Added a record 299 new installations during July
2023
PETAH TIKVAH, Israel, Aug. 1, 2023
/PRNewswire/ -- SaverOne 2014 Ltd. (Nasdaq: SVRE)
(TASE: SVRE), a technology company specializing in
transportation safety solutions, announced that July 2023 was a record month for new
installations of its Driver Distraction Prevention Solution (DDPS).
During July, the Company installed its innovative safety solution
on 299 new vehicles and ended the month with an install-base of
approximately 2,700 in the Israeli market, reflecting growing and
broad adoption of SaverOne's DDPS system.
![SaverOne Logo SaverOne Logo](https://mma.prnewswire.com/media/1978170/SaverOne_Logo.jpg)
Ori Gilboa, CEO of
SaverOne, commented, "This record level of installations in the
past month, demonstrates that SaverOne continues to progress in the
right direction. Furthermore, based on our open orders, we expect
to continue growing our install-base for the foreseeable future.
Another positive sign is that while our installations are currently
predominantly in Israel, a growing
portion of our customers are local subsidiaries of global
companies, and we intend to leverage them to access their global
headquarters and fleet, as part of our expansion into international
markets."
Continued Mr. Gilboa, "I am thrilled that SaverOne
is now firmly in the early revenue growth phase in its corporate
lifecycle. We look forward to continuing to broaden our customer
base and accelerate the growth of our install-base in the months
and years ahead."
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