SaverOne: An Emerging NASDAQ Company Aiming to Save Lives by Eliminating Distracted Driving Caused by Cell Phone Usage
A Game Changing Solution is Being Offered to the $870B Road Accident Problem in the U.S. and it Could Soon Catapult SaverOne Ltd. (NASDAQ: SVRE) into Wall Street’s Spotlight.
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Distraction from cell phone use is not a matter of fate!
SVRE’s unique Distracted Driving Protection System (DDPS) is installed in vehicles to provide a solution to the problem of driver distraction that endangers their safety and the safety of their passengers.
“Preventable accidents continue to claim lives and cause injuries. Our DDPS ensures that drivers remain focused on driving safely and undistracted, mitigating a significant risk."
CEO Ori Gilboa
A big problem…
The CDC tells us that over 3,000 people will die from distracted driving in 2023. These are deaths that could be avoided!
Just imagine this: You are driving 55 miles per hour, and you take your eyes off the road for just 5 seconds to look at your phone. That 5 seconds is traveling the entire length of a football field all while being distracted.
Cellular distraction is the leading cause of road accidents. Distracted driving is now a global traffic safety issue that doesn’t nearly get enough discussion.
In the U.S. alone, 1.6 million traffic accidents and 4,600 fatalities are directly caused by cell phone distraction every single year.
In almost every U.S. state, using your cell phone while driving is not only dangerous but also illegal. This unfortunately does not stop many people from doing it.
With busy lifestyles and cell phones offering all kinds of apps and tools, it’s no surprise that many people are on their phones while driving.
The good news is that there is a solution…
Israel-based SVRE is a growing NASDAQ company that has a line of products and solutions aimed at saving lives by preventing car accidents due to distracted driving.
While most existing safety measures focus on reducing damage, warning of the risk of an accident, or correcting driver errors, SaverOne controls/preempts the distraction.
With customers and strategic partners, companies like Iveco, one of the largest Truck manufacturers and Cemex Group (NYSE: CX) a global leader in the building materials , SVRE is rapidly inking deals and bringing their products to the roads.
New and growing orders demonstrate that customers and potential customers are increasingly recognizing the value of the company’s solutions, both in Israel and internationally.
The TOP 10 Reasons to have SVRE on Your Radar:
- The company is underfollowed. There is tremendous potential for market cap growth ahead while building shareholder value.
- Talented leaders are at the reign. Management has 100+ years of combined experience and a deep knowledge of automotive safety and insurance. CEO Ori Gilboa has over 25 years of experience in the automotive and retail industry and prior to SaverOne, he served as CEO for James Richardson and the Negev Group, as well as General Manager of the auto division for Mayer’s cars and trucks.
- The company's technology is visionary and disruptive. Technology offers a fast, accurate, and robust identification of the driver's location. It also has deep AI domain use.
- A strong market validation. The company has demonstrated successful programs with top-tier global companies and has a case study with major OEMs to be replicated globally.
- Diversity of customer base. Customers include commercial fleets, privates, governmental organizations, as well as a diversity of automobile types (trucks, buses, private cars, etc.)
- Already recognized and growing. 4,800 systems have been ordered by customers as of August 26, 2024, of which approximately 3,750 have been installed. Pilots in USA and Europe.
- Recurring value. The company has an optimal SaaS product with a massive TAM. Growth engine for vehicle manufacturers to drive recurring value.
- Recent milestones are leading to accelerated growth. Second-generation technology and a global after-market product launch are fortifying an anticipated global expansion. Israel has functioned as a Mega Pilot Program, showing the company’s global potential and multiple active customers are international companies who can be targeted for future global expansion.
- A humanitarian signature. The company's technology has the potential to create a global, history mark on humanity. Increased government regulations, as well as the difficulty in enforcing laws, have led to a growing need for the company’s solution.
- Rising financial and social costs. The average settlement cost for a fatal accident involving a commercial fleet driver is $11M. The total cost of traffic accidents in the U.S. is $850B+. And distracted driving costs employers over $60B.
What is the Company doing?
Founded in 2014 with a mission to make roads safer for drivers, passengers, and pedestrians alike, SaverOne develops cellular network-based technological solutions for reducing road accidents.
The company’s innovative system for identifying and limiting the use of certain apps on mobile devices while operating a vehicle has already been widely adopted by dozens of companies in Israel.
SaverOne has developed proprietary technology to create an innovative two-tier solution:
Stop the driver’s
cell phone distractions.
