The inset monetizing strategy involves collaborating with established companies with Environmental, Social, and Governance (ESG) initiatives
Neve Yarak, Israel, April 11, 2024 (GLOBE NEWSWIRE) -- N2OFF, Inc. (NASDAQ: NITO) (FSE:80W) and its subsidiary NTWO OFF LTD (together “N2OFF” or the “Company”), a pioneer agri-food tech company offering sustainable solutions for agriculture and plant-based food, announced it intends to pursue and implement an inset strategy aimed at capturing market opportunities with established companies which seek to reduce N2O greenhouse gas emissions.
The inset strategy involves collaborating with established companies with Environmental, Social, and Governance (ESG) initiatives. The Company intends to offer its future product particularly to companies that are focusing on reducing greenhouse emissions in agriculture. According to Dr. Dror Minz from the ARO Vulcani Institute to the best of his knowledge, there are no other known dedicated technologies for the reduction of N2O greenhouse emission for agriculture.
N2OFF is working on developing natural, environmentally friendly and safe plant root bacterial strains which are non-GMO to be planted in the soil in hopes of reducing N2O emissions. N2OFF’s pilot program has demonstrated a 40% reduction in N2O emissions using this method. Given the success of its pilot, N2OFF seeks to become a key ESG partner within the agricultural value chain, supporting businesses across the agricultural sector in achieving their sustainability goals.
“While N2OFF’s technology is still in development, the Company is hopeful about its potential, said David Palach, Chief Executive Officer of N2OFF, Inc. “We are excited to initiate an inset strategy, enabling us to approach the market and contribute to emission reduction efforts in agriculture. By partnering with companies committed to sustainability, we believe we have the potential to play a role in reducing N2O emissions.”
We believe that companies with established relationships with farmers stand to benefit from N2OFF’s technology, which can reduce N2O greenhouse gas emissions associated with agricultural activities.
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 nitrous oxide (N2O) 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 has a minority ownership 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 Save Foods Ltd. and NTWO OFF Ltd. visit our website: www.n2off.com.
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' Annual Report on Form 10-K filed with the SEC on April 1, 2024 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
