOne Launches Four Pilot Projects with Customers of Volvo Buses Mexico

4,600 systems have been ordered by customers as of March 12, 2024 (of which approximately 3,750 have been installed)

Egged Tours Broaden Installation of SaverOne System Across its Entire Bus Fleet

SaverOne launched its first European pilot with Cemex in Spain

READ THE INVESTOR PRESENTATION HERE

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Hello Everyone,

We have another profile that we wanted to bring to your attention immediately.

We profiled this company a few times in the past year. You may remember it from back in Late November when we showed you this one while it was siting at just .36.  It went on a massive run throughout December and January and just recently hit 1.22 for an incredible 200%+ run over several weeks. We saw it run again in February up to 1.49.

This has been one of the biggest profiles of the past year on news letter.

Pull up SVRE immediately.

It has pulled back as of late with a lot of the small caps but may be in a position where it may have bottomed out here around these levels.

You are going to want to research it right away before the open.

Founded in 2014 with a mission to make roads safer for drivers, passengers, and pedestrians alike, SaverOne develops cellular network-based technological solutions for reducing road accidents.

Our innovative system for identifying and limiting the use of certain apps on mobile devices while operating a vehicle has already been widely adopted by dozens of companies in Israel.

SaverOne is also developing an additional system that can detect and warn the driver of VRU’s (Vulnerable Road Users and pedestrians) crossing when the driver’s field of vision is extremely limited. This system is currently in advanced stages of development.

Located in Israel, the company currently employs over 50 employees in its research and development, sales, business, operations, and support departments.

This one has traded on the NASDAQ since 2020 (TASE: SVRE Nasdaq: SVRE)

SaverOne’s product portfolio addresses two main automotive segments:

  • After-market segment: protecting existing cars, trucks, and buses; working with vehicle fleets.
  • Pre-Market OEM segment: integrating SaverOne’s Protection technology in the vehicle assembly line.

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.

SaverOne Launches Four Pilot Projects with Customers of Volvo Buses Mexico

PUBLISHED

SEP 17, 2024 8:00AM EDT

Petah Tikvah, Israel, Sept. 17, 2024 (GLOBE NEWSWIRE) — SaverOne2014 Ltd. (Nasdaq: SVRE, TASE: SVRE), a technology company engaged in disruptive transportation safety solutions, today announced the launch of four new pilot projects with customers of Volvo Buses Mexico. This follows the OEM agreement signed with Volvo Group in March 2024, which allows for the SaverOne Safety Solution to be pre-installed following integration into Volvo’s assembly line as well as an aftermarket retrofit installation.

The pilots cover a total of 20 buses which will be retrofitted with SaverOne’s innovative technology, which is designed to actively prevent bus drivers from being distracted by their mobile phones. The pilots will be conducted in two regions: Mexico City, focusing on intercity buses, and Monterrey, focusing on city buses.

Volvo Buses, a subsidiary of the major Swedish vehicle maker Volvo Group, is one of the world’s largest bus manufacturers, offering a complete range of heavy buses for passenger transportation.

Mr. Ori Gilboa, CEO of SaverOne, commented, “We are incredibly proud of our developing collaboration with Volvo Buses, a major bus manufacturer and leader in the transportation sector. These pilot projects in Mexico are the initial fruits of our recent OEM agreement with Volvo Group and marks a significant step forward in SaverOne’s ongoing activities to broaden its global reach. Furthermore, this OEM agreement provides for significant potential to extend our collaboration with other Volvo subsidiaries throughout the world.”

Continued Mr. Gilboa, “These four new customers are important bus operators in Mexico and the potential from these pilots are hundreds of additional buses. As these pilots demonstrate, in 2024, we are becoming increasingly successful at broadening our operations across multiple regions, including Europe, the United States and Mexico. We see immense further potential in our Volvo Bus collaboration, and we are excited about the possibilities it holds for the future.”

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How the system works

When the driver enters the vehicle, the system detects the cell phone in the driver’s area and connects to the SaverOne application.

When the vehicle starts moving, SaverOne shifts the phone to safe mode, preventing the use of all distracting applications (such as text messages or email), while allowing the use of non-distracting applications (companies can pre-define which applications can be used while driving).