Protect pedestrians
(VRU’s).
The company offers a complete solution to stop drivers from texting while driving.
- It automatically identifies which phone belongs to the driver and distinguishes dangerous applications, like texting and social media, from non-dangerous ones, like navigation.
- It keeps the driver’s phone blocked while the vehicle is in motion.
- It conveniently enables fleet managers to decide which apps are permitted versus prohibited.
One system… many advantages.
Fully supported in Android and iOS phones, SVRE’s system supports up to 5 phones in the vehicle and up to 3 connected to the system. There is an alarm when the system finds an unconnected phone located in the driver’s area.
The system blocks the driver’s incoming messages while driving with an automatic text response.
Over the air software updates are seamless.
A broad answer to business needs…
Any company or organization that is interested in protecting its employees from cell phone distractions and owns:
- Private vehicles
- Commercial vehicles: small, medium or heavy-duty trucks
- Public transportation fleets
- Leasing companies
- Offering safer vehicles to customers
Insurance companies
Offering premium incentive through safer driving with SaverOne protection.
Vehicle manufacturers
Integrating SaverOne’s Distracted Driving Protection technology is in development.
Major Milestones
To fuel their growth initiatives, Volcon successfully closed a $700,000 underwritten public offering. This financial milestone provided essential funds for their strategic plans and expansion efforts.
NEW PRODUCT TO PROTECT PEDESTRIANS
SVRE is developing an additional system that can detect and warn the driver of VRU’s (Vulnerable Road Users and pedestrians) crossing when the driver’s field of vision is extremely limited. This system is currently in advanced stages of development.
External Analysis Projects Annual $1.5 Billion Market Potential by 2035 for its RF-ADAS Technology
On June 3rd, the Company said it will establish a new company dedicated to its Vulnerable Road User (VRU) solution which leverages its RF Advanced Driver Assistance System (ADAS) sensor technology. The consultancy firm's analysis projects a market potential annually of $1.5 billion by 2035, for SaverOne’s RF ADAS technology, which enhances vehicle safety by detecting VRUs such as pedestrians and cyclists even in non-line-of-sight scenarios, a problem that no existing sensor, that, for example, camera, radar or LIDAR, can currently solve. Recently, SaverOne announced a purchase order from leading European OEM, IVECO, for a paid proof-of-concept (POC) order of its VRU solution.
THE CHALLENGE: VRU SAFETY
Vulnerable-Road-Users (VRUs): pedestrians and cyclists are ‘glued’ to their smartphones. VRUs are estimated to be 70% of the death cases in urban accidents, and almost 40% of them are pedestrians.
Safety risks of pedestrian crossing points with reduced visibility are high.
The challenge increases due to adverse weather conditions & Non-Line-of Sight (NLoS) – where performance of Radar, Lidar and Camera is degraded. These things provide vehicle situational awareness.
SVRE’s technology enhances the performance of the sensor team (Camera, Lidar and Radar) through its superior abilities to deal with the NLoS, adverse weather conditions and low visibility in a way that no other sensor can.
- It is the only sensor that detects if the VRU is distracted by his smartphone.
- It alerts the driver / ADAS in real-time about the estimated time-to-collision.
- It does not need an application on the VRU’s smartphone for the detection.
The technology currently OVERCOMES current sensor’ limitations as seen below:
Speaking about the company's milestones in 2024:
"We are working to expand our global footprint with key existing customers by penetrating their international subsidiaries. We have also initiated new pilot projects in the United States, Europe and Latin America and have also secured initial commercial orders. International expansion requires significant effort, and in 2024, we have made substantial progress in establishing SaverOne as a global business. We remain optimistic and expect a renewed growth trend in the coming months.”
- CEO Mr. Ori Gilboa
SaverOne Ltd. (NASDAQ: SVRE) Zooms in on an Opportunity to Address an Annual Market Size of $1.5 billion by 2035!
In a vision to protect vulnerable road users (VRUs), the company is planning a new subsidiary to develop and commercialize the technology!
Major Developments in 2024 Include:
SaverOne Announces New Pilot with Malta Public Transport Company
On September 18th, the company announced the launch of a new pilot project with the national bus operator of Malta, Malta Public Transport Company (MPTC). MPTC, as part of its ongoing evaluation of new safety solutions and technologies. SaverOne will be conducting tests of the SaverOne system over the coming months. The installation was performed in collaboration with SaverOne's regional distributor, GVZ Components.
