Israel's Leading Shipping & Logistics Company Expands Program with SaverOne to Cover Full Fleet of 150 Trucks
SaverOne 2014 Ltd. (Nasdaq: SVRE) has announced an expansion of its successful pilot program with logistics leader Moviley Dror, which will now cover its entire fleet of 150 delivery trucks in Israel. The initial installation of SaverOne's driver distraction prevention technology will begin with 50 trucks, with completion expected in the coming weeks. This agreement highlights SaverOne's land-and-expand strategy, paving the way for potential future collaborations with Moviley Dror's international partners. The technology aims to enhance driver safety and reduce road accidents, aligning with increasing global emphasis on vehicular safety.
- Expansion of pilot program to cover full fleet of 150 trucks.
- Initial installation in 50 trucks expected to be completed soon.
- Potential for future collaborations with international partners.
- Addresses significant safety concerns related to driver distraction.
- None.
Following the successful completion of a limited pilot program with SaverOne,
Moviley Dror broadens the program to cover its full fleet
PETAH TIKVAH, Israel, March 23, 2023 /PRNewswire/ -- SaverOne 2014 Ltd. (Nasdaq: SVRE) (TASE: SVRE), a technology company engaged in transportation safety solutions, today announced that following the success its pilot program with SaverOne, Moviley Dror decided to expand the program across its full fleet. Moviley Dror is a leader in logistics and shipping for the Israeli supply chain market, with leading international partners.
Moviley Dror signed an agreement with SaverOne to install its technology into 150 delivery trucks in Israel. In the first stage, the system will be installed in 50 trucks and the installation is expected to be completed in the coming weeks.
Mr. Gilboa, CEO of SaverOne commented, "We are very pleased with our progress and this is the second stage of a successful penetration for SaverOne and demonstrates the success of our land-and-expand strategy. We first installed our systems across an initial pilot group at Moviley Dror, and we have now expanded out to their entire fleet in Israel. The next goal for SaverOne is to expand our technology and services into their international partners. We look forward to continuing to further grow our sales with both existing and new customers, while deepening relationships with key local fleet managers, especially those partnered with multinational organizations."
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.
To learn more about the company, please visit: https://saver.one/
For the corporate video, please visit: https://saver.one/media/
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 the completion of the private placement, and the satisfaction of customary closing conditions related to the private placement, 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; 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; the impact of the COVID-19 pandemic, and resulting government actions on us; and other risks and uncertainties, including those listed in the section titled "Risk Factors" in the final prospectus on Form 424b4 filed with the Securities and Exchange Commission on June 6, 2022. 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.
Logo: https://mma.prnewswire.com/media/1978170/SaverOne_Logo.jpg
International Investor Relations Contact:
Ehud Helft
+1 212 378 8040
saverone@ekgir.com
Israeli Investors Contact:
Jonathan Eilat
John@theinvestor.co.il
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SOURCE SaverOne
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