Other passengers in the car can use their cell phones freely. If the phone in the driver’s area is not connected to the system, an alert sounds, reminding the driver to reconnect or place the phone outside the driver’s area.

While in Safemode, incoming messages are not displayed on the phone. Instead, the sender receives a pre-defined automatic message, such as: “I am driving and protected by SaverOne. You are welcome to call” (the message can be customized).

The Safemode is canceled once the vehicle stops, allowing full phone use.

When the engine is turned off, the driver will see all the messages that were not displayed while driving. The Child Reminder feature is activated, reminding the driver to check the back seat.

Pilot Programs Grow

Take penetrations into new markets and customers for starters. During the year the tech company launched pilot projects in the U.S., Europe and the Gulf region. As of the end of August, more than 4,300 new systems have been ordered by customers with about 3,000 already installed.

Some of its key alliances include MOU with IVECO, the commercial vehicle brand of Iveco Group, which it inked in the summer. IVECO will integrate SaverOne’s technology into their vehicles, aimed at enhancing road safety. SaverOne reports that it expects a final OEM deal to be signed between SaverOne and IVECO in the near term.

More recently, SaverOne announced a new pilot with Milan-based Systems Logistics, an Italian designer, manufacturer and provider of automated warehousing with customers in Europe, America and Asia. The company has a fleet of over 100 vehicles. The pilot is taking place on a number of vehicles from Systems Logistics’ fleet. If the pilot goes off without a hitch, Systems Logistics could add SaverOne’s technology to more vehicles in its fleet.

It marks the second recent pilot SaverOne has in Italy. SaverOne also announced that Tecne Autostrade, the engineering company of Gruppo Autostrade per l’Italia, a leading concessionary in Europe for the construction and management of toll motorways started a pilot program with SaverOne. The pilot will involve the integration of SaverOne’s Driver Distraction Prevention System (DDPS) into an initial 10 vehicles. The whole Tecne Groupfleet comprises about 3,000 vehicles, underscoring the potential strong opportunity for SaverOne. The region has been a focus area for SaverOne which also has deals with Italantin Country Partner and GVZ as well.

SaverOne Reports First Half 2024 Results

PUBLISHED

AUG 27, 2024 4:01PM EDT

PETAH TIKVAH, Israel, Aug. 27, 2024 (GLOBE NEWSWIRE) — SaverOne 2014 Ltd. (Nasdaq: SVRE, TASE: SVRE), a company developing and deploying transportation safety and advanced driver-assistance systems (ADAS) technologies and solutions, today presented its results for the first half ended June 30, 2024 and shared recent business updates.

Recent Highlights

  • Significant reduction in first half operating expenses of NIS 2.3 million ($612 thousand), reducing operating loss and cash burn;
  • 4,800 systems have been ordered by customers as of August 26, 2024, of which approximately 3,750 have been installed;
  • OEM Agreement Signed with Volvo Group to install SaverOne Systems during the manufacturing process in Volvo Buses in Mexico;  
  • OEM Agreement Signed with IVECO to develop a software-as-a-service solution to prevent driver distraction from cellphone use, with first IVECO vehicles with integrated SaverOne software solution expected to be delivered in early 2025;
  • Announced spinoff to advance development on the VRU Sensor Solution with estimated annual market potential of $1.5 billion by 2035;
  • Purchase order from IVECO for a proof-of-concept (POC) for the VRU sensor for their Advanced Driver-Assistance System (ADAS);
  • Launched a number of pilot projects for fleets in the United States, Latin America and Europe.

Financial Highlights

  • Revenues of NIS 483 thousand (~$129 thousand) in the first half of 2024 versus NIS 1.5 million (~$395 thousand) in the first half of 2023;
  • Operating expenses reduced to NIS 15.8 million ($4.2 million) in the first half of 2024 versus NIS 18.1 million ($4.9 million) in the first half of 2023;  
  • Net loss reduced to NIS 16.3 million (~$4.4 million) in the first half of 2024 versus NIS 17.8 million in the first half of 2023 (~$4.8 million);
  • June 30, 2024 cash and cash equivalents of NIS 11.3 million (~$3.0 million).