SaverOne Launches Four Pilot Projects with Customers of Volvo Buses Mexico
On September 17th, the company announced the launch of four new pilot projects with customers of Volvo Buses Mexico. This follows the OEM agreement signed with Volvo Group in March 2024, which allows for the SaverOne Safety Solution to be pre-installed following integration into Volvo’s assembly line as well as an aftermarket retrofit installation.
Froneri Israel Orders SaverOne Systems to Provide Safety Coverage for its Entire Fleet
On September 6th, the company revealed that Froneri extended its agreement with SaverOne and will update and equip SaverOne systems across its entire fleet of employee vehicles and distribution trucks in Israel. Froneri was among the first companies to install the SaverOne System within its fleet to counteract driver distraction, back in 2021.
SaverOne Granted New European Patent
On May 14th, the company announced a new European patent encompassing SaverOne’s innovative system and groundbreaking methods that employ machine learning and channel fingerprinting techniques.
SaverOne Expands its Collaboration with IVECO with its Vulnerable Road User Solution
On May 9th, the company announced that it had received a purchase order for a vulnerable road user (VRU) proof-of-concept (POC) from IVECO, the brand of Iveco Group N.V. (EXM: IVG), that designs, manufactures and markets light, medium and heavy commercial vehicles. The POC will present SaverOne’s radio frequency (RF)-based solution that could be integrated in the vehicle Advanced Driver-Assistance System (ADAS) logics to enhance vehicle safety. This follows the entry in March 2024 of an OEM collaboration agreement between SaverOne and IVECO to integrate SaverOne’s in-cabin safety technology within IVECO’s vehicles. SaverOne and IVECO will collaborate to define and develop the POC VRU solution for IVECO. This solution is expected to be installed in one of IVECO’s vehicles in Europe later this year after which it will be demonstrated to various stakeholders within IVECO.
IVECO is a leading European vehicle manufacturer and this agreement represents a very significant strategic move that strongly expand the company's footprint in European markets!
SaverOne Launches New Pilot Project in the United States with Motor Supply, Inc., a trucking company based in Columbia, South Carolina.
On February 22nd, The company launched a new pilot project in the United States with Motor Supply, Inc. SaverOne's System was installed on a portion of Motor Supply's fleet of sixteen trucks. The pilot is expected to run over a period of 12 months and, if successful, could potentially expand to the rest of the fleet and any future trucks that Motor Supply may operate.
SaverOne Granted New US Patent Strengthening its IP portfolio Supporting its Transportation Safety Solution.
On February 13th the company announced its 23rd patent and described SaverOne's advanced algorithms and its selective blocking mechanism to prevent the driver from accessing distracting phone functionalities while the vehicle is in motion.
SaverOne Signs Contract to Install its Systems on 300 Buses of Leading Israeli Transportation Company Bon Tour
On January 31st, the Company announced that it had secured a new customer, Bon Tour, with a significant order of 300 SaverOne Systems. In the coming month, 50 systems will be installed on Bon Tour's various buses and minibuses, and following that, a further 250 systems are expected to be installed.
SaverOne to Install its System Across Entire Strauss Group Fleet.
On January 22nd it was revealed that the 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 reduction in accident rates in the trucks that had the SaverOne system installed.
The distracted driving 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 $870B 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.
SVRE’s technology is game-changing, as it 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.
There is clear potential ahead for this quietly trading NASDAQ company and long-term growth looks optimistic!
We're talking about an answer to something that cost American society over $300Bn in 2019, which may probably be a low figure by today's standards!
The company also is cleaning up their balance sheet and has reported a significant reduction in the first half operating expenses of NIS 2.3 million ($612 thousand), reducing operating loss and cash burn.
SVRE has set out to solve a global problem and is continuing its mission to effectively demonstrate the full capabilities of its technology as it aims for global expansion. Now is a pivotal time to have the company on your radar!
"We think investors should think of the VRU subsidiary as a pre-seed, pre-MVP startup pitch. At this stage, it is an idea that has some validity because the RF-based sensor technology has been proven to work in SaverOne’s core product. If the company can deliver an MVP to partners and potential customers and we can see a working demo in 2025, we think it will be appropriate to assign some value to this operation. Alternatively, if the company can attract an outside investment into the VRU subsidiary, this would provide instant validation of the business and provide a solid foundation to measure the current and future value of this subsidiary."
- Zacks SCR
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