GB Tours to Expand its Installation of the SaverOne System Across its Full Fleet of Public Transportation and Tour Buses
- None.
- None.
Insights
The expansion of the SaverOne System installation across GB Tours' fleet signifies a strategic move for SaverOne 2014 Ltd. that could potentially enhance its market share in the transportation safety solutions sector. This deployment marks a transition from successful trial to full-scale implementation, suggesting confidence in the product's efficacy and reliability. The market for transportation safety is growing, driven by increasing regulatory pressures and public demand for safer travel. The adoption by a leading transportation company not only serves as a validation of SaverOne's technology but could also act as a catalyst for further agreements with other operators in the industry.
Investors should monitor the company's performance metrics post-implementation, such as customer satisfaction, system reliability and the impact on operational costs for GB Tours. These factors will provide indicators of the system's value proposition and could influence future sales and partnerships. It's also worth considering the competitive landscape and how SaverOne's technology differentiates itself from other safety solutions in the market.
From a financial perspective, the deal with GB Tours is likely to have a positive impact on SaverOne's revenue stream, considering the scale of the agreement. The financial terms of the deal are crucial for assessing its impact on SaverOne's profitability. Factors such as the cost of production, installation expenses and the pricing model for the SaverOne System will determine the gross margin derived from this deal. Investors should also consider the potential for recurring revenue from maintenance and updates to the installed systems.
Furthermore, the market will be looking at how this agreement affects the company's earnings forecasts and whether it leads to an upward revision of revenue projections. The stock market response to such business developments typically reflects expectations of future cash flows, so a positive reaction might be anticipated if the deal is perceived to significantly enhance SaverOne's financial outlook.
On the legal front, the deployment of the SaverOne System across a major fleet raises questions about compliance with transportation safety regulations and data privacy laws. It is important for SaverOne to ensure that their system adheres to the stringent safety standards set by transportation authorities. Additionally, the system's operation must comply with data protection regulations, especially given the sensitivity of data collected in public transportation environments. Any legal challenges or regulatory hurdles could affect the deployment timeline and potentially the company's reputation.
Moreover, the contract between SaverOne and GB Tours should clearly define liability provisions, warranty terms and intellectual property rights to prevent future legal disputes. These contractual elements can have significant implications for both parties involved and should be scrutinized by investors for potential risks.
Following successful trial, SaverOne System to be installed on a further 77 buses
Petah Tikvah, Israel, March 11, 2024 (GLOBE NEWSWIRE) -- SaverOne 2014 Ltd. (Nasdaq: SVRE, TASE: SVRE), a technology company engaged in transportation safety solutions, today announced that it has expanded its collaboration and signed a further agreement with GB Tours to install the SaverOne System on the full fleet of GB Tours’ 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 follows the conclusion of a successful pilot of the SaverOne System on twenty of GB Tours’ buses.
Over the coming weeks, SaverOne will install its system across the full fleet of GB Tours’ buses, amounting to a further 77 public transportation and tour buses.
Ashraf Houri, Public Transportation Manager at GB Tours, commented, “At GB Tours, we are constantly striving to improve our service quality while ensuring the safety of our passengers during their travels. The decision to expand our installation of the SaverOne system is a testament to our commitment to passenger safety. We believe that this solution will bring an increase in the safety of our passengers while traveling with us.”
Mr. Gilboa, CEO of SaverOne commented, “After using our product for some time and fully testing it on a quarter of their fleet, we are very pleased that GB Tours has seen the significant value that we bring and have chosen to roll-out our safety solution across their full fleet. The public transportation sector has always been an important one for SaverOne where the safe passage of many people concurrently is key, and it is critical for bus owners to minimize the risk of traffic accidents as much as possible. We believe that we have the potential to play a significant role in this sector, which represents an area ripe for long-term growth for SaverOne, worldwide.”
About the SaverOne System
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
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.
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, 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 our actual results to differ materially from those expressed or implied in such forward-looking statements include, but are not limited to: the ability of our technology to substantially improve the safety of drivers; our planned level of revenues and capital expenditures and our ability to continue as a going concern; the ability of our technology to substantially improve the safety of drivers; our ability to market and sell our products; our plans to continue to invest in research and development to develop technology for both existing and new products; our intention to advance our technologies and commercialization efforts; our intention to use local distributors in each country or region that we will conduct business to distribute our products or technology; our plan to seek patent, trademark and other intellectual property rights for our products and technologies in the United States and internationally, as well as our ability to maintain and protect the validity of our currently held intellectual property rights; our expectations regarding future changes in our cost of revenues and our operating expenses; our expectations regarding our tax classifications; interpretations of current laws and the passage of future laws; acceptance of our 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 we operate; projected capital expenditures and liquidity; our intention to retain key employees, and our belief that we maintain good relations with all of our employees; any resurgence of the COVID-19 pandemic and its impact on our business and industry; 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 April 27, 2023 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 Israeli Investors Contact: Jonathan Eilat John@theinvestor.co.il |
FAQ
How many buses will the SaverOne System be installed on?
What is the main focus of SaverOne 2014 Ltd.?
Who is the collaboration partner of SaverOne 2014 Ltd. in this announcement?
What type of company is GB Tours?
