Eye-Net and SaverOne will promote the
partnership worldwide through an integrated accident prevention
solution
Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX), an
innovator in automotive vision systems, announced today that its
wholly owned subsidiary, Eye-Net Mobile Ltd., has signed a
commercial cooperation agreement with SaverOne 2014 Ltd. (TASE:
SAVR), a leader in providing an effective solution for cell phone
distracted driving.
Subject to certain tests and criteria to be determined by the
parties, Eye-Net will integrate its Eye-Net™ Protect solution in
SaverOne’s product designed to prevent the use of texting
applications by the driver while the vehicle is in motion.
Cell phone distracted driving is a leading cause of road
accidents. According to research by the National Safety Council,
1.6 million car accidents in the United States are caused every
year by texting while driving and 25% of all car crashes in the
United States involve the use of a cell phone.
According to the agreement, the Eye-Net Protect solution will be
integrated in the SaverOne solution in order to offer an additional
protection layer and enhance its ability to prevent accidents by
alerting drivers about potential collisions. Eye-Net’s integration
in the SaverOne solution presents shared revenue stream potential
that could be derived from offering optional features for an annual
license fee.
The agreement also contemplates that SaverOne will introduce
Eye-Net to certain companies with which it has business
relationships, in consideration for 10% of the revenues received by
Eye-Net under a commercial transaction with a third party
introduced by SaverOne. In turn, Eye-Net will introduce SaverOne to
Japanese vehicle manufacturers and business entities with which
Eye-Net has business relationships.
“We are pleased to announce our joint venture with Eye-Net,
SaverOne’s first partnership with a technology company, whose
activities are also based on saving lives and reducing road
accidents. The joint venture with Eye-Net will allow SaverOne to
offer its customers a comprehensive safety suite that includes
additional safety-related and accident prevention services,” said
Ori Gilboa, CEO of SaverOne.
“Eye-Net is expanding its presence in the automotive world with
this new commercial partnership with SaverOne, offering the
integrated solution to various vehicle fleets. The synergy between
the two companies and their products enhances driver protection, on
top of existing Advanced Driver Assistance Systems (ADAS),
potentially reducing the rate of road accidents and saving lives,”
said Dror Elbaz, COO & Deputy CEO of Eye-Net Mobile.
“Furthermore, I believe this Israeli collaboration will establish a
new standard in tackling the number one distraction for drivers by
reducing the use of mobile phones while driving.”
Eye-Net™ Protect is an intuitive and easy-to-use mobile
application that provides real-time pre-collision alerts to drivers
and vulnerable road users. The Eye-Net™ solution suite enhances
road safety and situational awareness for all road users in the
urban mobility environment by incorporating cutting-edge AI
technology and advanced analytics.
For more information about Eye-Net Mobile, please visit
www.eyenet-mobile.com, or follow the Company’s LinkedIn page,
Eye-Net Mobile; Twitter, @EyeNetMobile1; and Instagram channel,
Eyenetmobile1, the contents of which are not incorporated into this
press release.
About SaverOne
SaverOne Ltd. (TASE: SAVR) is a technology company that offers a
driver distraction prevention system, limiting the use of any
mobile phone in the driver’s vicinity.
SaverOne’s patented breakthrough solution creates a safer
driving environment by preventing access to distracting
applications while enabling access to other applications, as
defined by each organization’s safety policy. Such policy is being
enforced seamlessly on any mobile phone in the driver’s vicinity,
without the need for the driver’s cooperation, while leaving other
mobiles phones in the vehicle unaffected.
For more information about SaverOne, visit www.saver.one, or
join SaverOne on LinkedIn.
About Foresight
Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) is a
technology company developing smart multi-spectral vision software
solutions and cellular-based applications. Through the company’s
wholly owned subsidiaries, Foresight Automotive Ltd. and Eye-Net
Mobile Ltd., Foresight develops both “in-line-of-sight” vision
systems and “beyond-line-of-sight” accident-prevention
solutions.
Foresight’s vision solutions include modules of automatic
calibration, sensor fusion and dense 3D point cloud that can be
applied to different markets such as automotive, defense,
autonomous vehicles and heavy industrial equipment. Eye-Net
Mobile’s cellular-based solution suite provides real-time
pre-collision alerts to enhance road safety and situational
awareness for all road users in the urban mobility environment by
incorporating cutting-edge AI technology and advanced
analytics.
For more information about Foresight and its wholly owned
subsidiary, Foresight Automotive, visit www.foresightauto.com, follow @ForesightAuto1 on
Twitter, or join Foresight Automotive on LinkedIn.
Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995 and other Federal
securities laws. Words such as "expects," "anticipates," "intends,"
"plans," "believes," "seeks," "estimates" and similar expressions
or variations of such words are intended to identify
forward-looking statements. For example, Foresight is using
forward-looking statements in this press release when it discusses
its agreement and collaboration with SaverOne, the integration of
Eye-Net™ Protect solution in the SaverOne solution, and
introductions to be made my SaverOne between Eye-Net and other
companies. Because such statements deal with future events and are
based on Foresight’s current expectations, they are subject to
various risks and uncertainties, and actual results, performance or
achievements of Foresight could differ materially from those
described in or implied by the statements in this press
release.
The forward-looking statements contained or implied in this
press release are subject to other risks and uncertainties,
including those discussed under the heading "Risk Factors" in
Foresight's annual report on Form 20-F filed with the Securities
and Exchange Commission ("SEC") on March 31, 2020, and in any
subsequent filings with the SEC. Except as otherwise required by
law, Foresight undertakes no obligation to publicly release any
revisions to these forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events. References and links to websites have been
provided as a convenience, and the information contained on such
websites is not incorporated by reference into this press release.
Foresight is not responsible for the contents of third party
websites.
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version on businesswire.com: https://www.businesswire.com/news/home/20210317005474/en/
Investor Relations Contact: Miri Segal-Scharia CEO MS-IR
LLC msegal@ms-ir.com 917-607-8654
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