SAVERONE 2014 LTD Stock Price, News & Analysis

SaverOne 2014 Ltd. (Nasdaq: SVRE) announced an agreement with Shaltal Logistic and Transportation Ltd. to install its vehicle safety system across Shaltal's fleet of 150 trucks in Israel. This decision follows a successful pilot program involving 25 trucks, which demonstrated significant improvements in driver behavior by reducing mobile phone distractions.

The expanded implementation aims to enhance vehicle transportation safety and operational efficiency. SaverOne's technology is designed to prevent accidents caused by driver distractions, and the company aims to solidify its position in the transportation sector to attract further partnerships. Currently, Shaltal's primary operations involve transporting vehicles from the ports of Eilat and Ashdod.

SaverOne 2014 Ltd. (Nasdaq: SVRE) reported a significant 165% growth in revenue, reaching NIS 1.2 million (approximately $339 thousand) for the year ended December 31, 2022. The company noted a net loss of NIS 25 million (~$7.1 million) with cash reserves of NIS 29.3 million (~$8.3 million). Key achievements included winning its largest order, covering 1,200 buses for Electra Afikim, and penetrating various industries, such as logistics and construction. The launch of its Second Generation technology marks a strategic shift towards international market expansion. Management expresses optimism for accelerated growth in 2023.

EzFill has launched a pilot program with SaverOne to install distraction-reducing technology in its fuel delivery trucks. This initiative aims to decrease driver distractions caused by mobile phones, ultimately enhancing safety and reducing accident risks. The trial, which marks SaverOne's first in the U.S., involves equipping select trucks with systems that limit app access while allowing passengers to use their devices. EzFill's CEO expressed enthusiasm about this partnership and its potential to improve operational safety. SaverOne also envisions expanding its technology usage within EzFill's fleet, contributing to both companies' growth strategies.

SaverOne 2014 Ltd. (Nasdaq: SVRE) has announced an expansion of its successful pilot program with logistics leader Moviley Dror, which will now cover its entire fleet of 150 delivery trucks in Israel. The initial installation of SaverOne's driver distraction prevention technology will begin with 50 trucks, with completion expected in the coming weeks. This agreement highlights SaverOne's land-and-expand strategy, paving the way for potential future collaborations with Moviley Dror's international partners. The technology aims to enhance driver safety and reduce road accidents, aligning with increasing global emphasis on vehicular safety.

SaverOne 2014 Ltd. (Nasdaq: SVRE) announced its membership in the EU Regulatory Committee on Driver Distraction on March 20, 2023. This committee sets regulations for vehicle manufacturers to detect driver distractions, aiming to enhance road safety. The integration of distraction mitigation technologies will be mandatory for new EU vehicles by July 2026. SaverOne's technology aims to prevent mobile phone disruptions while driving, reducing accidents. CEO Ori Gilboa emphasized that participation in this committee enables SaverOne to influence regulations and potentially increase demand for its safety solutions.