SaverOne Expands its Collaboration with IVECO with its Vulnerable Road User Solution

Receives New Purchase Order from IVECO to Develop, Install and Demonstrate its Proof-of-Concept Solution for Vulnerable Road User Detection

Petah Tikvah, Israel, May 09, 2024 (GLOBE NEWSWIRE) -- SaverOne 2014 Ltd. (Nasdaq: SVRE, TASE: SVRE), a technology company engaged in disruptive transportation safety solutions, today announced that it has received a purchase order for a vulnerable road user (VRU) proof-of-concept (POC) from IVECO, the brand of Iveco Group N.V. (EXM: IVG), that designs, manufactures and markets light, medium and heavy commercial vehicles. The POC will present SaverOne’s radio frequency (RF)-based solution that could be integrated in the vehicle Advanced Driver-Assistance System (ADAS) logics to enhance vehicle safety.

This follows the entry in March 2024 of an OEM collaboration agreement between SaverOne and IVECO to integrate SaverOne’s in-cabin safety technology within IVECO’s vehicles. SaverOne and IVECO will collaborate to define and develop the POC VRU solution for IVECO. This solution is expected to be installed in one of IVECO’s vehicles in Europe later this year after which it will be demonstrated to various stakeholders within IVECO.

Ori Gilboa, CEO of SaverOne, stated, “We are very happy to expand our partnership with IVECO, a leader in the truck vehicle industry, to further develop our innovative VRU technology. The new purchase order from IVECO marks another element in our mutual goal of enhancing road safety and protecting all road users. We believe that our demonstration will serve as the basis for the co-development activity between IVECO and SaverOne, towards bringing to market an RF-ADAS sensor. Our solution aims to detect vulnerable road users, such as pedestrians and cyclists, based on their RF footprint, even in non-line-of-sight scenarios. We are now working with IVECO closely to provide detection both outside as well as inside the vehicle with our solution to protect against driver distraction. SaverOne strongly believes in the VRU solution. This new PO follows our announcement in March that we are working with a top-tier global consultancy firm to create the go-to-market business plan and model to grow and develop the VRU business.”