N2OFF INC. to Pursue Food Waste Carbon Credit Verra VM00046 Methodology

Rhea-AI Summary

N2OFF Inc. (NASDAQ: NITO) announced plans to pursue food waste carbon credits using its subsidiary Save Foods 's patented treatment for extending fruit and vegetable shelf life. The company aims to monetize emission reductions by keeping food in the human supply chain, potentially qualifying for the Verra VM00046 methodology.

Save Foods engaged sustainability experts from Nibbana-Group to explore alternative revenue streams. The experts concluded that Save Foods may meet the conditions for food waste carbon credits. This methodology applies to projects reducing food loss and waste (FLW) at various stages of the food chain.

CEO David Palach stated that this approach could help farmers, packaging houses, and retailers reduce costs while potentially increasing revenues through carbon credits. N2OFF also plans to implement an inset strategy to monetize its technology for reducing N2O greenhouse gas emissions.

Positive

• Potential new revenue stream through food waste carbon credits
• Subsidiary's treatment extends shelf life of fruits and vegetables
• Possible qualification for Verra VM00046 methodology
• Exploration of inset strategy to monetize N2O emission reduction technology

Negative

• None.

Environmental Sustainability Expert

N2OFF's pursuit of the Verra VM00046 methodology marks a significant step towards sustainable food management. By extending the shelf life of fruits and vegetables, their subsidiary Save Foods is directly addressing the global issue of food waste. This approach not only reduces greenhouse gas emissions associated with decomposing food waste but also conserves resources used in food production.

The potential for carbon credits adds a financial incentive to their environmental efforts, which could accelerate adoption of their technology. However, the success of this initiative depends on rigorous verification processes and consistent results. It's important to monitor the actual impact on food waste reduction and ensure compliance with Verra's stringent standards.

If successful, this could create a ripple effect in the industry, encouraging more companies to invest in food preservation technologies. The dual benefit of waste reduction and potential carbon credit revenue could transform how the food industry approaches sustainability.

Agricultural Technology Analyst

Save Foods' patented treatment represents a technological breakthrough in the agri-tech sector. By extending shelf life, it addresses a critical pain point in the food supply chain. The technology's potential to reduce both pre and post-harvest waste is particularly noteworthy, as it tackles inefficiencies at multiple stages.

The pursuit of Verra VM00046 methodology could validate the efficacy of Save Foods' treatment on a global scale. This recognition could lead to increased market adoption, especially among environmentally conscious retailers and consumers. However, the success hinges on the treatment's scalability and cost-effectiveness across various produce types and supply chain conditions.

Investors should watch for data on implementation costs, success rates in different climates and any regulatory hurdles. The technology's ability to adapt to diverse agricultural settings will be important for long-term growth and international expansion.

Financial Analyst

N2OFF's strategy to monetize their food preservation technology through carbon credits presents an innovative revenue stream. This approach could significantly enhance the company's financial profile, potentially leading to a diversified income model that combines direct sales with carbon credit revenues.

The market for carbon credits is growing, with increasing corporate commitments to sustainability. If N2OFF successfully qualifies for these credits, it could see a substantial boost in profitability. However, investors should be cautious as the carbon credit market can be volatile and regulatory changes could impact valuations.

Key financial metrics to monitor include the cost of implementing the technology versus the potential carbon credit revenue, as well as any impact on the company's operating margins. The success of this initiative could potentially lead to a re-rating of the stock, especially if it demonstrates a scalable model for combining agri-tech solutions with environmental finance.

Subsidiary’s treatment aims to help reduce pre & post-harvest food waste by extending shelf life of fruits and vegetables, and to potentially provide an alternative revenue stream by issuing carbon credits

Neve Yarak, Israel, Aug. 20, 2024 (GLOBE NEWSWIRE) -- N2OFF, Inc. (NASDAQ: NITO) (FSE:80W) (“N2OFF” and the “Company”), a clean tech company engaged in sustainable solutions for energy and innovation for agri-tech, announced its plan to utilize its subsidiary, Save Foods Ltd.’s (“Save Foods”), patented treatment to extend shelf life of certain fruits and vegetables to pursue monetizing the quantification of emission reductions by keeping food in the human supply chain. If successful, the Company could receive designated food waste credit.

Save Foods engaged a team of sustainability strategy experts from the Nibbana-Group, led by Galit Kenigsberg, to examine potential avenues to provide alternative revenue streams from Save Food’s patented treatment. They concluded that Save Foods may meet the conditions of the Verra VM00046 methodology and could potentially be eligible to receive certain benefits such as food waste carbon credits.

This methodology applies to project activities that reduce food loss and waste (FLW) by increasing food available for human consumption and keeping food in the human supply chain. Eligible project activities may prevent FLW at different stages of the food chain, including at farms, food processing facilities, retailers, food services/hospitalities, and households. The methodology enables organizations to become eligible for carbon credits by reducing food waste.

David Palach, N2OFF’s CEO, commented, “This methodology provides us with an opportunity not only to continue helping farmers, packaging houses, and retailers reduce costs by extending shelf life, but also to potentially increase revenues by qualifying for credits through the use of Save Foods products. We are exploring the Verra VM00046 methodology, which we believe could align with our strategy. We also plan to implement an inset strategy to monetize our proprietary technology for reducing N₂O greenhouse gas emissions.”

About N2OFF Inc:

N2OFF, Inc. (formerly known as Save Foods, Inc.) is a clean tech company engaged in sustainable solutions for energy and innovation for agri- tech. Through its operational activities it delivers integrated solutions for sustainable energy, greenhouse gas emissions reduction and safety, quality solutions for the agri- tech market. NTWO OFF Ltd., N2OFF's majority-owned Israeli subsidiary, aims to contribute in tackling greenhouse gas emissions, offering a solution to mitigate nitrous oxide (N₂O) emissions, a potent greenhouse gas with 310 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 recently entered the solar PV market and will provide funding to Solterra Renewable Energy Ltd. for the current project in the total Capacity of 111 MWp, as well as future projects. Save Foods Ltd., N2OFF's majority-owned Israeli subsidiary, focuses on post-harvest treatments in fruit and vegetables to control and prevent pathogen contamination. 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. 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 including our ability to generate revenue from the VM0046 methodology. 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 N2OFF’s Annual Report on Form 10-K filed with the SEC on April 1, 2024 and Quarterly Report on Form 10-Q filed with the SEC on August 14, 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
michal@efraty.com

FAQ

What is N2OFF Inc.'s plan for food waste carbon credits?

N2OFF Inc. (NITO) plans to pursue food waste carbon credits using its subsidiary Save Foods 's patented treatment that extends the shelf life of fruits and vegetables. They aim to monetize emission reductions by keeping food in the human supply chain, potentially qualifying for the Verra VM00046 methodology.

How might N2OFF Inc. (NITO) benefit from the Verra VM00046 methodology?

If successful in meeting the conditions of the Verra VM00046 methodology, N2OFF Inc. could potentially receive food waste carbon credits. This could provide an alternative revenue stream while helping reduce food waste at various stages of the food chain.

What additional strategy is N2OFF Inc. (NITO) planning to implement?

N2OFF Inc. plans to implement an inset strategy to monetize its proprietary technology for reducing N2O greenhouse gas emissions, potentially creating another avenue for revenue and environmental impact.

How does Save Foods 's treatment contribute to reducing food waste?

Save Foods 's patented treatment extends the shelf life of certain fruits and vegetables, which helps reduce pre and post-harvest food waste by keeping food in the human supply chain for longer periods.