Alcohol detection technology company for fleets SOBRsafe lists to Nasdaq

Commercial fleets suffer from 11,000 alcohol-related accidents each year

SOBR Safe, Inc. (Nasdaq: SOBR) (SOBRsafe™ or the Company), providers of innovative solutions for alcohol policy management, announced that its common stock, which was previously traded on the OTC, has been uplisted to the Nasdaq Capital Market® (“Nasdaq”). The stock is available beginning today and will trade under the same ticker symbol “SOBR”. The Company will use the net proceeds from the Offering totaling $10 million in growth capital primarily to increase sales and marketing activities and expand product development and R&D.

SOBRsafe is creating a culture of prevention, and a safe and healthy work environment through the first-ever touch-based technology solution to prevent alcohol-related incidents. The company’s initial product, SOBRcheck™, launched late last year, is a preventative, non-invasive identity authentication and alcohol detection system fit for a range of workplaces, including fleets, warehouses, manufacturing and construction, with additional 2022 applications for youth drivers and alcohol rehabilitation. The IoT-enabled, portable alcohol detection solution requires the simple touch of two fingers and features instantaneous remote reporting and data analytics. For the first time, employers now have a streamlined, modern solution to take a proactive and data-driven approach to preventing alcohol related accidents. 

“Our innovative solutions pair with existing workplace alcohol policies, with a mission to provide a safer working environment and community for everyone,” said David Gandini, Chairman & CEO of SOBRsafe. “Not only does our technology aim to save lives and encourage healthy living practices, but it can drive material insurance discounts for employers, ultimately, saving money for other employee programs, like health, benefits and retention.”

Nearly half of all industrial accidents (47%) involve alcohol, leading to 300% higher health care costs as incurred by employers and insurers. In addition, each year, alcohol-related injuries, fatalities and lost productivity cost American employers and insurance $63 billion. SOBRsafe’s advanced technology can help to save lives by empowering safer workplaces and roadways, and also allows employers to more effectively manage existing company substance policies, protect against catastrophic liabilities due to alcohol use and reduce insurance premiums. The company also takes a privacy-first approach, using de-identified biometric imaging storage only, rather than fingerprints. 

SOBRsafe is now in commercial application, with hundreds of subscribers signed and is in revenue – with insurance discounts secured for all launch clients.

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