SEEDO CORP SUBSIDIARY AWARDED GRANT FROM ISRAELI INNOVATION AUTHORITY
Seedo Corp subsidiary, Saffron Tech, has secured a $1 million grant from the Israeli Innovation Authority to expand its R&D in vertical farming technology for saffron cultivation. This funding will enhance the company's facilities, enabling increased saffron production to meet market demand and revolutionize the $1 billion saffron market. Following successful harvests in its indoor lab, Seedo aims to triple saffron output by achieving a third cultivation cycle, showcasing its commitment to innovative agriculture solutions.
- Awarded $1 million grant from Israeli Innovation Authority.
- Funding will accelerate R&D efforts and expand production facilities.
- Successful harvests with plans to triple saffron output using vertical farming technology.
- None.
Seedo Corp. subsidiary, Saffron Tech, has been awarded a
Tel Aviv, Israel, Aug. 10, 2021 (GLOBE NEWSWIRE) -- Seedo Corp. (OTC: SEDO) subsidiary has been awarded a
“We are very proud to receive this funding from the Israeli Innovation Authority,” says David Freidenberg, CEO, Seedo Corp. “In this new era of agriculture that incorporates innovative technology to the cultivation process, it makes sense that the Israeli Innovation Authority would support Seedo’s forward-thinking endeavor. Saffron is just the start and this generous grant will help us advance further in our business plans. The Israeli Innovation Authority reviews thousands of new and innovative science companies in determining which ones not only have disruptive science, but also the stability and practicality to function in the open market environment, so this is truly a badge of honor.”
Seedo Corp. and its subsidiary recently invested in state-of-the-art equipment featuring the latest software designed to create the precise growing conditions to deliver superior quality saffron suited for a variety of applications. The company has already successfully harvested two cycles of saffron in its indoor growing lab. Traditional agriculture only produces saffron once annually. The company is now designing the growing conditions which it believes will enable it to produce a third cycle, tripling the amount of saffron available to the marketplace.
About Seedo:
Seedo Corp. (OTC: SEDO) is an agtech company that focuses on the research, development, and commercialization of agriculture products that are high in demand but are hindered by the low yields and specifications required by traditional farming. Seedo's technology is aimed at offering a responsible and sustainable way to grow crops in a world confronted by environmental challenges and dwindling earth reserves, diminishing water sources and unstable weather conditions.
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Contact:
David Freidenberg,
Chief Executive Officer
info@saffron.ag
+1 (800) 608-6432
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