Management Comment

Commented Mr. Ori Gilboa, CEO of SaverOne, “2024 has been challenging for SaverOne due to longer sales cycles in our home market of Israel. On the positive side, we are witnessing a broadening of our activities internationally through our partners, OEMs and new regional distributors. We are working to expand our global footprint with key existing customers by penetrating their international subsidiaries. We have also initiated new pilot projects in the United States, Europe and Latin America and have also secured initial commercial orders. International expansion requires significant effort, and in 2024, we have made substantial progress in establishing SaverOne as a global business. We remain optimistic and expect a renewed growth trend in the coming months.”

Continued Mr. Gilboa, “During the quarter, we announced our plans for a spinoff company focused on advancing our VRU (Vulnerable Road User) sensor solution, which represents a significant opportunity for us. This decision was based on a comprehensive analysis by a world leading consultancy firm, which estimated the addressable annual market potential for our VRU product at $1.5 billion by 2035. Additionally, we received a new purchase order for a proof-of-concept (POC) from IVECO to integrate our VRU sensor into their Advanced Driver Assistance System (ADAS), further enhancing vehicle safety. We believe that our VRU presents significant value for SaverOne long-term.”

Recent Developments in the First Half of 2024

  • SaverOne to Install its System Across Entire Strauss Group Fleet. Strauss Group is one of the largest food manufacturers in Israel with a fleet of over 80 food delivery trucks. The new order covering the entire Strauss delivery fleet, follows a successful trial on 17 Strauss trucks, in which Strauss’ management noted a statistically significant reduction in accident rates in the trucks that had the SaverOne system installed.
  • SaverOne Signed Contract to Install its Systems on 300 Buses of Leading Israeli Transportation Company Bon Tour.  Bon Tour is one of the leading private transit companies in Israel, operating hundreds of buses and providing transportation solutions and travel services to some of the largest companies in the country.  
  • Leading Israeli Transportation Company Egged Tours Selects SaverOne’s Driver Distraction Solution System for a contract to install 300 SaverOne Systems on all of its buses. Egged Tours, operating the largest tour bus fleet in Israel, is a subsidiary of Egged Transportation, Israel’s largest bus company, with over 3,000 buses operating nationally with a vast network of urban and intercity routes.  
  • SaverOne Granted New US Patent Strengthening its IP portfolio Supporting its Transportation Safety Solution. This marks SaverOne’s 23rd patent and describes SaverOne’s advanced algorithms and its selective blocking mechanism to prevent the driver from accessing distracting phone functionalities while the vehicle is in motion.  
  • SaverOne Launches New Pilot Project in the United States with Motor Supply, Inc., a trucking company based in Columbia, South Carolina. SaverOne’s System was installed on a portion of Motor Supply’s fleet of sixteen trucks. The pilot is expected to run over a period of 12 months and, if successful, could potentially expand to the rest of the fleet and any future trucks that Motor Supply may operate.
  • GB Tours to Expand its Installation of the SaverOne System Across its Full Fleet of Public Transportation and Tour Buses. GB Tours is a leading Israel-based public transportation company that operates public transportation lines as well as tour buses with a fleet of about one hundred buses. This order for 77 buses follows the conclusion of a successful pilot of the SaverOne System on 20 of GB Tours’ buses.
  • OEM Agreement Signed to Install the SaverOne Safety Solution in Volvo Buses in Mexico. SaverOne’s Safety Solution will be installed in new Volvo buses that are manufactured for the Mexican market. The agreement provides Volvo with two years of exclusivity in the OEM market in Mexico. SaverOne will also provide twelve months of service and support for Volvo bus customers. After that period, Volvo bus customers will continue to receive SaverOne’s comprehensive service package for an on-going monthly fee.
  • SaverOne Signs Milestone OEM Agreement with IVECO to develop a solution to prevent driver distraction from cellphone use. 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.    
  • SaverOne Expands its Collaboration with IVECO with its Vulnerable Road User Solution. Receives New Purchase Order for a vulnerable road user (VRU) proof-of-concept (POC). The POC will present SaverOne’s radio frequency (RF)-based solution that could be integrated in the vehicle Advanced Driver Assistance System (ADAS) to enhance vehicle safety. This solution is expected to be installed in one of IVECO’s vehicles in Europe in early 2025.
  • SaverOne Granted New European Patent encompassing SaverOne’s innovative system and groundbreaking methods that employ machine learning and channel fingerprinting techniques.
  • SaverOne: External Analysis Projects Annual $1.5 Billion Market Potential by 2035 for its RF-ADAS Technology.  Announced spinoff company dedicated to advancing VRU sensor solution following the conclusion of a comprehensive project completed by a leading global consultancy firm which analyzed the addressable market potential, as well as the initial interest from OEMs. The consultancy firm’s analysis projects a market potential annually of $1.5 billion by 2035.
  • Global Food Manufacturer Expands Installation of SaverOne Protection System. Follow-on order for 50 SaverOne Systems by the Israeli subsidiary of a leading global food manufacturer, for installation in their employee vehicles. This new order follows several successful trial phases and a prior order in November 2022, during which 80 employee vehicles in Israel were equipped with the SaverOne system.  
  • Global Food Manufacturer Adopts SaverOne System for Supply Chain Truck Protection. Following the successful completion of a pilot of SaverOne Systems’ on the customer’s trucks, an integral part of their supply chain in Israel, the customer ordered 46 SaverOne Systems. The customer is the Israeli subsidiary of one of the world’s top food manufacturers.
  • Egged Tours Broaden Installation of SaverOne System Across its Entire Bus Fleet.   The follow-on project will install the SaverOne system on an additional 60 buses  and cover Egged Tours’ entire fleet at its central hub of 130 vehicles. Egged Tours is a subsidiary of Egged Transportation, Israel’s largest public bus fleet with over 3,000 buses, representing significant broader sales potential for SaverOne.            

