SaverOne to Protect the Trucks of one Israel's Leading Shipping & Logistics Companies

Rhea-AI Summary

SaverOne 2014 Ltd. (Nasdaq: SVRE) has launched the installation of its SaverOne Protection System in 20 out of 150 trucks for Moviley Dror, a transportation partner of international logistics leader Fritz. This initiative represents the first phase of a potential expansion across Moviley Dror's fleet and partners, aiming for broader market penetration.

CEO Gilboa highlighted that this success aligns with their strategy to target local transportation companies, facilitating opportunities for global expansion.

Positive

• Initial installation of SaverOne Protection System in 20 trucks, allowing potential future expansion across a fleet of 150 trucks.
• Partnership with Moviley Dror, associated with international logistics leader Fritz and FedEx, enhancing credibility and market presence.
• Focus on addressing mobile distraction in vehicles, targeting significant safety concerns and potential regulatory compliance.

Negative

• None.

Initial installation on 20 of Moviley Dror's local delivery trucks out of 150 in Israel

PETAH TIKVAH, Israel, Sept. 29, 2022 /PRNewswire/ -- SaverOne 2014 Ltd. (Nasdaq: SVRE, TASE: SVRE), a technology company engaged in transportation safety solutions, today announced the installation of the SaverOne Protection System into the trucks of Moviley Dror, the local transportation partner of Fritz, which is a leader in international logistics and shipping for the supply chain market and a partner of international shipping giant, FedEx.

In the first phase, SaverOne systems will be installed into an initial batch of 20 trucks out of a fleet of 150 trucks in Israel. The potential for SaverOne is to expand sales across Moviley Dror's entire fleet in Israel and ultimately penetrate the fleets of its partners both locally and globally.

Mr. Gilboa, CEO of SaverOne commented, "This is another successful penetration for SaverOne, which gives us substantial potential to expand our footprint in the coming months and years. It is in line with our strategy of initially focusing our efforts on transportation companies in the local market that can offer strong potential for global expansion. We look forward to further growing our sales and advancing our strategy of building relationships with multinational organizations."

About the SaverOne System

SaverOne systems can be installed in private vehicles, trucks and buses and provide a solution to the problem of driver distraction away from the road, that results from drivers using specific distracting applications on the mobile device while driving, in a way that endangers their safety and the safety of 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 device 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 navigation, without user intervention or consent, creating a safer driving environment.

SaverOne's primary target markets include commercial and private vehicle fleets, as well as insurance and leasing companies that are very interested in reducing potential damages and significant costs. SaverOne is initially addressing 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 longer-term strategy is to address vehicle manufacturers, to install the Company's protection technologies in the vehicle manufacturing process as an OEM.

About SaverOne

SaverOne is a technology company engaged in the design, development and commercialization of transportation safety solutions designed to save lives by preventing car accidents resulting from distraction, by the use of mobile phones while driving. The SaverOne system provides an advanced driver safety solution that can identify and monitor mobile phones located in the driver's vicinity and selectively block use of distracting applications that may become life-threatening.

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 significance of SaverOne's installation in Moviley Dror's trucks?

The installation of SaverOne's Protection System in Moviley Dror's trucks marks a strategic entry into the transportation safety market, with potential for broader fleet deployment.

What are SaverOne's future expansion plans?

SaverOne aims to expand its protection systems across Moviley Dror's entire fleet and potentially penetrate international markets through partnerships.

How does SaverOne's technology enhance road safety?

SaverOne's technology reduces driver distraction by blocking access to specific mobile applications while allowing safe navigation, addressing a major cause of road accidents.

What are the key markets for SaverOne's products?

SaverOne targets commercial and private vehicle fleets, insurance and leasing companies, particularly in Israel, Europe, and the US.

What is the potential impact of upcoming EU regulations on SaverOne?

Upcoming EU regulations focusing on driver distraction are likely to increase demand for SaverOne's safety systems.