Save Foods (NASDAQ: SVFD) is an agrifood tech leader that entered the carbon-credit and greenhouse-gas emissions markets after it acquired a majority stake in Nitrousink Ltd., a research and development company that uses technologies developed at the Agricultural Research Organization — Volcani Institute. The Volcani Institute is run by Dr. Dror Minz, PhD. According to the announcement, Save Foods plans to fund up to $1.2 million over three years for R&D and commercialization efforts by Nitrousink. Most of those funds will be focused on the expansion and widespread implementation of an innovative technology discovered by Nitrousink. According to the announcement, Minz and the institute has identified and isolated two bacteria species from wheat roots have the ability to reduce N2O emissions under various environmental conditions. This technology has significant potential as the carbon credit market in 2022 was valued at $87.9 billion by Global Market Insight, and the U.S. government has budgeted $20 billion to invest in climate-smart agriculture targeting climate changes. “One of the bacteria is active under oxygen conditions and reduces emissions by 44%, while the other reduces emissions by 39% under oxygen-depleted conditions,” said the company in the press release. “The two bacteria species were grown in a lab and later successfully introduced to greenhouse wheat samples. The implications of these findings appear to be profound and offer a potential way to cut N2O emissions given that approximately 73% of manmade N2O emissions entering the atmosphere are a result of agricultural soil management.”
To view the full press release, visit https://ibn.fm/iFfp4
About Save Foods Inc.
Save Foods is an innovative agrifood 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 nitrous oxide emissions, a potent greenhouse gas with 265 times the global warming impact of carbon dioxide. Nitrousink aims to promote agricultural practices that are both environmentally friendly and economically viable. Plantify Foods, Save Foods’ minority-owned Canadian subsidiary, offers a wide range of clean-label healthy food options that are nutritious, gluten free and nonallergenic; that use whole natural ingredients; and that are easy to prepare. For more information about the company, visit www.SaveFoods.co.
NOTE TO INVESTORS: The latest news and updates relating to SVFD are available in the company’s newsroom at https://ibn.fm/SVFD
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