SaverOne: External Analysis Projects Annual $1.5 Billion Market Potential by 2035 for its RF-ADAS Technology
SaverOne announced the formation of a new company to advance its Vulnerable Road User (VRU) sensor solution leveraging the RF Advanced Driver Assistance System (ADAS) technology. This decision follows a comprehensive analysis by a leading consultancy firm, projecting an annual market potential of $1.5 billion by 2035. The RF-ADAS technology enhances vehicle safety by detecting pedestrians and cyclists in non-line-of-sight scenarios. SaverOne has also secured a paid proof-of-concept order from European OEM IVECO. The company is actively seeking investors and strategic partners to support the new subsidiary's development and commercialization.
- Formation of a new company dedicated to VRU sensor solution.
- Consultancy firm's projection of $1.5 billion annual market potential by 2035.
- RF-ADAS technology addresses non-line-of-sight detection problem.
- Secured a paid proof-of-concept order from leading European OEM IVECO.
- Actively seeking investors and strategic partners for the new subsidiary.
- Projections are long-term, with significant financial benefits only expected by 2035.
- Reliance on securing additional investors and strategic partners, which introduces funding risks.
- The success of the new company is contingent on commercialization and adoption, which may face competitive and regulatory challenges.
Insights
SaverOne's move to establish a new company dedicated to its Vulnerable Road User (VRU) solution based on its RF Advanced Driver Assistance System (ADAS) sensor technology is a strategic decision that could have significant implications for the transportation safety market. The consultancy firm's analysis, projecting an annual market potential of
From an investor's perspective, the establishment of a subsidiary company could be seen as a positive step. It allows SaverOne to focus more intensely on developing and commercializing the VRU solution, potentially leading to faster time-to-market and a stronger competitive position. The recent purchase order from IVECO for a paid proof-of-concept (POC) order further validates the commercial viability of the technology, adding another layer of confidence for investors.
However, investors should also be aware of the long-term horizon involved. With the market potential projected for 2035, returns might not be immediate and there could be significant developmental and regulatory hurdles to overcome. Additionally, the company's ability to attract potential investors and strategic partners will be important in providing the necessary resources to drive this initiative forward.
Rating: 1 (positive)
The announcement of a new company for the VRU solution by SaverOne (SVRE) brings several financial implications. Firstly, the projected market potential of
The recent purchase order from IVECO for a POC is a promising start, indicating initial market acceptance. This could lead to more orders and partnerships, important for revenue generation. Investors should keep an eye on the company's burn rate and funding needs, as they plan to approach potential investors and strategic partners. The ability to secure favorable financing terms will be critical to avoid shareholder dilution and ensure sustainable growth.
While the long-term prospects are promising, short-term financial performance may be strained by upfront investments. Therefore, a balanced view considering both potential future gains and immediate financial health is essential.
Rating: 1 (positive)
Announces Spinoff Company Dedicated to Further Developing its VRU Sensor Solution Leveraging this Technology
Petah Tikvah, Israel, June 03, 2024 (GLOBE NEWSWIRE) -- SaverOne 2014 Ltd. (Nasdaq: SVRE, TASE: SVRE), a technology company engaged in disruptive transportation safety solutions, is pleased to announce that it will establish a new company dedicated to its Vulnerable Road User (VRU) solution which leverages its RF Advanced Driver Assistance System (ADAS) sensor technology. This strategic move follows the conclusion of a comprehensive project completed by a leading global consultancy firm, announced in March, which analyzed the addressable market potential, as well as the initial interest from OEMs.
The consultancy firm's analysis projects a market potential annually of
Following these positive developments, SaverOne has decided to establish a subsidiary company specifically focused on advancing the development, commercialization, and the broad adoption of the VRU solution. Furthermore, SaverOne is actively approaching potential investors and strategic partners to partner with and support the new company.
An investor presentation detailing the VRU solution and the market analysis have been made publicly available on SaverOne’s website at the link: http://ir.saver.one and has been filed with the SEC.
Ori Gilboa, CEO of SaverOne, commented, "We are thrilled to take this significant step forward with the establishment of a company to house our VRU project. The consultancy firm's findings, showing an annual market potential of
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
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 enables 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 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 SaverOne’s technology to substantially improve the safety of drivers; 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 our products or technology; SaverOne’s plan to seek patent, trademark and other intellectual property rights for our 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 our 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 success of the IVECO POC Product; 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 our belief that we maintain 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
Israeli Investors Contact:
Jonathan Eilat
John@theinvestor.co.il
FAQ
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