Save Foods (NASDAQ: SVFD), a sustainable agrifood tech company specializing in food waste and pesticide reduction while also tackling greenhouse gas emissions, has formed a new subsidiary: Nitrousink Ltd. According to the announcement, through Nitrousink Save Foods is partnering with Ya’aran Investments Ltd. and the Agricultural Research Organization—Volcani Institute to fight climate change and support sustainable agriculture. The announcement noted that Save Foods has executed a stock exchange agreement with Ya’aran Investments and Nitrousink, making it a majority-owned subsidiary of the company. The agreement notes that Save Foods will fund Nitrousink’s research and development and commercialization efforts up to $1.2 million over a three-year period. The focus of the R&D is to expand and implement an innovative technology developed at the Agricultural Research Organization—Volcani Institute.
“By embracing this natural, ‘green’ solution, Nitrousink aims to play a pivotal role in revolutionizing the agricultural sector and transforming it into a powerful force for positive change,” said Save Foods CEO David Palach in the press release. “We firmly believe that supporting increased food production to nourish the growing world population can go hand in hand with minimizing the environmental impact. . . . We believe that Nitrousink will participate in chartering a new course for sustainable agriculture and environmental stewardship. We believe that our collaborative efforts present a unique and unprecedented opportunity to address climate change while bolstering food production to feed an ever-increasing global population.”
To view the full press release, visit https://ibn.fm/dKI77
About Save Foods Inc.
Save Foods is an innovative, dynamic company addressing two of the most significant challenges in the agrifood tech industry: food waste and loss and food safety. The company is dedicated to delivering integrated solutions for improved safety, freshness and quality, every step of the way from field to fork. Collaborating closely with its customers, Save Foods develops new solutions that benefit the entire supply chain and improve the safety and quality of life of both workers and consumers alike. SVFD’s initial applications are in postharvest treatments in fruit and vegetable packing houses that process produce such as citrus, avocado, pears, apples and mangos. By controlling and preventing pathogen contamination and significantly reducing the use of hazardous chemicals and their residues, Save Foods treatment not only prolongs fresh produce shelf life and reduces food loss and waste, but it also ensures a safe, natural and healthy product. 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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