Leading Turkish Exporter, Kalyoncu, Becomes a Commercial Customer of Save Foods Following Successful Pilot

Rhea-AI Summary

Save Foods (NASDAQ: SVFD) announced that Kalyoncu has become a commercial customer, purchasing over $1 million worth of products for the 2022-23 citrus season. Kalyoncu, a top exporter in Turkey, had previously reported successful pesticide residue reduction using Save Foods' eco-friendly treatment. The partnership aims to help Turkish growers comply with stricter EU regulations on pesticide use while reducing food waste. Kalyoncu achieved a 50% reduction in pesticide usage through Save Foods' treatment, which also cut costs and prolonged shelf life.

Positive

• Kalyoncu to purchase over $1 million worth of products for the 2022-23 citrus season.
• Kalyoncu achieved a 50% reduction in pesticide usage, complying with stricter EU regulations.
• Save Foods' treatment reduces food waste and prolongs shelf life.

Negative

• None.

Kalyoncu Submitted a Purchase Order for its Citrus Packing House Covering the Rest of the 2021-22 Citrus Season, and Expects to Purchase More Than $1 Million Worth of Product for the 2022-23 Season

Miami, FL, March 02, 2022 (GLOBE NEWSWIRE) -- Save Foods (NASDAQ: SVFD) (FSE:80W) (“Save Foods” or the “Company”), an Agri-Food Tech company specializing in eco crop protection that helps to reduce food waste and ensure food safety, today announced that the citrus packing house of Turkish packer Kalyoncu Nakliyat Turizm Ticaret ve Sanayi Limited Şirketi (“Kalyoncu”) became a commercial customer of Save Foods for the remaining citrus season and expects to purchase more than $1 million worth of product for the 2022-23 Season. Kalyoncu is one of Turkey's top exporters of fresh produce and is currently responsible for 22% of Turkey’s fresh produce exports.

During an initial pilot that we concluded with Kalyoncu in January 2021, Kalyoncu reported that Save Foods' treatment was successful in reducing pesticide residues to below the European Commission's Maximum Residue Limits (“MRL”) on its produce. EU regulations are getting stricter, in line with its Farm to Fork sustainable objectives, aiming to make food systems fairer, healthier and more environmentally friendly. Accordingly, growers and packers around the world are now looking for ways to reduce pesticide use. Save Foods' green and eco-friendly treatment has been shown to dramatically reduce the need for pesticides and to cut pesticide residues, while driving down produce waste, prolonging shelf life and improving food safety for the consumer.

In 2021, Turkey exported fresh fruit and vegetables to 150 countries, with sales exceeding $3 billion. Turkish companies exported 1.8 million tons of citrus, worth $933 million, in 2020, and production is expected to increase during 2022. Turkish citrus exporters are routinely rejected from the EU and Russia due to MRLs higher than the limits set by the EU. This is caused by the widespread use of high concentration pesticides. However, with Save Foods' treatment, Kalyoncu managed to reduce its use of pesticides by 50% in its citrus packing house, while maintaining freshness and reducing waste by 50%.

Ahmet Sahin, Kalyoncu's packing house manager, commented: "The Turkish citrus sector is working hard to maintain the quality and freshness of our produce, but it is getting more and more challenging for growers and exporters to achieve this. We were looking for a safe, reliable, non-toxic alternative to pesticides, and with Save Foods we found it. We were able to switch to Save Foods' treatment quickly, without any additional investment in equipment. In fact, Save Foods’ treatment even reduced the overall cost of treating our citrus fruit. We are honored to be Save Foods' first client in Turkey."

Dan Szybel, CEO of Save Foods' Israeli Subsidiary, commented: "The world is moving towards more sustainable and healthier food solutions, with a strong focus on waste reduction. The industry is under pressure to reduce pesticide use, while delivery times are getting significantly longer, thereby increasing food waste. We anticipate a high demand for Save Foods' treatment in Turkey. We also aim to expand the application of our treatment to other produce in the Turkish market."

About Save Foods:

Save Foods is an innovative, dynamic company addressing two of the most significant challenges in the Agri-Food Tech industry: food waste and loss and food safety. We are dedicated to delivering integrated solutions for improved safety, freshness and quality, every step of the way from field to fork. Collaborating closely with our customers, we develop new solutions that benefit the entire supply chain and improve the safety and quality of life of both the workers and the consumers alike. Our initial applications are in post-harvest treatments in fruit and vegetable packing houses processing produce including; 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 products not only prolong fresh produce shelf life and reduce food loss and waste, they also ensure a safe, natural, and healthy product.

For more information visit our website: SAVE FOODS – SAVE FOODS

About Kalyoncu:

Kalyoncu Nakliyat Turizm Ticaret ve Sanayi Limited Şirketi was founded by Tayyip Kalyoncu on 29/12/1993, and is controlled by the next generation; Hasan and Saffet Kalyoncu. Kalyoncu Companies Group exports fresh produce, particularly citrus products. Their annual capacity of fresh produce has reached 230,000 tons. Kalyoncu Companies Group always prioritizes quality and reliability in all export products. The company has been constantly growing since its foundation.

For more information visit: KALYONCU NAKLİYAT TURİZM SAN. VE TİC.LTD.ŞTİ. (kalyoncunakliyat.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. For example, we are using forward-looking statements in this press release when we discuss, among other things, the expectation that Kalyoncu will remain an active and dependable customer, our ability to effectively maximize the market potential of Save Foods’ products in Turkey, our expectation that the demand for Save Foods’ products in Turkey will be significant, and our aim to effectively expand our commercial reach in Turkey to other produce. 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 and the satisfaction of all conditions to, and the closing of, the offering, as well as those discussed under the heading “Risk Factors” in Save Foods’ annual report on Form 10-K filed with the SEC on March 29, 2021, 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.

Media Contact:

Mia Serra, CMO
IR@savefoods.co

FAQ

What recent customer acquisition announcement did Save Foods (SVFD) make?

Save Foods announced that Kalyoncu became a commercial customer, purchasing over $1 million worth of products for the 2022-23 citrus season.

How much pesticide reduction has Kalyoncu achieved using Save Foods’ products?

Kalyoncu achieved a 50% reduction in pesticide usage through Save Foods' eco-friendly treatment.

What benefits does Save Foods’ treatment provide to Kalyoncu?

The treatment helps reduce food waste, prolongs shelf life, and complies with EU pesticide regulations.

What market does Save Foods (SVFD) aim to expand its products into?

Save Foods aims to expand the application of its treatment to other produce in the Turkish market.