Save Foods Begins Commercial Avocado Treatment Program with Galilee Export
Save Foods (Nasdaq: SVFD), an Israeli agrifood tech company, has announced a major commercial treatment program with Galilee Export, Israel's second-largest exporter of fresh produce. The collaboration centers on enhancing the shelf life and safety of avocados, which are Galilee's primary product, accounting for nearly 50% of Israel's avocado exports. Treatment will commence in October and continue through the 2021-2022 growing season. CEO Dan Sztybel expressed confidence in the partnership's potential, emphasizing quality standards and the benefits already observed in previous pilot programs.
- Partnership with Galilee Export could lead to significant revenue growth due to increased demand for treated avocados.
- Galilee's reputation as a leading exporter supports market credibility for Save Foods' products.
- Reliance on a single partnership for revenue growth could pose risks if the collaboration does not yield expected results.
- Forward-looking statements within the release indicate potential uncertainties about future performance.
Galilee is the second largest exporter of fresh produce in Israel with customers all over the world
TEL AVIV, Israel, Oct. 04, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- Save Foods (Nasdaq: SVFD) (“Save Foods” or the “Company”), an Israeli-based agrifood tech company focused on developing and selling eco-friendly products specifically designed to extend the shelf life and ensure the safety of fresh fruits and vegetables, today announced that it is beginning a large commercial treatment program with Galilee Export (“Galilee”) a leading Israeli avocado packer.
Galilee is the second-largest exporter of fresh produce in Israel, managing over 9,000 hectares of farmland, growing a wide range of fruits and vegetables for customers around the world. Avocados are their leading product and Galilee accounts for nearly
Galilee’s avocado fields are located in Israel’s Galilee region in the north of the county. The regional climate provides a nine-month grow season, from September to May, and contributes to a range of varieties of avocado, each with different taste and quality characteristics.
Treatment on the commercial line will begin at Galilees’ state-of-the-art packing houses in October and is expected to run throughout the 2021-2022 grow season.
Dan Sztybel, CEO of Save Foods Ltd., added, “We’re pleased that Galilee has decided to launch a commercial application of Save Foods’ products. Galilee has one of the most advanced operations in the industry. I am confident that our treatments will continue to deliver the benefits they experienced in the smaller avocado pilots on a larger scale, and ensure they safely export high-quality avocado with a better shelf life while complying with the strict regulations and protocols instituted by their EU customer base.”
Dror Eigerman, CEO of Galilee Export and member of the Company’s advisory board, commented on the announcement, “We have the highest quality standards in the industry to ensure that we provide our customers with excellent produce that not only complies with all regulatory demands but also remains fresh and delicious on the shelves. My experience with Save Foods, as both a customer and an advisor, has been exceptional, which gave me the confidence to initiate the commercial run on our most important produce harvest.”
Sztybel concluded, “It often takes a few grow seasons to prove our products, especially with larger companies, but over that time, we also establish a solid working relationship with them and earn their trust. Galilee is one of the leading companies in the industry and I expect that a successful commercial test will lead to treatment of their other many produce lines going forward.”
About Save Foods
Save Foods is an innovative, dynamic company addressing two of the most significant challenges in the agrifood tech industry: food waste & 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, 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 but also ensures a safe, natural and healthy product.
For more information visit our website at https://savefoods.co.
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 the monetary and general business potential that a partnership with Galilee Exports, as discussed in this press release, will have on our business and operations, the ability of our solutions to succeed and contribute positively to Galilee Exports, and the potential that such arrangement with Galilee Exports will lead to and facilitate additional commercial opportunities for Save Foods. 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:
Dariela Farcas
dariela@savefoods.co
Corporate Communications:
InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com
FAQ
What is the significance of Save Foods' partnership with Galilee Export?
When will the avocado treatment program start at Galilee?
How much of Israel's avocado exports does Galilee account for?
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