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SaverOne 2014 Ltd. (NASDAQ: SVRE, TASE: SVRE) is a leading technology company committed to enhancing transportation safety through its advanced driver-assistance systems (ADAS). Founded in 2014, SaverOne specializes in developing and deploying solutions aimed at preventing distracted driving, one of the major causes of road accidents globally.
The company's core product, the SaverOne system, restricts the driver's access to distracting mobile applications while allowing essential functionalities like navigation and calls. This sophisticated yet user-friendly system is designed to minimize in-route distractions, providing a safer driving environment for drivers, passengers, and pedestrians alike.
SaverOne has made significant strides in recent years, driven by an ambitious agenda and strategic partnerships. In 2023, the company reported a revenue increase to NIS 2.7 million, showcasing its strong market momentum. SaverOne has also secured transformative OEM deals, including agreements with major players like IVECO and Volvo Bus Corporation. These collaborations involve the integration of SaverOne's safety technology into commercial vehicles, highlighting the company's growing influence in the transportation sector.
The company's initiatives extend beyond individual partnerships. SaverOne has launched pilot projects and secured multiple contracts across various markets, including public transportation and tour bus fleets in Israel and a pilot program in the United States with Motor Supply, Inc. These endeavors emphasize SaverOne's commitment to expanding its reach and impact globally.
Financially, SaverOne has shown robust growth, with a 128% increase in year-over-year revenues in 2023 and a 107% rise in gross profit. The company is well-capitalized, with approximately $4.7 million in cash as of the end of 2023, providing a solid foundation for its 2024 growth agenda.
SaverOne's technology is not only aimed at current market demands but also positions the company for future growth. The company is developing a sensor system for early detection of vulnerable road users, leveraging cellphone footprints under all visibility conditions, a crucial development for the future of autonomous driving and enhanced vehicle safety.
With a comprehensive portfolio of 23 patents and a strategic focus on key global markets like the U.S., China, and the European Union, SaverOne is poised to lead in the field of driver protection technology. The company's mission to save lives by preventing accidents due to mobile distractions is as relevant today as it was at its inception, making SaverOne a crucial player in the ongoing effort to enhance road safety worldwide.
SaverOne (Nasdaq: SVRE) has signed a new distribution agreement with Smartfits Installations to introduce its driver distraction prevention technology to fleets across the United Kingdom. Smartfits, located in Burton on Trent, specializes in fleet safety and technology integrations for logistics, public transport, and corporate fleets.
The partnership is part of SaverOne's strategic global expansion plan, building on recent success in European markets. The UK fleet market, comprising over five million vehicles, presents significant growth potential for safety-enhancing technologies, driven by increasing regulatory focus and rising costs of distraction-related accidents.
SaverOne has launched a pilot project with Trans Italia, a major Italian logistics company operating over 300 trucks. The project involves installing SaverOne's driver safety system in an initial group of Trans Italia's trucks to prevent driving distractions and enhance road safety.
The collaboration was facilitated through SaverOne's Italian partner Tal Yhie and regional distributor GVZ Components, with installations being handled by TBS. This initiative represents a significant step in SaverOne's expansion into the Italian market and broader European growth strategy.
Trans Italia, known for eco-friendly and intermodal transport solutions, offers substantial growth potential for SaverOne and provides a strategic platform to showcase its technology in the Italian logistics sector.
SaverOne (Nasdaq: SVRE, TASE: SVRE), a technology company specializing in advanced transportation safety solutions, announced a new pilot project with a renowned Italian luxury and sports car manufacturer. This project involves installing SaverOne’s distracted driving prevention system in an initial group of employee vehicles, potentially leading to installation across the manufacturer's entire employee fleet of approximately 200 vehicles. This initiative underscores SaverOne’s growing momentum in the Italian market and its European expansion strategy. The project is being led by SaverOne’s Italian partner, Mr. Tal Yhie, and regional distributor, GVZ Components. CEO Ori Gilboa highlighted the endorsement as a validation of SaverOne’s technology and its ability to address the critical issue of distracted driving caused by cellphones.
SaverOne announced signing a commercial agreement with a Spanish subsidiary of a multinational construction company following a successful pilot. The agreement includes the deployment of up to 200 SaverOne systems from a total fleet of 500 vehicles in Spain. The first 100 systems have been shipped and will be installed by mid-December 2024. The customer is a leader in the construction industry with global operations and a fleet of thousands of vehicles. This expansion follows a previous successful implementation in Israel, where the company started with a pilot project two years ago before expanding to their full fleet.
