PETAH TIKVAH, Israel, July 18,
2023 /PRNewswire/ -- SaverOne 2014 Ltd. (Nasdaq:
SVRE) (TASE: SVRE), a technology company engaged in
advanced transportation safety solutions, today announced one of
the largest contracts it has achieved in its history. Following two
prior orders covering portions of its fleet, Cemex Israel, the
Israeli subsidiary of the global Cemex Group, has decided to
install SaverOne's technology across its entire employee car fleet
and trucks.
Following a successful trial in mid-2022, Cemex Israel installed
the SaverOne system on an additional portion of its fleet at the
end of 2022. Including this new current order, Cemex Israel will
have deployed the SaverOne System on over 380 vehicles within its
vehicle fleet.
Cemex Group is a global leader in the building materials
industry, and the international parent company represents
significant further potential for SaverOne.
Mr. Ori Gilboa, CEO of
SaverOne, commented, "We take great pride in our cooperation
with Cemex Israel. This significant order is a milestone order for
SaverOne, demonstrating the success of our land-and-expand strategy
through our pilot phases, where an initial penetration into a
highly strategic company for us, turned into an order covering
their entire truck fleet and following that, expanding to the
entire employee vehicle fleet. It is a strong testament to the
value that our product brings in enhancing Cemex's safety
standards. Over the past two years, our focus has been on
establishing initial penetrations with companies operating large
global fleets, all of which present substantial potential for
SaverOne. We are seeing increased traction with this strategy and
are increasingly realizing its significant potential. Looking
ahead, we believe that we have never been better positioned to grow
and expand sales to both existing customers as well as penetrate
new customers throughout the world."
Mr. Yuval Avni, VP of
Operations, Engineering & Supply Chain at Cemex Israel,
added, "At Cemex Israel, the safety of both our personnel and
those we share the roads with is of utmost importance. Working with
SaverOne and integrating their technology into our fleet marks a
strong step forward in enhancing our safety protocols. Following
many months of trialing SaverOne's solution, we believe that it
significantly reduces driver distraction, ultimately leading to
fewer accidents, making roads safer for everyone."
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.
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 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
conditionand 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.
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International Investor Relations Contact:
Ehud Helft
+1 212 378 8040
averone@ekgir.com
Israeli Investors Contact:
Jonathan Eilat
John@theinvestor.co.il
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SOURCE SaverOne