N2OFF: Save Foods Increasing its Potential Market Reach Following Pre-Harvest Regulatory Approval in California
25 March 2024 - 11:51PM
N2OFF, Inc. (NASDAQ: NITO) (FSE:80W) (“N2OFF” or the “Company”), a
pioneer agri-food tech company offering sustainable solutions for
agriculture and plant-based food, previously announced that the
California Department of Pesticide Regulation (CDPR) registered for
use Save Foods Ltd.’s pre-harvest treatment, FieldProtect, based on
its compliance with California laws and regulations pertaining to
pesticide registration.
The approval now extends the use of the product
in California from exclusively post-harvest processes to include
pre-harvest applications, which significantly broadens Save Foods'
potential market reach. We believe this marks an important step
forward for Save Foods in providing food safety and reducing waste
from field to fork, paving the way for its potential commercial
expansion in California.
The Company believes entry into the California
agricultural sector, which generates substantial revenue and leads
in organic production in the United States, places Save Foods in a
favorable position within the sustainable agriculture market.
FieldProtect is designed to meet the stringent environmental and
safety standards set by the CDPR, demonstrating the Company's
commitment to providing eco-friendly solutions that benefit
growers, consumers, and the environment.
According to the California Department of Food
and Agriculture, in 2022, California generated over $59 billion in
market value from its diverse range of products and in 2021,
agricultural exports increased 7% from 2020 to $22.5 billion, while
organic product sales reached $14.0 billion, marking a 16.4% rise
from the previous year. We believe that California’s commitment to
sustainable farming on over 2.13 million acres provides an ideal
backdrop for FieldProtect’s introduction.
Previous trial on strawberries, revealed
promising results whereby Save Foods’ research and development team
managed to dramatically extend the shelf life of strawberries. The
trial has shown an 85% reduction in waste of fresh strawberries
compared to the industry standard..
According to the California Department of Food
and Agriculture, in 2021, the California strawberry industry
highlighted its vibrant dynamism and critical economic role,
reinforcing the state's position as the premier strawberry producer
in the United States, accounting for approximately 90% of the
country's production. The sector reported a total annual farm value
of $1.99 billion, positioning strawberries among the top
agricultural commodities in California. This flourishing market
offers a remarkable opportunity for companies providing
cutting-edge solutions specifically designed for berry production.
Save Foods is now poised to offer its treatment to extend the shelf
life of berries and other premium produce, particularly
strawberries, which are a standout product in California's
agricultural portfolio.
David Palach company’s CEO said, “Our technology
and services aim to boost yield, enhance quality, and promote
sustainable production practices among California's strawberry
farmers. As the industry continues to expand, Save Foods remains
dedicated to delivering advanced solutions that contribute to the
growth and success of California's agriculture, solidifying our
sustainability role in supporting this vital sector”.
About N2OFF Inc.:
N2OFF Inc. (formerly known as 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., N2OFF's 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. NTWO OFF Ltd., N2OFF's 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. NTWO OFF Ltd., aims to promote agricultural
practices that are both environmentally friendly and economically
viable. N2OFF also owns minority position in Plantify Foods, Inc.,
a Canadian company listed on the TSXV that 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 N2OFF's and NTWO OFF Ltd. visit
our website: www.n2off.com
www.n2off.net
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Investor Relations
Contacts:
Michal
Efraty+972-(0)52-3044404michal@efraty.com
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