Financial Summary for the First Half of 2024

Revenues was NIS 483 thousand (~$129 thousand) in the first half of 2024 compared to NIS 1.5 million (~$395 thousand) for the first half of 2023. This decrease was mainly due to the longer decision-making processes by current and prospective customers in the home market of Israel.

Gross profit was NIS 85 thousand (~$23 thousand), representing gross margin of 18% in the first half of 2024 compared to NIS 467 thousand(~$124 thousand), representing gross margin of 32%, in the first half of 2023.

Research and development expenses, net were NIS 8.9 million (~$2.4 million) in the first half of 2024 compared to NIS 12.2 million (~$3.3 million) in the first half of 2023. This decrease is primarily attributable to our efforts to streamline and optimize our research and development expenses.

Selling and marketing expenses were NIS 2.4 million (~$640 thousand) in the first half of 2024 compared to NIS 1.4 million (~$385 thousand) in the first half of 2023. The increase is attributable mainly to higher marketing expenses in light of the Company’s efforts in expanding the business to international markets.

General and administrative expenses were NIS 4.5 million (~$1.2 million) in the first half of 2024, compared to NIS 4.5 million (~$1.2 million) in the first half of 2023.  

Operating loss was NIS 15.7 million (~$4.2 million) in the first half of 2024, reduced in comparison to NIS 17.6 million (~$4.7 million) in the first half of 2023, primarily as a result of efforts taken by the company to reduce expenses and ongoing cash burn.

Net loss in the first half of 2024 was NIS 16.3 million (~$4.4 million), reduced in comparison to NIS 17.8 million (~$4.8 million) for the first half of 2023.  

Cash and cash equivalents and short-term bank deposits as of June 30, 2024, amounted to NIS 11.3 million (~$3.0 million), compared with NIS 17.1 million (~$4.8 million) as of December 31, 2023. In July 2024, the Company secured an equity line amounting to $15 million.

The Company’s financial results are presented in accordance with IFRS as issued by the IASB.

*Unless otherwise noted, for the purposes of the presentation of financial data, all conversions from New Israeli Shekels (NIS) to U.S.dollars and from U.S. dollars to NIS were made at the rate of NIS 3.759to $1.00, based on the representative exchange rate reported by the Bank of Israel on June 30, 2024.

