SVRE - (NASDAQ: SVRE) May be the Hottest Tech Company to watch for 2024
Traders Take a Look at (NASDAQ:SVRE)
Discovering pioneer companies that are set to transform the future economy and/or society is what may lead to big gains in today’s market. Imagine knowing what you know about Apple today but decades ago!
Today’s alert is for a company with game-changing technology that could save many lives. It’s more than just technology. It’s a lifesaver.
Hurry and add SaverOne 2014 Ltd (NASDAQ: SVRE) to your radar!
Who is SVRE?
Founded in 2014 with a mission to make roads safer for drivers, passengers, and pedestrians alike, SaverOne develops cellular network-based technological solutions for reducing road accidents.
The company’s innovative system for identifying and limiting the use of certain apps on mobile devices while operating a vehicle has already been widely adopted by dozens of companies in Israel.
What could get the company quickly noticed on Wall Street?
SVRE has a solution to the $870 billion accident problem in the U.S.
It’s called the Distracted Driving Protection System (DDPS) and it's installed in vehicles to provide a solution to the problem of driver distraction that endangers their safety and the safety of their passengers.
What does DDPS do?
It ensures that drivers remain focused on driving safely and undistracted, mitigating a significant risk.
SVRE’s solution is an app that, upon installation, detects the driver's cell phone radio frequency (RF) signal and promptly disables non-emergency functions.
This technology, known as the SaverOne system , distinguishes itself by accurately identifying the phone's proximity to the driver's seat, blocking access to distracting apps and social media channels when used alongside the SaverOne App. Its censor is selective.
According to Soulstring Media, the technology may have been able to help save some of the approximately 3,500 lives lost from the over 1.6 million accidents caused by distracted driving in 2021…. Those being the most recent statistics available.
SVRE’s goal isn't to limit mobile communications altogether but rather to curb texting and viewing content while driving, particularly focused on mitigating general messaging and posting to social media channels.
As noted, that's accomplished by the DDPS system automatically engaging when a phone (with the app installed) is near the driver's seat. It can do that without affecting passenger phones by using sensors and AI algorithms to identify and detect the position of a mobile phone inside a vehicle.
The Opportunity…
SVRE’s system is not a one-size-fits-all solution. For example, a corporate fleet manager could elect to "safelist" specific apps necessary for job performance. For private vehicles, the list of allowed apps can be modified by a third party, such as a parent or an insurance company that might offer incentives for compliance. That differentiation from many competing products is leading to increasing market traction, evidenced by growing revenues, likely from the SaverOne system having the intrinsic ability to satisfy multiple client demands!
- Diversity of customer base. Customers include commercial fleets, privates, governmental organizations, as well as a diversity of automobile types (trucks, buses, private cars, etc.)
- Already recognized and growing. 30+ pilots across Israel, 1600+ devices ordered, 40+ active customers, 1,100+ device installations.
- Deals are lining up. A memorandum of understanding with IVECO, a leading medium/heavy truck manufacturer, to integrate its solution into some of the roughly 150,000 IVECO trucks produced yearly. Initial integration is slated to begin before the year's end, with a comprehensive rollout planned for 2024. SaverOne also announced securing a substantial order from Electra Afikim, an Israeli-based public transportation company, to install the SaverOne System in approximately 1,200 buses. These developments, coupled with pilot projects in the Gulf region, the U.S., and Europe, have and are expected to continue contributing to an already steepening growth curve.
- Expansion. A deal earlier this year facilitated SaverOne's introduction to international markets, where it earned an order for 4,300 systems, with approximately 3,000 of those units already installed.
- A revenue maker. With an estimated retail price between $300 and $500 and professional installation far from cost-prohibitive, the company looks well-positioned to add to its string of early adoption in multiple market segments.
In Summary…
Despite advancements in hands-free technology, the persistent issue of smartphone use while driving necessitates solutions. In almost every U.S. state, using your cell phone while driving is not only dangerous but also illegal. This unfortunately does not stop many people from doing it.
YOY revenues are increasing, the company has plenty of cash on hand ($5M as of June 30th, 2023) and a winning solution to a growing problem could put SVRE on the map!
Trading at only pennies, SVRE could be one of the biggest underfollowed opportunities hiding on Wall Street!
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