The approval was granted by the California Department of Pesticide Regulation (CDPR)
Neve Yarak, Israel, March 13, 2024 (GLOBE NEWSWIRE) -- Save Foods, Inc. (NASDAQ: SVFD) (FSE:80W) (“Save Foods” or the “Company”), a pioneer Agri-Food Tech company offering sustainable solutions for agriculture and plant-based food, announced today that the California Department of Pesticide Regulation (CDPR) has approved and registered the use of Save Foods Ltd.’s pre-harvest treatment, FieldProtect, based on compliance with provisions of California laws and regulations pertaining to pesticide registration.
This approval marks a significant step forward for the Company in providing food safety and reducing waste from field to fork, paving the way for its potential commercial expansion in the State of 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 Ltd. 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, California is a leading agricultural powerhouse which in 2022, generated over $59 billion in market value from its diverse range of products and which provides an ideal backdrop for FieldProtect's introduction.
According to the California Department of Food and Agriculture, in 2021, agricultural exports surged to $22.5 billion, a 7% increase from 2020, while organic product sales reached $14.0 billion, marking a 16.4% rise from the previous year and underscoring California’s commitment to sustainable farming on over 2.13 million acres.
Dan Sztybel, CEO of Save Foods Ltd., expressed enthusiasm about the approval, stating, "This approval by the CDPR is a testament to the safety of FieldProtect. We are eager to introduce our technology to California's agriculture, and start addressing ‘near harvest’ treatment very relevant to market like berries”.
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. NTWO OFF 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. NTWO OFF 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 NTWO OFF 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, 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.
Investor Relations Contacts:
Michal Efraty
+972-(0)52-3044404
michal@efraty.com