Froneri Israel Orders SaverOne Systems to Provide Safety Coverage for its Entire Fleet

PUBLISHED

SEP 6, 2024 8:00AM EDT

Petah Tikvah, Israel, Sept. 06, 2024 (GLOBE NEWSWIRE) —  SaverOne 2014 Ltd. (Nasdaq: SVRE, TASE: SVRE), a technology company that develops and sells advanced transportation safety solutions, today announced that Froneri extended its agreement with SaverOne and will update and equip SaverOne systems across its entire fleet of employee vehicles and distribution trucks in Israel. Froneri was among the first companies to install the SaverOne System within its fleet to counteract driver distraction, back in 2021.

Froneri is a UK-headquartered and leading manufacturer of ice cream with global sales. The company is jointly owned by Nestle Worldwide and R&R Ice Cream.

Mr. Ori Gilboa, CEO of SaverOne, commented, “We are delighted that Froneri, an early customer of ours, is expanding its use of the SaverOne System across its entire fleet in Israel. This is a strong testament to the effectiveness and reliability of our technology in enhancing the safety of their employees and preventing accidents caused by driver distraction within Froneri’s fleet over the past three years. We look forward to expanding our partnership with Froneri, with the goal of broadening sales to some of their other subsidiaries around the world.”

Egged Tours Broaden Installation of SaverOne System Across its Entire Bus Fleet

PUBLISHED

AUG 13, 2024 8:00AM EDT

Egged Tours will be using the SaverOne System on all 130 buses at its central hub

Petah Tikvah, Israel, Aug. 13, 2024 (GLOBE NEWSWIRE) — SaverOne 2014 Ltd. (Nasdaq: SVRE, TASE: SVRE), a technology company engaged in disruptive transportation safety solutions, today announced that it will install its SaverOne system to prevent cell phone distractions by bus drivers in all the buses of Egged Tour’s central hub, following a successful pilot project.

The follow-on project will install the SaverOne system on 60 buses, in addition to the 70 buses already equipped with the system at Egged Tours hubs across the country. This will cover Egged Tours’ entire fleet at its central hub of 130 vehicles. SaverOne’s system will help drivers stay fully focused on driving, free from smartphone distractions, while passengers can continue to use their phones as usual.

Egged Tours is a subsidiary of Egged Transportation, Israel’s largest public bus fleet with over 3,000 buses nationwide, representing significant broader sales potential for SaverOne.

Mr. Saadi Mohand Hamoudi, Vice President of Operations and Traffic at Egged Tours, commented: “The safety of our passengers and drivers is the company’s top priority. We believe that the SaverOne system reduces the likelihood of our drivers being distracted even for a moment by their phones, which is known to be a major cause of road accidents.”

Mr. Ori Gilboa, CEO of SaverOne, commented, “After demonstrating our system’s effectiveness at Egged Tours over the past few months, we are very pleased with this follow-on order, completing the installation across their entire central hub fleet. Egged Tours has taken a significant step towards enhancing the safety of their drivers, passengers, and other road users. We look forward to further expanding our presence within the Egged organization, as well as in other public transportation companies in Israeland globally.”

Global Food Manufacturer Expands Installation of SaverOne Protection System

Follow-on order for SaverOne Systems by the Israeli subsidiary of a leading global food manufacturer represents further significant international growth potential

Petah Tikvah, Israel, July 02, 2024 (GLOBE NEWSWIRE) — SaverOne 2014 Ltd. (Nasdaq: SVRE, TASE: SVRE), a technology company engaged in disruptive transportation safety solutions, today announced a new order of 50 SaverOne Systems from the Israeli subsidiary of one of the world’s top food manufacturers, for installation in their employee vehicles.

This new order follows several successful trial phases and a prior order in November 2022, during which 80 employee vehicles in Israel were equipped with the SaverOne system. Feedback was reported to be very positive, noting a significant reduction in accidents among these vehicles.

