Froneri Israel Orders SaverOne Systems to Provide Safety Coverage for its Entire Fleet
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.
SaverOne 2014 (Nasdaq: SVRE, TASE: SVRE) ha annunciato che Froneri, un importante produttore globale di gelato, ha esteso il suo accordo per dotare i sistemi SaverOne su tutta la flotta dei veicoli aziendali e dei camion per la distribuzione in Israele. Froneri, di proprietà congiunta di Nestlé Worldwide e R&R Ice Cream, è stata tra le prime aziende a installare il Sistema SaverOne nel 2021 per contrastare la distrazione del conducente. Questa espansione dimostra l'efficacia e l'affidabilità della tecnologia di SaverOne nel migliorare la sicurezza dei dipendenti e prevenire incidenti causati dalla distrazione del conducente negli ultimi tre anni. Il CEO di SaverOne, Ori Gilboa, ha espresso soddisfazione per l'espansione della partnership e spera di ampliare le vendite alle filiali di Froneri in tutto il mondo.
SaverOne 2014 (Nasdaq: SVRE, TASE: SVRE) anunció que Froneri, un fabricante de helados líder a nivel mundial, ha extendido su acuerdo para equipar los sistemas SaverOne en toda su flota de vehículos de empleados y camiones de distribución en Israel. Froneri, de propiedad conjunta de Nestlé Worldwide y R&R Ice Cream, fue una de las primeras compañías en instalar el Sistema SaverOne en 2021 para contrarrestar la distracción del conductor. Esta expansión demuestra la eficacia y fiabilidad de la tecnología de SaverOne al mejorar la seguridad de los empleados y prevenir accidentes causados por la distracción del conductor en los últimos tres años. El CEO de SaverOne, Ori Gilboa, expresó su satisfacción por la expansión de la asociación y espera ampliar las ventas a las subsidiarias de Froneri en todo el mundo.
SaverOne 2014 (Nasdaq: SVRE, TASE: SVRE)은 Froneri, 세계적인 아이스크림 제조업체가 이스라엘 전역의 모든 직원 차량과 배달 트럭에 SaverOne 시스템을 장착하기로 협약을 연장했다고 발표했습니다. Froneri는 Nestlé Worldwide와 R&R Ice Cream이 공동 소유하며, 2021년에 운전자의 주의 산만을 방지하기 위해 SaverOne 시스템을 설치한 첫 번째 기업 중 하나였습니다. 이번 확장은 최근 3년간 운전자의 주의 산만으로 인한 사고를 예방하고 직원 안전을 강화하는 데 있어 SaverOne의 기술의 효과성과 신뢰성을 입증합니다. SaverOne의 CEO인 Ori Gilboa는 확장된 파트너십에 기쁨을 표하며 Froneri의 전 세계 자회사로의 판매 확대를 희망한다고 전했습니다.
SaverOne 2014 (Nasdaq : SVRE, TASE : SVRE) a annoncé que Froneri, un fabricant de crème glacée mondial de premier plan, a prolongé son accord pour équiper les systèmes SaverOne sur l'ensemble de la flotte de véhicules d'employés et de camions de distribution en Israël. Froneri, détenue conjointement par Nestlé Worldwide et R&R Ice Cream, a été l'une des premières entreprises à installer le Système SaverOne en 2021 pour contrer la distraction du conducteur. Cette expansion démontre l'efficacité et la fiabilité de la technologie SaverOne pour améliorer la sécurité des employés et prévenir les accidents causés par la distraction du conducteur au cours des trois dernières années. Le PDG de SaverOne, Ori Gilboa, a exprimé sa satisfaction quant à l'élargissement du partenariat et espère élargir les ventes aux filiales de Froneri à travers le monde.
SaverOne 2014 (Nasdaq: SVRE, TASE: SVRE) gab bekannt, dass Froneri, ein führender globaler Hersteller von Speiseeis, seine Vereinbarung verlängert hat, SaverOne-Systeme in gesamten Fuhrpark von Mitarbeiterfahrzeugen und Verteilungstrucks in Israel auszustatten. Froneri, das im gemeinsamen Besitz von Nestlé Worldwide und R&R Ice Cream ist, gehörte zu den ersten Unternehmen, die 2021 das SaverOne-System installiert haben, um Fahrer Ablenkungen entgegenzuwirken. Diese Expansion zeigt die Effektivität und Zuverlässigkeit der Technologie von SaverOne zur Verbesserung der Sicherheit der Mitarbeiter und zur Vermeidung von Unfällen, die in den letzten drei Jahren durch Fahrer Ablenkung verursacht wurden. Der CEO von SaverOne, Ori Gilboa, äußerte seine Freude über die erweiterte Partnerschaft und hofft, den Verkauf an die Tochtergesellschaften von Froneri weltweit auszubauen.
