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A spin-off is one of the options that is under consideration
Petah Tikvah, Israel, March 21, 2024 (GLOBE NEWSWIRE) -- SaverOne 2014 Ltd. (NASDAQ:SVRE, TASE: SVRE))))), a technology company that develops and sells transportation safety solutions, today announced that it has signed an agreement, partnering with a top-tier global consultancy firm, to support the development of a business model around SaverOne's Vulnerable Road User (VRU) solution.
The initiative focuses on assessing the potential of the VRU solution and building a full understanding of the solution's value proposition and market potential within the automotive industry. Deliverables include a comprehensive business plan including an analysis of the competitive landscape as well as a detailed approach for developing the VRU business either within SaverOne or via a spin-off. One of the goals of this strategic initiative is to enhance shareholder' value.
SaverOne's VRU solution has the potential to significantly enhance the performance of Advanced Driver Assistance System (ADAS) sensors (camera, lidar and radar) through its superior ability to deal with NLoS (non-line of sight) situations as well as adverse weather conditions and low-visibility. The solution detects VRUs such as pedestrians or cyclists in the vicinity of the vehicle, to avoid and prevent a collision. SaverOne's technology identifies the exact location and direction of movement of the VRU via their RF footprint from their cellphone signal.
Ori Gilboa, CEO of SaverOne, stated, "Leveraging our technology, our VRU sensor brings new and unique safety capabilities to the large and significant ADAS market. We believe this important initiative will enable us to further develop the business around our VRU sensor, enabling us to take well- considered strategic steps. We are committed to developing a robust business for our VRU protection solution and would like to cooperate with strategic partners and investors to implement it."
Posted In: SVRE