Mr. Ori Gilboa, CEO of SaverOne commented, “We are very pleased with this follow-on order, especially from such a valued and strategic customer. This order underscores our product’s success among the customer’s employees and demonstrates the strong value they place on enhancing employee safety with our protection system. Furthermore, this order represents significant growth potential for SaverOne. We look forward to further penetration and broadening of sales within this customer’s global organization to additional subsidiaries around the world, as we have successfully demonstrated with some of our other multinational customers. This follow-on order is a testament to our ongoing success in executing our growth strategy and cementing relationships with some of the world’s leading companies.”

SaverOne Signs Milestone OEM Agreement with IVECO

SaverOne’s solution to be provided to IVECO’s customers under a SaaS model

Petah Tikvah, Israel, March 27, 2024 (GLOBE NEWSWIRE) — 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.

Global Food Manufacturer Adopts SaverOne System for Supply Chain Truck Protection

New order for SaverOne Systems by the Israeli subsidiary of a leading global food manufacturer with strong international growth potential

Petah Tikvah, Israel, July 31, 2024 (GLOBE NEWSWIRE) —  SaverOne 2014 Ltd. (Nasdaq: SVRE, TASE: SVRE), a technology company engaged in disruptive transportation safety solutions, today announced the successful completion of a pilot of SaverOne Systems’ on the customer’s trucks, an integral part of their supply chain in Israel. The customer subsequently ordered the SaverOne System, which will be installed on 46 trucks.

The customer is the Israeli subsidiary of one of the world’s top food manufacturers and recently signed a contract with SaverOne to install SaverOne systems across their full fleet of employee vehicles in Israel.

Mr. Ori Gilboa, CEO of SaverOne commented, “We are pleased that our pilot installation in which the customer tested every aspect of the system has led to this key order. This new order validates our growth strategy of cementing relationships with some of the world’s leading companies. The customer’s supply chain will be better protected from disruption due to accidents caused by driver distraction. Most importantly there remains strong international growth potential for SaverOne with this customer. We aim to further penetrate the customer’s global organization bringing our solution to the trucks of their additional subsidiaries throughout the world.”

About SaverOne’s SystemsSaverOne’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, the safety of their passengers and others on the road. 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.

SaverOne has developed a Vulnerable Road User (VRU) solution with the potential to significantly enhance the performance of Advanced Driver Assistance System (ADAS) sensors through a superior ability to deal with NLoS (non-line of sight) situations as well as adverse weather conditions and low-visibility. SaverOne’s technology identifies the exact location and direction of movement of the VRU via their RF footprint from their cellphone signal. This safety solution enables the avoidance of a collision by early detection VRUs such as pedestrians or cyclists in the vicinity of the vehicle.

NEWS

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MANAGEMENT  

Jacob Tennenbaum

Jacob Tennenbaum

Chairman

Jacob has decades of experience in management, entrepreneurship and investments, high-tech and venture capital.  He leads a large number of start-ups towards financial success.

Uri Gilboa

Ori Gilboa

CEO

Ori has extensive experience in managing companies with large volumes of activity in the automotive and retail industry. He served, among others, as the CEO of the Meir Group’s automotive division, the CEO of James Richardson, and the CEO of the Negev Group and more.

Yossi Cohen

Yossi Cohen

Founder and COO

Yossi brings more than 25 years of experience in the telecommunications and automotive industries. Combining in-depth business, operations and technical knowledge. Yossi has led global business, operational and technology activities over the past two decades.

Omri Hagai

Omri Hagai

CFO

Over 10 years of experience in the financial management of public companies.

Prior to SaverOne, Omri served as Director of Finance  for BrainsWay & Disclosure and Reporting Controller of Israel Chemicals.

Aviram Meidan

Aviram Meidan

VP of R&D

Aviram has technological experience in communications and in the interface with the automotive industry. He has over 20 years of experience in developing multidisciplinary systems and managing development groups.

Israel Eybi

Chief Marketing and Sales Officer

Over 25 years of experience in marketing, sales and business strategies.

Israel brings many years of key relevant and solid experience in the cellular IoT-automotive segments.

Prior to SaverOne, Israel served as Chief Customer Officer at the Bezeq Group, as well as Chief Customer Officer at Pelephone.

SINCERELY,

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