SaverOne System to be Installed on Brimag's Entire Fleet of Technician Vehicles

Rhea-AI Summary

SaverOne 2014 Ltd. (NASDAQ: SVRE) has announced that Brimag, a leading Israeli distributor of home appliances, will install its SaverOne System in their entire technician fleet. Following a successful trial with ten vehicles, the system significantly improved driving behavior by reducing phone distractions, enhancing safety. The installation will cover 50 additional vehicles shortly. SaverOne's technology aims to prevent mobile phone-related driving distractions, addressing a critical safety issue linked to numerous road accidents, with the annual cost in the U.S. estimated at $870 billion.

Positive

• Successful trial of SaverOne System with ten vehicles led to a significant improvement in driving behavior.
• Brimag will install the SaverOne System across an additional 50 technician vehicles, expanding market reach.

Negative

• None.

Following a successful trial SaverOne System to prevent driver distraction to be installed across the entire technician fleet of Brimag's customer service subsidiary

PETAH TIKVAH, Israel, Dec. 6, 2022 /PRNewswire/ -- SaverOne 2014 Ltd. (NASDAQ: SVRE) (TASE: SVRE) a company developing and deploying transportation safety and advanced driver-assistance systems (ADAS) technologies and solutions, today announced that Brimag, one of Israel's leading importers and distributers of home appliances and consumer electronics, has decided to install the SaverOne System across its entire fleet of technician vehicles.  

Brimag provides warranties for all the products it sells and via its service subsidiary, operates a fleet of technician vehicles which provide an efficient repair service for its customers, at their homes.  

This new win follows a trial of the SaverOne system among an initial group of ten technician vehicles and was shown to improve the driving behavior of those technicians, lowering the distractions from their phones which ultimately lowers the risk of an accident occurring. In the coming weeks, the SaverOne System will be installed on 50 further technician vehicles. 

Mr. Ori Gilboa, CEO of SaverOne commented, "Technicians are a high risk group when it comes to vehicle accidents, spending a significant time on the road between jobs and use their phones to organize their work, with some doing so while driving. Their involvement in accidents tends to be higher than that of the population average. Our system prevents distracting activities such as messaging which can cause accidents, while allowing non-distracting activities such as navigation. We believe our system will help Brimag lower the accident rate among its technicians, allowing it to improve the overall quality of its service levels to customers. This new vertical of technician vehicles is important, as our system will not only ultimately save lives but will also lower the risk of significant costs and disruption to their employers." 

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 (e.g. navigation), 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/ 

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

FAQ

What is the SaverOne System and how does it work?

The SaverOne System is designed to prevent driver distractions by limiting access to distracting phone applications while allowing essential functions like navigation.

When will Brimag install the SaverOne System in their technician fleet?

Brimag plans to install the SaverOne System across 50 technician vehicles in the coming weeks.

What company has partnered with SaverOne for the installation of their system?

SaverOne has partnered with Brimag to install their safety system in Brimag's fleet of technician vehicles.

What are the expected benefits of the SaverOne System for Brimag?

The SaverOne System is expected to lower the accident rate among Brimag's technicians, improving service quality and reducing potential costs.

How does the SaverOne System impact the safety of vehicle operations?

The SaverOne System addresses mobile phone distractions, a significant factor in road accidents, thus enhancing overall vehicle safety.