SAVE FOODS EXPANDS COMMERCIAL SALES WITH GALILLE EXPORT TO INCLUDE MEDJOUL DATES

Rhea-AI Summary

Save Foods (NASDAQ: SVFD) announces its first commercial sales of treatment for Medjool dates in Israel's Arava region, following successful sales of bell pepper treatments. The company's treatment aims to extend shelf life and enhance safety for fresh produce, addressing growing global demand for Medjool dates, which has risen significantly over the past two decades. Israel produces about 40,000 tons of Medjool dates annually, with half exported, contributing nearly $300 million to the economy. The partnership with Galilee Export is projected to expand into new crops and markets.

Positive

• First commercial sales of Medjool date treatments mark a key expansion for Save Foods.
• Strong demand for Medjool dates, with Israel's production increasing to 40,000 tons annually.
• Partnership with Galilee Export represents potential for growth into new crops and markets.

Negative

• None.

Israel is the World’s Largest Exporter of Medjool Dates

TEL AVIV, Israel, Dec. 07, 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 the safety of fresh fruits and vegetables, today announced its first commercial sales of its treatment for Medjool dates in the Arava region in Israel.

Today’s news comes just weeks after the Company announced its first sales in the Arava region of its treatment for bell peppers. Broad-scale commercial treatment of Medjol dates will begin at one of Galilee Export’s packing house in the region and should expand in the next up-coming season.

Worldwide demand for Medjool dates has increased steadily, and its production has grown by 66% over the last two decades. Israel is one of the world’s leading growers of Medjool dates, producing some 40,000 tons of dates annually -- nearly $300 million -- a 70% increase over the last decade, and the sector is on the rise. Approximately half of that output is exported to markets around the world. Galilee is the second largest exporter of fresh produce in Israel, and one of the Country’s leading Medjool exporters.

Dror Eigerman, CEO of Galilee Export and member of the Company’s advisory board, commented on the announcement, “Demand for our Medjool dates continues to grow as consumers increasingly recognize their health benefits. However, growing and harvesting Medjools is more labor-intensive than other produce because they ripen on the tree, and only then are they picked, as opposed to other dates which ripen after harvesting. This process means Medjools have a higher cost than other dates. Save Foods treatments allow us to maximize the revenues of each harvest, while providing consumers with the highest quality product.”

Dan Sztybel, the Chief Executive Officer of Save Foods Ltd., the Company’s Israeli Subsidiary, commented on the announcement, “The benefits of Save Foods’ treatment are recognized on a continuously growing number of produce; Medjool dates being one of them. Our relationship with Galilee Export represents a significant opportunity for the Company beyond dates; they have a well-established and growing presence in the global produce market, and a reputation for high quality produce. I am confident that we will continue to expand our partnership to include new crops and exposure to new markets going forward.”

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 www.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 significant opportunity for the Company, and expanding our partnership to include new crops and exposure to new markets going forward. 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 recent sales has Save Foods (SVFD) reported?

Save Foods announced its first commercial sales of treatments for Medjool dates in Israel's Arava region.

How much Medjool dates does Israel produce annually?

Israel produces approximately 40,000 tons of Medjool dates each year.

What is the economic impact of Israeli Medjool date exports?

The Medjool date sector contributes nearly $300 million to the Israeli economy.

What partnership is significant for Save Foods (SVFD)?

Save Foods has established a partnership with Galilee Export to expand its treatments into new markets.

Why is Save Foods' treatment for Medjool dates important?

The treatment enhances the safety and shelf life of Medjool dates, responding to increasing global demand.