SaverOne Launches New Pilot Project in the United States

Rhea-AI Summary

SaverOne 2014 Ltd. (SVRE) launches a pilot project with Motor Supply, Inc. to enhance road safety in the U.S. The project aims to reduce accidents through cutting-edge technology, potentially expanding to the entire fleet.

Insights

Market Research Analyst

The collaboration between SaverOne and Motor Supply represents a strategic move to enhance road safety through advanced technology. From a market perspective, the pilot project's success could signal a new trend in the trucking industry where safety systems become a competitive differentiator. The potential expansion of this technology across Motor Supply's fleet and possibly to other companies in the region could result in increased demand for SaverOne's products, potentially influencing the company's market share and revenue growth.

However, the adoption rate of such technology is contingent on the pilot's outcome and the perceived ROI by other trucking firms. Should the system prove to reduce accidents significantly, it could lead to regulatory changes mandating such technologies, further impacting the industry. Tracking the progress of this pilot and subsequent adoption rates will be crucial for stakeholders to understand the market dynamics and potential growth trajectory for SaverOne.

Transportation Safety Expert

The integration of SaverOne's System into Motor Supply's fleet brings attention to the critical issue of driver distraction, a leading cause of accidents in the trucking industry. If the system proves effective in reducing such incidents, it could set a benchmark for safety standards within the sector. The long-term implications for the industry could include not only improved safety records but also potential reductions in insurance premiums and liability costs for compliant companies.

Moreover, the success of this pilot could encourage further innovation and investment in transportation safety technologies, leading to a more sustainable and secure environment for the trucking industry. It is important to monitor the results of the pilot for data on accident reduction and cost savings, which could be a compelling case for widespread adoption.

Financial Analyst

The pilot project's outcome could have significant financial implications for SaverOne, particularly if the technology is adopted across Motor Supply's entire fleet and by other companies. The initial investment in research and development by SaverOne may lead to substantial returns if the pilot results in contracts with Motor Supply and serves as a catalyst for further industry adoption.

Investors should consider the scalability of SaverOne's technology and the potential for recurring revenue through software updates or service agreements. The pilot's duration of 12 months provides a substantial timeframe to evaluate the system's effectiveness and financial impact. It will be important to analyze the cost-benefit ratio for Motor Supply, as the savings from reduced accidents and improved efficiency must outweigh the costs of implementing SaverOne's System for the project to be deemed a financial success.

PETAH TIKVAH, Israel, Feb. 22, 2024 /PRNewswire/ -- SaverOne 2014 Ltd. (Nasdaq: SVRE) (TASE: SVRE), a technology company engaged in transportation safety solutions, today announced that it has launched a new pilot project in the United States with Motor Supply, Inc.

Motor Supply is a trucking company based in Columbia, South Carolina that is focusing on leveraging the latest technology to efficiently transport goods across the United States. SaverOne's System was installed on a portion of Motor Supply's fleet of sixteen trucks. The pilot is expected to run over a period of 12 months and, if successful, potentially expand to the rest of the fleet and any future trucks that Motor Supply may operate.

Mr. Alex Abrashkin, Founder and CEO of Motor Supply commented, "Our mission is to revolutionize the transportation of goods across America by developing and harnessing cutting-edge technology for unparalleled efficiency. Part of that is our commitment to a strong culture of road and driver safety. This is a top priority for us and we are always looking for technologies that will enhance driver safety and reduce the likelihood of accidents. We were very impressed with the potential of the SaverOne System in reducing accidents from driver distraction and we are very much looking forward to a successful partnership with SaverOne."

Ori Gilboa, CEO of SaverOne, stated, "We are very happy to work with Motor Supply, a U.S. company known for its technological leadership in the trucking industry. This is our first pilot project in the Carolinas' region of the United States and we hope that a successful pilot will not only lead to the implementation of our system across their full fleet, but will also act as a showcase for other large fleets in the region interested in leveraging our technology to improve road safety."

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 Motor Supply Inc.

Motor Supply, Inc., headquartered in Columbia, SC, is making waves in the trucking industry through its tech-forward approach. The company offers a variety of freight services and has developed its own proprietary AI-powered dispatching software called LoadFlow^TM.

Since its establishment in 2019, Motor Supply has transported millions of pounds of diverse freight, from essential food and consumer goods to pharmaceuticals and COVID-19 tests, all while maintaining a strong position at the forefront of safety and trucking technology.

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 the ticker symbol for SaverOne 2014 Ltd.?

The ticker symbol for SaverOne 2014 Ltd. is SVRE.

What is the new pilot project launched by SaverOne 2014 Ltd. in the United States?

SaverOne 2014 Ltd. has launched a new pilot project with Motor Supply, Inc. in the United States to enhance road safety.

Who is the CEO of Motor Supply, Inc.?

The CEO of Motor Supply, Inc. is Mr. Alex Abrashkin.

What is the goal of the pilot project between SaverOne 2014 Ltd. and Motor Supply, Inc.?

The goal of the pilot project is to reduce accidents through cutting-edge technology and potentially expand to the entire fleet.

Where is Motor Supply, Inc. based?

Motor Supply, Inc. is based in Columbia, South Carolina.