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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.
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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.