SaverOne 2014 Ltd. reports developments in RF-based transportation safety technology for OEM and aftermarket vehicle applications. The company designs, develops, and commercializes systems that detect, locate, and analyze cellular phone RF signals, including its Driver Distraction Prevention System and sensor technology for detecting vulnerable road users through cellphone footprints.
Recurring news themes include patent grants covering mobile communication detection and classification, collaborations involving driver monitoring and in-cabin safety, fleet installation activity, material agreements, shareholder voting matters, ADS capital-structure actions, governance updates, and operating or financial results.
SaverOne 2014, a company specializing in transportation safety solutions, announced a significant follow-on order for 50 SaverOne Systems from the Israeli subsidiary of a major global food manufacturer. This order follows successful trials and a prior order in November 2022 involving 80 employee vehicles, which saw a notable reduction in accidents. Feedback has been very positive, highlighting the system's effectiveness. CEO Ori Gilboa emphasized that this order underscores the product's success and represents substantial growth potential for SaverOne, as they aim to expand sales within the customer's global organization and other multinational clients.
SaverOne announced the formation of a new company to advance its Vulnerable Road User (VRU) sensor solution leveraging the RF Advanced Driver Assistance System (ADAS) technology. This decision follows a comprehensive analysis by a leading consultancy firm, projecting an annual market potential of $1.5 billion by 2035. The RF-ADAS technology enhances vehicle safety by detecting pedestrians and cyclists in non-line-of-sight scenarios. SaverOne has also secured a paid proof-of-concept order from European OEM IVECO. The company is actively seeking investors and strategic partners to support the new subsidiary's development and commercialization.
SaverOne received a notice from Nasdaq on May 17, 2024, about not meeting the minimum bid price requirement of $1.00 per share for its American Depositary Shares. This non-compliance is based on the share price for the last 31 consecutive business days. The company has 180 days, until November 13, 2024, to regain compliance by maintaining a closing bid price of at least $1.00 per share for 10 consecutive business days. If unsuccessful, SaverOne may receive an additional 180-day extension to comply, possibly through a reverse stock split. The company is actively monitoring the situation and prioritizes its continued listing on Nasdaq.
SaverOne 2014, a technology firm specializing in transportation safety, has been granted a new patent by the European Patent Office. This patent, numbered EP3158718, is titled 'System and Methods to Facilitate Safe Driving'.
The patent leverages machine learning and channel fingerprinting to selectively restrict driver phone functions without affecting other mobile devices in the vehicle, enhancing road safety. With this patent, SaverOne now holds a portfolio of 23 patents (11 granted and 12 pending) in major markets including the US, China, Israel, UK, and the EU. This development aligns with SaverOne's strategy for global expansion and reinforces its leadership in transportation safety innovation.
SaverOne 2014 expands collaboration with IVECO by receiving a new purchase order to develop a proof-of-concept solution for vulnerable road user detection. The solution will be integrated into IVECO's vehicles to enhance safety. The partnership aims to improve road safety and protect all road users by detecting vulnerable road users like pedestrians and cyclists using radio frequency (RF) technology.
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