N2OFF: Save Foods Granted Patent Approval in South Africa for its Proprietary Technology
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Insights
The grant of N2OFF's patent in South Africa is a strategic move for the company, aligning with the country's status as a major citrus exporter. The patent for 'Sterilization Compositions and Methods for Use Thereof' could potentially revolutionize the way South African citrus producers manage pathogen loads, which is critical for both extending shelf life and ensuring the safety of exported goods. This innovation could reduce spoilage and food waste, offering economic benefits by potentially decreasing the costs associated with losses and increasing the volume of marketable produce.
Furthermore, the adoption of such technology can enhance the reputation of South Africa's citrus exports regarding quality and safety standards, possibly creating a competitive advantage in the global market. However, the actual impact will depend on the technology's cost-effectiveness and the willingness of producers to adopt it. The long-term benefits also hinge on the scalability and adaptability of N2OFF's solutions to different agricultural contexts within South Africa.
From a market perspective, the announcement of a patent grant in a significant export market like South Africa could signal to investors N2OFF's potential for growth and market penetration. Given the size of the citrus industry in South Africa, the commercialization of N2OFF's technology could lead to substantial revenue streams if the solution is adopted widely. However, investors should consider the speed of market adoption and regulatory hurdles that may influence the rate at which the technology is implemented.
It's also important to note that the agri-food tech sector is highly competitive, with numerous companies seeking to provide sustainable solutions. N2OFF's ability to secure patents and protect its intellectual property is a positive sign, but the company's long-term success will depend on its competitive edge in terms of innovation, cost and demonstrable benefits to farmers and the broader supply chain.
The emphasis on sustainability is a key factor in the agri-food sector and N2OFF's patent aligns with global efforts to reduce food waste and improve food safety. The technology's potential to mitigate spoilage aligns with the United Nations Sustainable Development Goals, particularly Goal 12, which focuses on responsible consumption and production. By potentially reducing the amount of waste generated from spoilage, N2OFF's solutions could contribute to more sustainable agricultural practices in South Africa.
However, the broader implications for sustainability will depend on the technology's environmental footprint, including the resources required for its production and application. It will be essential to balance the benefits of reduced waste with any new environmental costs introduced by the use of N2OFF's sterilization compositions.
In 2022, South Africa exported
Neve Yarak, Israel, March 28, 2024 (GLOBE NEWSWIRE) -- N2OFF, Inc. (NASDAQ: NITO) (FSE:80W) (“N2OFF” or the “Company”), a pioneer agri-food tech company offering sustainable solutions for agriculture and plant-based food, announces that one of Save Foods Ltd.’s patents has been granted in South Africa. This achievement emphasizes the Company’s ongoing commitment to global food safety and sustainability while expanding its geographical distribution.
The newly granted patent, “Sterilization Compositions and Methods for Use Thereof”, refers to kits and methods for controlling pathogen load within or on the surface of edible plant matter.
According to The Observatory of Economic Complexity, in 2022 South Africa exported
David Palach, N2OFF’s CEO, said "This patent in South Africa marks another milestone in our mission to reduce food waste and ensure food safety worldwide. Our proprietary technology, now recognized in South Africa, strengthens the Company’s global impact and the universal need for sustainable food protection solutions."
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 owns minority position 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 N2OFF’s prospectus filed with the SEC on February 7, 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
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