SaverOne Announces First Distribution Agreement in the United States

Rhea-AI Summary

SaverOne 2014 (Nasdaq: SVRE, TASE: SVRE) has signed a distribution agreement with Motor Supply Inc. in the United States. The agreement grants Motor Supply exclusive rights in 10 U.S. states to sell, install, and support SaverOne's transportation safety solutions. This partnership follows a successful pilot program in February 2024.

Key points:

• The agreement guarantees at least 37,600 orders over the next five years
• As of August-end, SaverOne had a total of 3,750 installations globally
• Motor Supply specializes in leveraging cutting-edge technologies for efficient goods transportation
• Both companies emphasize the importance of road safety and driver protection

This partnership is expected to strengthen SaverOne's presence in the United States and contribute to its global growth.

Positive

• Secured distribution agreement with Motor Supply Inc. for 10 U.S. states
• Guaranteed minimum of 37,600 installations over the next 5 years
• Successful pilot program completed in February 2024
• Expansion into the U.S. market
• Potential for increased market presence and global growth

Negative

• None.

Insights

Financial Analyst

This distribution agreement marks a significant milestone for SaverOne, potentially transforming its market presence and financial outlook. The guaranteed minimum of 37,600 installations over five years represents a tenfold increase from their current global installation base of 3,750. This substantial growth in orders could lead to a significant boost in revenue and market share. The exclusive rights granted to Motor Supply in 10 U.S. states also provide SaverOne with a strategic foothold in the lucrative American market. However, investors should consider the execution risks, including potential challenges in scaling production and maintaining quality control. The partnership's success will likely depend on Motor Supply's ability to effectively market and distribute SaverOne's technology. While this deal shows promise, it's important to monitor the actual implementation and financial impact in the coming quarters.

Tech Expert

SaverOne's cell phone distraction prevention technology addresses a critical safety issue in the transportation industry. The successful pilot program and subsequent distribution agreement validate the technology's effectiveness and market potential. This partnership could accelerate the adoption of SaverOne's solution in the U.S., potentially establishing it as a standard safety feature in commercial fleets. The technology's ability to prevent cell phone distractions while driving aligns with increasing regulatory focus on road safety. However, the tech landscape is competitive and SaverOne must continue innovating to maintain its edge. Investors should watch for any technological advancements or competing solutions that could impact SaverOne's market position. The scalability of the technology and its integration with existing fleet management systems will be important factors in its widespread adoption.

SaverOne signs a distribution agreement with Motor Supply Inc., expanding into the US market and securing a minimum of 37,600 installations over the next 5 years

Petah Tikvah, Israel, Sept. 26, 2024 (GLOBE NEWSWIRE) -- SaverOne 2014 Ltd. (Nasdaq: SVRE, TASE: SVRE), a technology company that develops and sells advanced transportation safety solutions, today announced it has signed a new distribution agreement in the United States with a leading trucking company, Motor Supply Inc. (Motor Supply). Motor Supply has been granted exclusive rights in 10 U.S. states to sell, install, and support SaverOne's solution. This agreement follows a successful pilot program in February 2024.

Motor Supply, based in Columbia, South Carolina, specializes in leveraging cutting-edge technologies to efficiently transport goods across the United States.

Mr. Ori Gilboa, CEO of SaverOne, commented, “We are excited to be partnering with Motor Supply as we expand our footprint into the U.S. market. This partnership follows a comprehensive and extended trial, during which all aspects of our system were rigorously tested and validated. Motor Supply is deeply focused on advanced transportation technologies and the fact that they see exceptional value in our solution to become our distribution partner, makes us incredibly proud. This distribution agreement guarantees us at least 37,600 orders over the next five years, which is very significant for us given that as of August-end we had a total of 3,750 installations globally. We are confident this new partnership will strengthen our presence in the United States and will contribute to our global growth.”

Mr. Alex Abrashkin, Founder and CEO of Motor Supply commented, “We are thrilled to elevate our partnership with SaverOne, making their pioneering technology accessible to fleets throughout the United States. Committed to promoting a robust culture of road and driver safety, we continuously seek out innovations that bolster driver protection and mitigate accidents. The success of our pilot program with SaverOne confirmed the significant impact of their cell phone distraction prevention technology. Together with SaverOne we are proud to lead the way in advancing road safety through innovative solutions across the transportation industry. We foresee substantial market demand and invite both commercial and public fleets to join us in our mission to safeguard American roads.”

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 $870 billion each year, excluding the costs of serious injury or death, with a quarter of those accidents estimated to be related to the use of the mobile phones while driving. SaverOne's technology specifically recognizes the driver area in the vehicle and prevents the driver from accessing distracting applications such as messaging, while allowing others (e.g. navigation, calls), without user intervention or consent, creating a safer driving environment.

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 success in partnering with Motor Supply Inc.; SaverOne’s ability to expand its footprint into the U.S. market; 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

What is the new distribution agreement SaverOne (SVRE) has signed in the United States?

SaverOne (SVRE) has signed a distribution agreement with Motor Supply Inc., granting them exclusive rights in 10 U.S. states to sell, install, and support SaverOne's transportation safety solutions.

How many installations does the agreement with Motor Supply guarantee for SaverOne (SVRE)?

The agreement guarantees SaverOne (SVRE) a minimum of 37,600 installations over the next 5 years.

When did SaverOne (SVRE) complete the pilot program with Motor Supply?

SaverOne (SVRE) completed a successful pilot program with Motor Supply in February 2024.

How many installations did SaverOne (SVRE) have globally before this agreement?

As of August-end, SaverOne (SVRE) had a total of 3,750 installations globally.

What is the focus of Motor Supply Inc. in relation to SaverOne's (SVRE) technology?

Motor Supply Inc. focuses on promoting road and driver safety, and sees significant value in SaverOne's (SVRE) cell phone distraction prevention technology for advancing safety in the transportation industry.