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.

Read more at globenewswire.com

NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.