SaverOne Expand its Cooperation with Cemex: Launches First European Pilot with Cemex in Spain

Rhea-AI Summary

SaverOne announces pilot with Cemex in Spain, following successful installation in Cemex Israel's fleet.

Positive

• SaverOne is expanding internationally with its pilot project in Europe with Cemex in Spain.
• SaverOne's land-and-expand strategy is proving successful, as the pilot in Israel led to an order covering their entire fleet.
• The European pilot is part of SaverOne's global expansion.

Negative

• None.

PETAH TIKVAH, Israel, Sept. 6, 2023 /PRNewswire/ -- SaverOne 2014 Ltd. (Nasdaq: SVRE) (TASE: SVRE), a technology company engaged in advanced transportation safety solutions, today announced it is launching a pilot with Cemex in Spain, covering ten trucks in two regions. This new pilot follows recent successful installation of SaverOne's solution across Cemex Israel's full fleet of employee vehicles and operational trucks.

Cemex Group (NYSE: CX) is a global leader in the building materials industry with offices throughout Europe, Middle East, Asia, Africa (EMEA), United States of America (USA), Mexico, South and Central America and the Caribbean (SCA&C). Cemex's supply chain includes maritime and land transportation around the world, with a fleet of many thousands of both heavy and light vehicles.

Mr. Ori Gilboa, CEO of SaverOne, commented, "This is a significant milestone for SaverOne representing our first pilot in Europe. Our cooperation with Cemex, which started from a small pilot project in Israel and then expanded to their full employee fleet of passenger cars and trucks in Israel, continues to grow internationally and now we have penetrated into Cemex in Europe through Cemex in Spain. Cemex is very much a successful demonstration of our land-and-expand strategy where an initial penetration into a highly strategic local company subsidiary, soon turned into an order covering their entire employee fleet in Israel, and ultimately led to an initial penetration of their European fleet. We are seeing growing traction with this strategy and are increasingly realizing its significant potential. This European Cemex pilot, which comes soon after our recently announced pilots in the USA and Abu Dahbi, marks the first steps in our global expansion."

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 $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 (navigation as an example), without user intervention or consent, creating a safer driving environment.

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/

About Cemex

Cemex (NYSE: CX) is a global construction materials company that is building a better future through sustainable products and solutions. Cemex is committed to achieving carbon neutrality through relentless innovation and industry-leading research and development. Cemex is at the forefront of the circular economy in the construction value chain and is pioneering ways to increase the use of waste and residues as alternative raw materials and fuels in its operations with the help of new technologies. Cemex offers cement, ready-mix concrete, aggregates, and urbanization solutions in growing markets around the world, powered by a multinational workforce focused on providing a superior customer experience enabled by digital technologies. For more information, please visit: www.cemex.com 

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

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SOURCE SaverOne

FAQ

What is SaverOne's pilot project with Cemex in Spain?

SaverOne is launching a pilot project with Cemex in Spain, covering ten trucks in two regions.

What is SaverOne's land-and-expand strategy?

SaverOne's land-and-expand strategy involves initially penetrating a strategic local company subsidiary, then expanding to cover their entire fleet.

Is SaverOne's pilot project in Europe part of their global expansion?

Yes, the European pilot with Cemex in Spain is part of SaverOne's global expansion.