SaverOne System Installed on the Large Food Delivery Trucks of Shufersal - Israel's Leading Supermarket
SaverOne 2014 Ltd. (Nasdaq: SVRE) announced the trial installation of its safety system on 19 large delivery trucks for Shufersal, Israel's leading food retail chain. This marks a significant milestone as it opens potential for further installations across Shufersal's additional fleets, potentially impacting hundreds of vehicles. The SaverOne technology aims to reduce driver distraction from mobile phones, which is a major cause of road accidents. The company anticipates that broader adoption of its systems could significantly lower accident rates, thus impacting operational costs and enhancing safety standards in the transportation sector.
- Successful trial installation of SaverOne system on 19 delivery trucks at Shufersal.
- Potential for further installations across Shufersal's fleet, indicating strong growth prospects.
- Technology targets a major cause of accidents, which could lead to lower insurance costs and operational risks.
- None.
The new vertical of delivery truck represents significant growth potential for SaverOne.
PETAH TIKVAH, Israel, Jan. 19, 2023 /PRNewswire/ -- SaverOne 2014 Ltd. (Nasdaq: SVRE) (TASE: SVRE), a technology company engaged in transportation safety solutions, today announced that Shufersal, Israel's leading retail food chain, has installed the SaverOne system on part of its fleet of large food delivery trucks, which handle food delivery between its logistic centers.
In the first phase which is a trial phase, the installation of the SaverOne System was completed on a group of 19 large delivery trucks out of the Shufersal truck fleet of 150. Furthermore, there is significant potential for further installations beyond this fleet, as Shufersal operates a further fleet of a few hundred smaller trucks for the delivery of food to the home.
Mr. Gilboa, CEO of SaverOne commented, "Shufersal is a new and important flagship customer for us in Israel, and following the trial we see potential to significantly expand installations into the rest of its fleet, representing hundreds of vehicles. Delivery trucks have the possibility to be more prone to accidents than average if delivery drivers use their phones to organize their work and to navigate to their delivery destination while driving. Given the significant time that these drivers spend on the road and their reliance on their phones for their work, their phones also have the potential to cause a distraction from non-essential apps while driving. Our SaverOne system can help to prevent distracting activities that can cause accidents such as messaging, while allowing non-distracting activities such as navigation and upcoming deliveries. We believe that our SaverOne system will help Shufersal ultimately lower the accident rates of its delivery trucks. This vertical of delivery trucks is a key growth area, as our system not only has the ability to ultimately help to save lives, but will also lower the risk of significant costs, inventory losses and disruption to companies that are reliant on delivery services."
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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