- Expansion of existing customer agreement to cover entire fleet in Israel
- Demonstrates effectiveness and reliability of SaverOne's technology
- Potential for further sales expansion to Froneri's global subsidiaries
- None.
Insights
The expansion of SaverOne's contract with Froneri to cover their entire fleet in Israel is a positive development for the company. While the financial terms aren't disclosed, this deal suggests growing customer satisfaction and potential for increased revenue. However, investors should note that the impact on SaverOne's overall financials may be , given that this is an expansion within a single country for one client.
The mention of potential expansion to Froneri's global subsidiaries is promising but speculative. Investors should watch for concrete announcements of international deals, which could significantly boost SaverOne's market presence and financial performance. The company's ability to retain and expand business with a major client like Froneri, partly owned by Nestle, could also enhance credibility with other potential enterprise customers.
SaverOne's technology addressing driver distraction is tackling a critical safety issue in the transportation industry. The system's effectiveness, as implied by Froneri's expanded adoption after three years, suggests a robust and reliable solution. This could position SaverOne well in the growing market for vehicle safety technologies.
However, investors should consider the competitive landscape. As vehicle manufacturers increasingly integrate distraction-prevention features, SaverOne may face challenges. The company's ability to innovate and differentiate its offering will be crucial. Future growth may depend on expanding beyond aftermarket solutions to partnerships with automakers for factory-installed systems.
The expansion of SaverOne's contract with Froneri indicates a positive market reception for driver distraction prevention technologies. This trend aligns with the growing focus on fleet safety and could signal increased demand from other corporate clients. The global nature of Froneri's business presents a potential gateway for SaverOne to expand internationally.
However, investors should note that widespread adoption may face hurdles such as cost considerations for fleet operators and potential regulatory changes. The market's growth trajectory will likely depend on factors like insurance incentives, legal requirements and public awareness of distracted driving risks. SaverOne's success in scaling beyond individual corporate clients to larger, industry-wide implementations will be a key indicator of its long-term potential.
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.”
About SaverOne’s Systems
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, 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
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 supports the avoidance of a collision by early detection VRUs such as pedestrians or cyclists in the vicinity of the vehicle.
About SaverOne
SaverOne is a technology company engaged in the design, development and commercialization of OEM and aftermarket solutions and technologies, to lower the risk of, and prevent, vehicle accidents.
SaverOne’s initial line of products is a suite of solutions that saves lives by preventing car accidents resulting from distraction from the use of mobile phones while driving. SaverOne is also developing a sensor system for early location and direction detection under all visibility conditions of vulnerable road users (VRU) through their cellphone footprint.
Learn more at https://saver.one/
Forward Looking Statements
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 contained in this press release include, but are not limited to, statements regarding SaverOne's strategic and business plans, technology, relationships, objectives and expectations for its business, growth, the impact of trends on and interest in its business, intellectual property or product and its future results, operations and financial performance and condition and may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "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 inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Many factors could cause SaverOne's actual activities or results to differ materially from the activities and results anticipated in such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied in such forward-looking statements include, but are not limited to: the ability of SaverOne’s technology to substantially improve the safety of drivers; market acceptance of SaverOne’s protection solutions; SaverOne’s ability to expand its partnership with Froneri and sales to their other subsidiaries around the world; SaverOne’s planned level of revenues and capital expenditures; SaverOne’s ability to market and sell its products; SaverOne’s plans to continue to invest in research and development to develop technology for both existing and new products; SaverOne’s intention to advance its technologies and commercialization efforts; SaverOne’s intention to use local distributors in each country or region that it will conduct business to distribute SaverOne’s products or technology; SaverOne’s plan to seek patent, trademark and other intellectual property rights for SaverOne’s products and technologies in the United States and internationally, as well as its ability to maintain and protect the validity of its currently held intellectual property rights; SaverOne’s expectations regarding future changes in its cost of revenues and operating expenses; interpretations of current laws and the passage of future laws; acceptance of SaverOne’s business model by investors; 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 SaverOne operates; projected capital expenditures and liquidity; SaverOne’s intention to retain key employees, and the Company’s belief that it maintains good relations with all of its employees; any resurgence of the COVID-19 pandemic and its impact on SaverOne’s business and industry; security, political and economic instability in the Middle East that could harm SaverOne’s business, including due to the current war between Israel and Hamas; and other risks and uncertainties, including, but not limited to, the risks detailed in the Company's Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the "SEC") on March 25, 2024 and in subsequent filings with the SEC. Forward-looking statements contained in this announcement are made as of this date, and SaverOne undertakes no duty to update such information except as required under applicable law.
International Investor Relations Contact:
Ehud Helft
+1 212 378 8040
saverone@ekgir.com
FAQ
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