SaverOne announced that on November 12, 2024, it received notice from Nasdaq confirming compliance with the minimum bid price requirement for continued listing. The company had previously received a non-compliance notice on May 17, 2024, as its ADSs failed to maintain a $1.00 minimum closing bid price for 30 consecutive business days. To regain compliance, SaverOne implemented a change in ADS ratio from 1:5 to 1:90 ordinary shares on October 28, 2024. Following this adjustment, the company maintained the required minimum closing bid price for 10 consecutive business days between October 28 and November 11, 2024, successfully resolving the listing compliance issue.
SaverOne 2014 (Nasdaq: SVRE, TASE: SVRE) has signed a new distribution agreement with Sistemas ADAS to expand its reach in Spain and Portugal. This move is part of SaverOne's global expansion strategy, following recent entries into Italy, Mexico, and several US states.
Sistemas ADAS, a leading distributor of transportation safety solutions, has a strong presence in the bus and truck sectors, having deployed systems in thousands of vehicles across the Iberian Peninsula. The partnership aims to introduce SaverOne's advanced transportation safety solutions to fleets in these markets.
SaverOne's CEO, Ori Gilboa, highlighted the significant market potential in Spain and Portugal, particularly in the public transportation sector. Elías Izquierdo, CEO of Sistemas ADAS, expressed enthusiasm about the partnership's potential to improve road safety across fleets, bus operators, and OEMs in the region.
SaverOne 2014 (Nasdaq: SVRE, TASE: SVRE) has signed a distribution agreement with Motor Supply Inc. in the United States. The agreement grants Motor Supply exclusive rights in 10 U.S. states to sell, install, and support SaverOne's transportation safety solutions. This partnership follows a successful pilot program in February 2024.
Key points:
- The agreement guarantees at least 37,600 orders over the next five years
- As of August-end, SaverOne had a total of 3,750 installations globally
- Motor Supply specializes in leveraging cutting-edge technologies for efficient goods transportation
- Both companies emphasize the importance of road safety and driver protection
This partnership is expected to strengthen SaverOne's presence in the United States and contribute to its global growth.
SaverOne 2014 (Nasdaq: SVRE, TASE: SVRE) has launched a new pilot project with Malta Public Transport Company (MPTC), the national bus operator of Malta. MPTC will be testing the SaverOne system over the coming months as part of its evaluation of new safety solutions. The installation was done in collaboration with SaverOne's regional distributor, GVZ Components.
MPTC operates approximately 450 buses across Malta. If the evaluation is successful, MPTC may equip its entire fleet with the SaverOne System during 2025. This pilot project represents a significant opportunity for SaverOne to expand into Malta and further penetrate European markets.
SaverOne 2014 (Nasdaq: SVRE, TASE: SVRE) has launched four new pilot projects with customers of Volvo Buses Mexico, following their OEM agreement signed in March 2024. The pilots involve retrofitting 20 buses with SaverOne's technology, designed to prevent driver distraction from mobile phones. The projects are located in Mexico City (intercity buses) and Monterrey (city buses).
This initiative stems from SaverOne's agreement with Volvo Group, allowing pre-installation and aftermarket retrofit of their safety solution. Volvo Buses, a subsidiary of Volvo Group, is one of the world's largest bus manufacturers. SaverOne's CEO, Ori Gilboa, highlighted the significance of this collaboration and its potential to expand to other Volvo subsidiaries globally.
SaverOne 2014 (Nasdaq: SVRE, TASE: SVRE) announced that Froneri, a leading global ice cream manufacturer, has extended its agreement to equip SaverOne systems across its entire fleet of employee vehicles and distribution trucks in Israel. Froneri, jointly owned by Nestle Worldwide and R&R Ice Cream, was among the first companies to install the SaverOne System in 2021 to counteract driver distraction. This expansion demonstrates the effectiveness and reliability of SaverOne's technology in enhancing employee safety and preventing accidents caused by driver distraction over the past three years. SaverOne's CEO, Ori Gilboa, expressed delight at the expanded partnership and hopes to broaden sales to Froneri's subsidiaries worldwide.
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