SaverOne 2014 Ltd. (Nasdaq: SVRE, TASE: SVRE) stock surged over 20% intraday following news 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 company 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.
The order follows another value-creating update, specifically entering 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.
Shares of SVRE are trading at $0.64 at the time of this writing.
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