SaverOne: External Analysis Projects Annual $1.5 Billion Market Potential by 2035 for its RF-ADAS Technology
Announces Spinoff Company Dedicated to Further Developing its VRU Sensor Solution Leveraging this Technology
Petah Tikvah, Israel, June 03, 2024 (GLOBE NEWSWIRE) — SaverOne 2014 Ltd. (Nasdaq:SVRE, TASE: SVRE), a technology company engaged in disruptive transportation safety solutions, is pleased to announce that 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. This strategic move follows the conclusion of a comprehensive project completed by a leading global consultancy firm, announced in March, which analyzed the addressable market potential, as well as the initial interest from OEMs.
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.