Save Foods Continues to Grow its Commercial Program in Turkey, Adding Bell Peppers to Ongoing Pilot

Rhea-AI Summary

Save Foods (NASDAQ: SVFD) has announced the expansion of its pilot program with HERA Meyve ve Sebze in Turkey to include bell peppers. This initiative follows a successful citrus pilot and aims to ensure compliance with EU regulations on pesticide residues. Turkey, a significant producer of bell peppers, faces challenges due to high pesticide alerts. CEO Dan Sztybel emphasized the growing demand for eco-friendly products and the opportunity for Save Foods to support packers in meeting these standards. The program is expected to enhance food safety and reduce waste.

Positive

• Expansion of pilot program to include bell peppers, indicating business growth.
• Strong demand for eco-friendly products that reduce pesticide residues.
• Opportunity to tap into Turkey's large fruit and vegetable export market.

Negative

• Turkey has reported 121 alerts for excessive pesticide residues on peppers from 2019 to 2021, indicating potential market challenges.

The extension of the program with HERA Meyve ve Sebze is designed to verify treated bell peppers will comply with the EU’s strict produce regulations

TEL AVIV, Israel, Nov. 17, 2021 (GLOBE NEWSWIRE) -- Save Foods (Nasdaq: SVFD) (“Save Foods” or the “Company”), an agri-food-tech company focused on developing and selling eco-friendly products specifically designed to extend the shelf life and ensure food safety of fresh fruits and vegetables, today announced that it will expand its current pilot program with HERA Meyve ve Sebze in Turkey to include bell peppers. The current commercial pilot program is in addition to the commercial trial for citrus fruits with HERA Meyve ve Sebze previously announced on November 2, 2021.

Turkey produces over 2,500,000 tons of bell peppers annually, part of which is allocated for export. During 2019 to 2021, Turkish peppers generated 121 alerts for containing an excess of pesticide residues. The first step in the commercial program, is a large commercial scale test to ensure the product’s seamless implementation and efficacy ensuring low level of pesticides residues.

Dan Sztybel, the Chief Executive Officer of Save Foods Ltd., the Company’s Israeli Subsidiary, commented on the announcement, “During our recent visit to Turkey to initiate the pilot program for citrus fruits HERA Meyve ve Sebze expressed their need for a treatment protocol in bell peppers. Following the initial indications of success in the citrus program, and the recent studies we have performed in Israel for bell peppers, HERA Meyve ve Sebze requested that we expand the current program to include bell peppers as well.”

Mr. Sztybel went on to say: “I am thrilled that the demand for green and efficient products that reduce pesticide residues is even stronger than anticipated. The desire and business need to meet the criteria set by European regulations is significant, and creates significant business opportunities for Save Foods. Many of the packers I am meeting are eager to implement a program to ensure they are meeting those criteria and will not face rejections due to excess of pesticides residues.” 

“We are working hard to add additional packers to join and test our unique offering in the near future. Turkey represents a tremendous opportunity for Save Foods since it is one of the world’s largest producers of fruit and vegetables, exporting more than 42% of its production to EU countries. We believe the operational and economic benefits of our seamless plug and play solution offer a strong value proposition to the region.”

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 & loss and food safety. Save Foods is dedicated to delivering integrated solutions for improved safety, freshness and quality, every step of the way from field to fork. Collaborating closely with its customers, Save Foods develops innovative solutions that benefit the entire supply chain and improve the safety and quality of life of both the workers and the consumers alike. Save Foods’ initial applications are in post-harvest treatments in fruit and vegetable packing houses processing citrus, avocado, pears, bell peppers 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 they also ensure a safe, green, 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 pilot program with HERA Meyve ve Sebze, including the timing and design of the trial, verifying that the Company’s products reduce the presence of hazardous pesticide residues on bell peppers, compliance with European regulations, the growing demand for the Company’s products and discussions with additional packing houses to join the program. 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:
IR@savefoods.co

FAQ

What is the significance of the pilot program expansion for SVFD?

The expansion is crucial as it includes bell peppers in compliance with EU pesticide regulations, potentially increasing Save Foods' market presence and revenue.

How does Save Foods plan to ensure compliance with EU regulations?

Save Foods aims to conduct large-scale tests to confirm its product's efficacy in reducing hazardous pesticide residues.

What challenges does Turkey face regarding bell pepper exports?

Turkey has faced 121 alerts for pesticide residue violations from 2019 to 2021, which could impact its export reputation.

What opportunity does Turkey represent for Save Foods?

Turkey is one of the largest producers of fruits and vegetables, providing significant market opportunities for Save Foods’ eco-friendly solutions.

Who is the CEO of Save Foods?

Dan Sztybel is the CEO of Save Foods, actively involved in expanding the company's initiatives in Turkey.