SaverOne System Installed on the Delivery Trucks of Tempo Beverages- Israel's Leading Beverage Company
SaverOne 2014 Ltd. (NASDAQ: SVRE) announced a contract with Tempo Beverages Ltd, Israel's largest brewer, to install its driver safety system on 30 out of 120 delivery trucks. This move aims to reduce accidents caused by mobile phone distractions in commercial fleets, enhancing safety and operational efficiency. The company's strategy focuses on international growth and the installation of its solution across various markets, including the U.S. and Europe. With rising interest in cellular distraction prevention technologies, SaverOne stands to benefit from anticipated regulatory changes.
- Contract with Tempo Beverages to install system on 30 delivery trucks.
- Potential for significant growth in the delivery truck sector.
- International expansion strategy supported by partnership with a major brand.
- Only 30 trucks equipped out of a total of 120, indicating limited initial deployment.
The vertical of delivery trucks represents significant growth potential for SaverOne as well as further potential with international brands
PETAH TIKVAH, Israel, Jan. 11, 2023 /PRNewswire/ -- SaverOne 2014 Ltd. (NASDAQ: SVRE) (TASE: SVRE), a technology company engaged in transportation safety solutions, today announced that Tempo Beverages Ltd, Israel's largest brewer and Israel's second-largest beverage company, has signed a contract to install the SaverOne system on its delivery trucks, which handle all Tempo products including bottled drink delivery, throughout Israel. Tempo represents leading global brands such as PepsiCo, Nestle's premium water and iced tea brands, Nestea, Perrier water, and many more.
In the current phase, the installation of the SaverOne System has been completed on a group of 30 delivery trucks out of the local fleet of 120.
Mr. Gilboa, CEO of SaverOne commented, "Tempo is another key customer for us with a large fleet of trucks. Furthermore, our relationship with Tempo with its strong international brands and contacts, can further enhance our strategy of international growth and expansion. Delivery trucks tend to be more prone to accidents given the long hours on the road. This vertical of delivery trucks is a key growth area, as we believe that our system can not only ultimately save lives but can also lower the risk of significant costs, inventory losses and disruption to companies, reliant on delivery."
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
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/
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 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; 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; the impact of the COVID-19 pandemic, and resulting government actions on us; and other risks and uncertainties, including those listed in the section titled "Risk Factors" in the final prospectus on Form 424b4 filed with the Securities and Exchange Commission on June 6, 2022. 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
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