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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 2014 Ltd. (Nasdaq: SVRE) announced an agreement with Shaltal Logistic and Transportation Ltd. to install its vehicle safety system across Shaltal's fleet of 150 trucks in Israel. This decision follows a successful pilot program involving 25 trucks, which demonstrated significant improvements in driver behavior by reducing mobile phone distractions.
The expanded implementation aims to enhance vehicle transportation safety and operational efficiency. SaverOne's technology is designed to prevent accidents caused by driver distractions, and the company aims to solidify its position in the transportation sector to attract further partnerships. Currently, Shaltal's primary operations involve transporting vehicles from the ports of Eilat and Ashdod.
SaverOne 2014 Ltd. (Nasdaq: SVRE) reported a significant 165% growth in revenue, reaching NIS 1.2 million (approximately $339 thousand) for the year ended December 31, 2022. The company noted a net loss of NIS 25 million (~$7.1 million) with cash reserves of NIS 29.3 million (~$8.3 million). Key achievements included winning its largest order, covering 1,200 buses for Electra Afikim, and penetrating various industries, such as logistics and construction. The launch of its Second Generation technology marks a strategic shift towards international market expansion. Management expresses optimism for accelerated growth in 2023.
EzFill has launched a pilot program with SaverOne to install distraction-reducing technology in its fuel delivery trucks. This initiative aims to decrease driver distractions caused by mobile phones, ultimately enhancing safety and reducing accident risks. The trial, which marks SaverOne's first in the U.S., involves equipping select trucks with systems that limit app access while allowing passengers to use their devices. EzFill's CEO expressed enthusiasm about this partnership and its potential to improve operational safety. SaverOne also envisions expanding its technology usage within EzFill's fleet, contributing to both companies' growth strategies.
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.
SaverOne 2014 Ltd. (Nasdaq: SVRE) announced its membership in the EU Regulatory Committee on Driver Distraction on March 20, 2023. This committee sets regulations for vehicle manufacturers to detect driver distractions, aiming to enhance road safety. The integration of distraction mitigation technologies will be mandatory for new EU vehicles by July 2026. SaverOne's technology aims to prevent mobile phone disruptions while driving, reducing accidents. CEO Ori Gilboa emphasized that participation in this committee enables SaverOne to influence regulations and potentially increase demand for its safety solutions.
SaverOne 2014 Ltd. (Nasdaq: SVRE) announced a significant agreement with Electra Afikim, Israel's leading public transport provider, to install the SaverOne system on approximately 1,200 buses. This initiative aims to enhance safety by preventing mobile phone distractions for drivers, a leading cause of road accidents. Following a successful pilot, installations will commence shortly, positioning Electra Afikim as Israel's first public bus company to adopt this technology. The collaboration marks SaverOne's largest order to date and targets the burgeoning market for transportation safety solutions, with potential for broad adoption in fleet vehicles worldwide.
SaverOne 2014 Ltd. (NASDAQ: SVRE) has secured a significant order with Shapir Engineering Group to install its advanced safety technology on 20 trucks in a pilot phase. This marks a vital addition to SaverOne's clientele in the construction sector, which includes previous contracts with ReadyMix and Kfar Giladi Quarries. Shapir is Israel's largest construction firm, emphasizing safety and innovation in its fleet operations. SaverOne's technology aims to reduce mobile-related driver distractions, a leading cause of road accidents. The company targets commercial fleets and OEM manufacturers globally, anticipating a surge in demand driven by upcoming regulatory changes.
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