SaverOne to Install its System Across Entire Strauss Group Fleet

Rhea-AI Summary

SaverOne 2014 Ltd. announced that its SaverOne system will be installed across Strauss Group's entire fleet in Israel, following a successful trial on 17 trucks that showed a notable reduction in accident rates. This strategic win demonstrates the strong value-add of SaverOne's systems and the potential for international expansion. The partnership with Strauss, which is partnered with Frito-Lay, a U.S. subsidiary of PepsiCo, opens doors for further penetration into multinational organizations.

Insights

Market Research Analyst

Installation of the SaverOne system across Strauss Group's fleet represents a strategic move that could influence the company's operational costs and public image. The reduction in accident rates during the trial period suggests that the technology can enhance safety measures, potentially lowering insurance premiums and reducing costs associated with accidents, such as repairs and legal fees. In the long-term, this could lead to improved profit margins for Strauss Group.

Furthermore, the adoption of such technology by a major player like Strauss could set a precedent in the food manufacturing and delivery industry, possibly leading to increased demand for safety solutions. As a result, companies like SaverOne could see a significant uptick in business, affecting their revenue and growth projections. Investors might view this as a positive indicator of SaverOne's market penetration capabilities and future sales potential.

Financial Analyst

The announcement of SaverOne's system deployment in Strauss Group's fleet can be seen as a catalyst for future financial performance. For SaverOne, securing a contract with a high-profile client enhances its credibility and market position, which could lead to an uptick in investor confidence and potentially its stock price. Investors will be monitoring the impact of this deployment on SaverOne's revenue stream and profit margins, as well as any indicators of additional contracts with multinational companies.

On the other hand, Strauss Group's investment in SaverOne's technology may be significant upfront but should be evaluated against the backdrop of long-term savings and the potential for a positive return on investment through reduced accident-related expenditures.

Transportation Safety Expert

The implementation of the SaverOne system in a large fleet like Strauss Group's is a notable development in the field of transportation safety. The system's ability to reduce accident rates is not only beneficial for the safety of employees and the public but also reflects a growing trend in the transportation industry towards leveraging technology for enhanced safety measures.

While the exact features of the SaverOne system are not detailed, it is important to understand that such systems typically involve advanced driver assistance features or driver monitoring to prevent accidents. These technologies can be crucial in reducing human error, which is a leading cause of traffic accidents. The broader implications of this technology's adoption could lead to industry-wide improvements in safety standards and practices.

PETAH TIKVAH, Israel, Jan. 22, 2024 /PRNewswire/ -- SaverOne 2014 Ltd. (Nasdaq: SVRE) (TASE: SVRE), a technology company engaged in advanced transportation safety solutions, today announced that the SaverOne system will be installed across Strauss Group's entire fleet in Israel. Strauss Group is one of the largest food manufacturers in Israel with a fleet of over 80 food delivery trucks.  

The new order, covering the entire Strauss delivery fleet, follows a successful trial on 17 Strauss trucks, in which Strauss' management noted a statistically significant and notable reduction in accident rates in the trucks that had the SaverOne system installed. 

Mrs. Keren Golan, Manager of Transportation at Strauss, commented, "We were very impressed with the performance of the SaverOne system, and especially with the notable reduction in what would be the typical accident rate among the delivery trucks which had the system installed. The responsible use of our delivery truck fleet on the road system, as well as the safety of our employees and other drivers and road users, is of paramount importance to Strauss. Installing the SaverOne system across our entire fleet demonstrates our commitment to safety and responsible road use." 

Mr. Ori Gilboa, CEO of SaverOne, commented, "We are proud of this win, representing a breakthrough for SaverOne, whereby a successful trial has now expanded into a full deployment across their entire fleet. It demonstrates the strong value-add that they see in our systems. Furthermore, Strauss is partnered with Frito-Lay, a U.S. subsidiary of multinational food and beverage company, PepsiCo. This win in this key vertical is highly strategic for us with potential to expand our footprint internationally, with all of these world-leading food manufacturers which have thousands of delivery trucks operating globally. This win is also a strong testament to the success we are seeing in executing our strategy and building relationships with the potential to lead to further penetration into multinational organizations."

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.

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 

Logo: https://mma.prnewswire.com/media/1978170/SaverOne_Logo.jpg

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SOURCE SaverOne

FAQ

What company announced the installation of the SaverOne system across Strauss Group's fleet?

SaverOne 2014 Ltd. announced the installation of the SaverOne system across Strauss Group's fleet.

What was the result of the trial on 17 Strauss trucks?

The trial showed a notable reduction in accident rates on the trucks that had the SaverOne system installed.

Who is the CEO of SaverOne?

Mr. Ori Gilboa is the CEO of SaverOne.

What is the ticker symbol for SaverOne?

The ticker symbol for SaverOne is SVRE.

Which multinational company is Strauss Group partnered with?

Strauss Group is partnered with Frito-Lay, a U.S. subsidiary of PepsiCo.

What is the potential impact of the partnership with Strauss Group?

The partnership opens doors for further penetration into multinational organizations for SaverOne.