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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.
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.
SaverOne 2014 Ltd. (NASDAQ: SVRE) announced that Kfar Giladi Quarries has implemented the SaverOne system in its fleet of heavy trucks. This system aims to reduce driver distractions from mobile phones, thereby decreasing accident risks. SaverOne's CEO highlighted that the heavy industry represents a significant market opportunity in Israel, with potential fleet sizes in the tens of thousands. The company has also secured Cemex as a key customer, emphasizing the technology's importance in saving costs and lives. SaverOne targets commercial fleets, vehicle manufacturers, and insurance companies, aiming for expansion in Israel, Europe, and the US.
SaverOne 2014 Ltd. (Nasdaq: SVRE) announced the installation of its driver distraction prevention system on all school buses of the Emek Yizrael regional council in Israel. This addition increases the total number of regional councils using SaverOne's technology to four. The company aims to enhance safety for students by preventing bus drivers from being distracted by mobile phones. The full potential market in Israel includes 54 councils, with plans for future expansion into the US and Europe. SaverOne's solution addresses a significant issue, as distracted driving contributes to numerous accidents annually, with an estimated cost of $870 billion in the US alone.
SaverOne 2014 Ltd. (Nasdaq: SVRE) announced the trial installation of its safety system on 19 large delivery trucks for Shufersal, Israel's leading food retail chain. This marks a significant milestone as it opens potential for further installations across Shufersal's additional fleets, potentially impacting hundreds of vehicles. The SaverOne technology aims to reduce driver distraction from mobile phones, which is a major cause of road accidents. The company anticipates that broader adoption of its systems could significantly lower accident rates, thus impacting operational costs and enhancing safety standards in the transportation sector.
SaverOne 2014 Ltd. (Nasdaq: SVRE) announced a collaboration with Colmobil, a major car importer in Israel. This agreement allows Colmobil to install the SaverOne System in vehicles it leases, targeting driver distraction caused by mobile phone use. SaverOne aims to enhance road safety, addressing a significant cause of accidents linked to mobile phone usage. The company highlights increasing market acceptance and is strategically positioned in Israel, Europe, and the US. SaverOne's technology prevents access to distracting apps while driving, potentially impacting demand due to upcoming EU regulations aimed at improving driver safety.
SaverOne 2014 Ltd. (NASDAQ: SVRE) announced a contract with Tempo Beverages Ltd, Israel's largest brewer, to install its driver safety system on 30 out of 120 delivery trucks. This move aims to reduce accidents caused by mobile phone distractions in commercial fleets, enhancing safety and operational efficiency. The company's strategy focuses on international growth and the installation of its solution across various markets, including the U.S. and Europe. With rising interest in cellular distraction prevention technologies, SaverOne stands to benefit from anticipated regulatory changes.
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