SaverOne Advances Its Global Sales Strategy And Appoints European Distributor; Signed Agreement With GVZ Company To Market, Sell, Install And Provide Local Support For SaverOne's DDPS Products.

SaverOne 2014 Ltd ADR -4.55%

SaverOne 2014 Ltd ADR

SVRE

0.52

-4.55%

SaverOne makes strong sales and marketing advances in Europe; completes pilot project with Cemex in SpainSaverOne 2014 Ltd.

 (NASDAQ:SVRE) (TASE: SVRE), a technology company specializing in transportation safety solutions, today announced an advancement of its global growth strategy into European markets.

New Distribution Agreement 

SaverOne signed a distribution agreement with GVZ Company, based in Milan. GVZ specializes in the distribution of automotive components and solutions and has significant experience in offering products that comply with European and Italian automotive safety regulations, which led to the implementation of blind-spot monitoring systems in Italy. GVZ will market, sell, install and provide local support for SaverOne's DDPS products in the region.

In addition, to further supporting and expanding sales efforts in the region, SaverOne has appointed Mr. Tal Yihie as its Italian Country Partner. Based in Milan, Mr. Yihie is a seasoned business development executive with over 14 years of extensive sales, marketing, and distribution expertise in Italy, in addition to having an extensive global business network. Having been a key figure in several international companies, Mr. Yihie brings proven acumen in shaping market development and EU go-to-market strategies to SaverOne.

Successful Completion of Initial Stage of Cemex Spain Project 

In line with its 'land and expand' strategy, SaverOne announced the successful completion of its previously announced initial pilot with Cemex in Spain and expects to move to the next stage in the coming weeks.

Furthermore, SaverOne is in active discussions for new pilot projects in Italy, integrating SaverOne's DDPS solutions into a number of initial vehicles within corporate fleets, representing the 'land' part of SaverOne's strategy. The goal is to 'expand' sales to cover entire fleets at a later stage following the successful completion of pilot trials.

Commented Ori Gilboa, CEO of SaverOne, "Given our MOU with Iveco, a leading Italian based OEM, Italy was the natural choice for our first European country in which to appoint a distributor to strengthen our sales efforts. Our new strategic collaborations are a strong step forward for our expansion throughout Europe and advances our global expansion strategy and sales potential. This new collaboration also follows our recent strategic pilot project with Cemex in Spain, which has proceeded successfully. At the same time, we continue to advance our ongoing collaboration with Iveco, developing our OEM DDPS solution that will be integrated within Iveco's vehicle manufacturing process. We hope to sign a final commercial agreement in the coming months."

Continued Mr. Gilboa, "Finally, I believe that SaverOne's new distributor in Italy, GVZ, is a highly synergistic partnership, given the strong improvement in transportation safety that both our DDPS system and their blind-spot monitoring systems can together provide. In addition, I look forward to leveraging the experience of our new country partner, Tal Yihie, to educate that market, and bring in new customers as we aim to increase our revenues in the region."

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