SaverOne Launches Four Pilot Projects with Customers of Volvo Buses Mexico

Rhea-AI Summary

SaverOne 2014 (Nasdaq: SVRE, TASE: SVRE) has launched four new pilot projects with customers of Volvo Buses Mexico, following their OEM agreement signed in March 2024. The pilots involve retrofitting 20 buses with SaverOne's technology, designed to prevent driver distraction from mobile phones. The projects are located in Mexico City (intercity buses) and Monterrey (city buses).

This initiative stems from SaverOne's agreement with Volvo Group, allowing pre-installation and aftermarket retrofit of their safety solution. Volvo Buses, a subsidiary of Volvo Group, is one of the world's largest bus manufacturers. SaverOne's CEO, Ori Gilboa, highlighted the significance of this collaboration and its potential to expand to other Volvo subsidiaries globally.

Positive

• Launch of four pilot projects with Volvo Buses Mexico customers
• Potential expansion to hundreds of additional buses in Mexico
• OEM agreement with Volvo Group allows for pre-installation and aftermarket retrofit
• Broadening global reach with operations in Europe, United States, and Mexico
• Possibility of extending collaboration with other Volvo subsidiaries worldwide

Negative

• None.

Insights

Financial Analyst

The launch of four pilot projects with Volvo Buses Mexico customers is a positive development for SaverOne, albeit with immediate financial impact. The pilot's scope of 20 buses is relatively small, but it serves as a proof of concept for the OEM agreement signed in March 2024. The real value lies in the potential for expansion. If successful, these pilots could lead to hundreds of additional bus installations, significantly boosting SaverOne's revenue. However, investors should note that the financial terms of the deal and potential revenue are not disclosed, making it challenging to quantify the exact impact on SaverOne's bottom line. The collaboration with a major player like Volvo Buses enhances SaverOne's market credibility and could open doors to other Volvo subsidiaries globally, potentially accelerating growth.

Market Research Analyst

This news signifies SaverOne's strategic move into the Latin American market, specifically Mexico, which is a growing hub for transportation innovation. The focus on both intercity and city buses in Mexico City and Monterrey demonstrates a comprehensive approach to market penetration. The pilot's success could position SaverOne as a key player in bus safety technology in the region. However, it's important to consider the competitive landscape and local regulations regarding driver safety solutions. The partnership with Volvo Buses, a respected brand in Mexico, provides a significant competitive advantage and could accelerate market adoption. Investors should monitor the outcomes of these pilots closely, as they could indicate SaverOne's potential for scalability and market acceptance in similar emerging markets.

Tech Expert

SaverOne's technology, designed to actively prevent driver distraction from mobile phones, addresses a critical safety issue in the transportation industry. The ability to both pre-install and retrofit the solution demonstrates its flexibility and potential for wide-scale adoption. However, the technical challenges of integrating with Volvo's systems and ensuring compatibility across different bus models shouldn't be underestimated. The success of these pilots will largely depend on the reliability and effectiveness of SaverOne's solution in real-world conditions. Investors should pay attention to any reported technical issues or performance metrics during the pilot phase. If successful, this could pave the way for SaverOne to become a standard safety feature in commercial vehicles, significantly expanding its market potential beyond buses to other vehicle types within the Volvo Group and beyond.

Petah Tikvah, Israel, Sept. 17, 2024 (GLOBE NEWSWIRE) -- SaverOne 2014 Ltd. (Nasdaq: SVRE, TASE: SVRE), a technology company engaged in disruptive transportation safety solutions, today announced the launch of four new pilot projects with customers of Volvo Buses Mexico. This follows the OEM agreement signed with Volvo Group in March 2024, which allows for the SaverOne Safety Solution to be pre-installed following integration into Volvo’s assembly line as well as an aftermarket retrofit installation.

The pilots cover a total of 20 buses which will be retrofitted with SaverOne’s innovative technology, which is designed to actively prevent bus drivers from being distracted by their mobile phones. The pilots will be conducted in two regions: Mexico City, focusing on intercity buses, and Monterrey, focusing on city buses.

Volvo Buses, a subsidiary of the major Swedish vehicle maker Volvo Group, is one of the world's largest bus manufacturers, offering a complete range of heavy buses for passenger transportation.

Mr. Ori Gilboa, CEO of SaverOne, commented, “We are incredibly proud of our developing collaboration with Volvo Buses, a major bus manufacturer and leader in the transportation sector. These pilot projects in Mexico are the initial fruits of our recent OEM agreement with Volvo Group and marks a significant step forward in SaverOne’s ongoing activities to broaden its global reach. Furthermore, this OEM agreement provides for significant potential to extend our collaboration with other Volvo subsidiaries throughout the world.”

Continued Mr. Gilboa, “These four new customers are important bus operators in Mexico and the potential from these pilots are hundreds of additional buses. As these pilots demonstrate, in 2024, we are becoming increasingly successful at broadening our operations across multiple regions, including Europe, the United States and Mexico. We see immense further potential in our Volvo Bus collaboration, and we are excited about the possibilities it holds for the future.”

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 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; market acceptance of SaverOne’s protection solutions; the success of the pilot projects with Volvo Mexico; SaverOne’s ability to successfully broaden its operations globally over multiple regions; 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 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

FAQ

What is the nature of SaverOne's pilot projects with Volvo Buses Mexico?

SaverOne is launching four pilot projects involving the retrofit of 20 buses with their safety technology, designed to prevent driver distraction from mobile phones. The pilots are taking place in Mexico City for intercity buses and Monterrey for city buses.

How many buses are involved in SaverOne's pilot projects with Volvo Buses Mexico?

The pilot projects involve a total of 20 buses that will be retrofitted with SaverOne's technology.

When did SaverOne (SVRE) sign the OEM agreement with Volvo Group?

SaverOne signed the OEM agreement with Volvo Group in March 2024, allowing for pre-installation and aftermarket retrofit of their safety solution.

What are the potential benefits of SaverOne's (SVRE) collaboration with Volvo Buses?

The collaboration with Volvo Buses offers SaverOne the potential to expand to hundreds of additional buses in Mexico and possibly extend their partnership to other Volvo subsidiaries worldwide, broadening their global reach.