Save Foods Expands Presence in Mexican Agricultural Market

Rhea-AI Summary

Save Foods (NASDAQ: SVFD) has launched a commercial program with Agrinet S.A. in Mexico, targeting three packing house companies that export fruits and vegetables. This initiative will initially focus on citrus, avocado, bell peppers, and tomatoes. Mexico is a significant global supplier of avocados, contributing about 30% of production. Save Foods' solutions aim to reduce bacterial contamination and extend shelf life, potentially decreasing retail decay by at least 50%. The company emphasizes its role in reducing food waste, which costs around $680 billion annually in industrialized nations.

Positive

• Initiation of a commercial program with Agrinet S.A. to boost sales in Mexico.
• Targeting lucrative agricultural exports, focusing on citrus, avocados, bell peppers, and tomatoes.
• Products could reduce retail decay by at least 50%, enhancing market competitiveness.
• Strategic expansion in a market accounting for 30% of global avocado production, increasing potential revenue.

Negative

• None.

Mexico is a world leader in the production and exportation of fruits & vegetables
The Company has initiated a commercial program with Agrinet S. A.

TEL AVIV, Israel, Dec. 21, 2021 (GLOBE NEWSWIRE) -- Save Foods (NASDAQ: SVFD) (“Save Foods” or the “Company”), an Israeli-based developer of eco-friendly, solutions specifically designed to ensure food safety and extend shelf life of fruit and vegetables, today announced it has initiated a commercial program in conjunction with Agrinet S. A. an agritech consultancy firm expert in introducing new products in Mexico. The program will initially include three packing house companies in Mexico that export to the United States and elsewhere worldwide, and Save Foods’ solutions will initially be applied to citrus, avocado, bell peppers and tomatoes.

Mexico is a major global producer and exporter of agricultural products; most notably avocados, where it accounts for approximately 30% of global production. Mexico additionally provides a significant share of the total world exports of citrus and melons (31%), tomatoes (24%), cucumbers (19%) and tropical fruit (22%), which include pineapples, mangos and guava.

Save Foods’ products mitigate bacterial contamination and prolong the shelf life of fresh produce and reduce food loss and waste, which represents a major economic burden for packing houses and retailers. An estimated 644 million tons of food are lost and wasted annually, with an estimated cost of roughly $680 billion in industrialized countries. Data from independent scientific studies and commercial use customers indicate treatment with Save Foods’ products may reduce decay at the retail level by at least 50%, providing further evidence of the key role Save Foods can play in reducing food loss and increasing cost efficiency.

Dan Sztybel, the Chief Executive Officer of Save Foods Ltd., the Israeli Subsidiary of Save Foods, Inc., commented, “As food concern continues to grow globally, demand for Save Foods’ effective food safety solutions is at a real tipping point. The success of our ongoing commercial programs around the world, especially in Mexico where we already sell to Sicar Farms, which recently converted four packing facilities responsible for the production of 40,000 ha of limes to use Save Foods’ products, led us to the decision to quickly expand our presence in Mexico. Mexican agriculture is thriving, and the growing export market is helping drive the economy. Packing houses are eager to implement our products because they are highly cost-effective. The plug and play nature of integration means no upfront or extra expenses, while ensuring food safety, increasing shelf life and reducing waste, which ultimately positively affects their bottom line.”

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 expanding our presence in Mexico in order to capitalize on Mexico’s market potential and our existing success with packing houses in Mexico and elsewhere globally. 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 Save Foods' recent initiative in Mexico?

Save Foods has launched a commercial program with Agrinet S.A. targeting packing houses that export fruits and vegetables.

How much does Mexico contribute to global avocado production?

Mexico accounts for approximately 30% of global avocado production.

What benefits do Save Foods' solutions provide?

Their solutions mitigate bacterial contamination and can reduce retail decay of fresh produce by at least 50%.

What agricultural products is Save Foods focusing on in Mexico?

The focus is on citrus, avocados, bell peppers, and tomatoes.

What is the estimated cost of food waste in industrialized countries?

Food waste costs approximately $680 billion annually in industrialized countries.