Neve Yarak, Israel, Dec. 21, 2023 (GLOBE NEWSWIRE) — Save Foods, Inc. (NASDAQ: SVFD) (FSE:80W), an agri-food tech leader, announced today that its majority-owned subsidiary, Nitrousink Ltd. (“Nitrousink”), a research and development company using technologies developed at the Volcani Institute, under the leadership of Dr. Dror Minz, commenced a controlled trial to examine its solution for the reduction of greenhouse gas emissions, with a specific focus on nitrous oxide (N2O), a potent greenhouse gas and contributor to ozone depletion.
Under the guidance of Dr. Dror Minz, PhD, a leading expert in Environmental Microbiology and the Director of the Institute of Soil, Water and Environmental Sciences at the Agricultural Research Organization – Volcani Institute, Nitrousink aims to penetrate the sustainable agriculture market with its innovative solution.
The controlled trial is taking place under greenhouse conditions and aims to investigate several options to optimize the effectiveness of Nitrousink’s solution in reducing the greenhouse gas N2O emissions during wheat growth.
Nitrousink will then evaluate the performance of its solution in microplot fields featuring various soil types, along with different dosages and formulations. Moreover, Nitrousink intends to discover and identify additional microorganisms with the capacity to decrease N2O emissions.
Dr. Dror Minz, leader of the trial, commented “Our mission at Nitrousink, in alignment with Save Foods’ vision, is about reducing greenhouse gas emissions and reshaping agriculture into a more sustainable, environmentally friendly practice. The trial marks a pivotal moment in our journey, bringing years of research to the forefront of real-world application.”
According to The International Market Analysis Research and Consulting Group (IMARC Group), the global wheat seed market size reached US$ 5.3 billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 7.6 billion by 2032, exhibiting a growth rate (CAGR) of 3.84% during 2024-2032.
Save Foods previously announced entering the carbon credit and greenhouse gas emissions markets following its acquisition of a majority stake (60%) in the newly formed Nitrousink.
About Save Foods:
Save Foods Inc. is an innovative agri-food tech company that through its three operational arms delivers integrated solutions for improved safety, quality, and sustainability every step of the way from field to fork. Save Foods Ltd., Save Foods’ majority-owned Israeli subsidiary, focuses on post-harvest treatments in fruit and vegetables to control and prevent pathogen contamination, significantly reduce the use of hazardous chemicals, and prolong fresh produce’s shelf life. Nitrousink, Ltd., Save Foods’ majority-owned Israeli subsidiary, contributes to tackling greenhouse gas emissions, offering a pioneering solution to mitigate N2O (nitrous oxide) emissions, a potent greenhouse gas with 265 times the global warming impact of carbon dioxide. Nitrousink Ltd., aims to promote agricultural practices that are both environmentally friendly and economically viable. Plantify Foods, Inc., Save Foods’ minority-owned Canadian subsidiary listed on the TSXV, offers a wide range of clean-label healthy food options that are nutritious, gluten free, non-allergenic, use whole natural ingredients, and are easy to prepare. For more information on Save Foods Ltd. and Nitrousink Ltd. visit our website: https://savefoods.co/
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. Because such statements deal with future events and are based on our current expectations, they are subject to various risks and uncertainties. including the possibility that the trial conducted by Nitrousink will not yield the results anticipated by Save Foods and contemplated in the press release, the possibility of securing additional business opportunities and pursuing new pilot programs and commercial sales opportunities. Actual results, performance or achievements 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 market conditions as well as those discussed under the heading “Risk Factors” in Save Foods’ registration statement on Form S-1 filed with the SEC on October 26, 2023, and in any subsequent filings with the SEC. Except as otherwise required by law, we undertake 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. We are not responsible for the contents of third-party websites.
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