Save Foods Granted A Patent For Its Proprietary Compound For The Natural Protection Of Edible Matter

Rhea-AI Summary

Save Foods has received European patent approval for its innovative eco-friendly post-harvest treatments aimed at extending the shelf life of fresh produce. The company plans to validate the patent in key European countries including Spain, France, Germany, and the UK. Its products can reduce conventional fungicide use by over 50% and potentially cut spoilage-related food waste by up to 50%. Save Foods holds a portfolio of seven issued patents, one allowed, and seven pending applications across major markets, addressing the crucial issues of food safety and sustainability.

Positive

• Approval of European patent enhances market protection for Save Foods' eco-friendly technologies.
• Potential to significantly reduce food spoilage and waste, addressing ongoing food security issues.
• Strong intellectual property portfolio with several patents issued and pending in major markets.

Negative

• None.

European Patent Office Approval Expands Save Foods’ Protection for Processes Related to its Core Technology

Tel Aviv, Israel, Sept. 09, 2021 (GLOBE NEWSWIRE) -- Save Foods (“Save Foods” or the “Company”) (Nasdaq: SVFD), 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 after the allowance of the European patent application of its Israeli Subsidiary, Save Foods Ltd., the board has approved its validation in Spain, France, Germany and the UK.

Save Foods’ core applications are eco-friendly post-harvest treatments for fruits and vegetables. The Company’s proprietary blend of organic food acids reduces the need for conventional post-harvest fungicide by at least 50% - and in some cases entirely - and can reduce food waste due to spoilage by up to 50%. Crops currently being treated account for billions of dollars in sales around the world, and include citrus fruit, avocado, pears, mango and bell peppers.

Dr. Neta Matis, the Vice President of Research and Development of Save Foods Ltd., commented on the announcement, “In the EU, approximately 90 million tons of food waste are generated annually, that’s about 20% of all food produced. This, plus the continued and growing demand for natural, high quality and sustainable food make the EU a considerable opportunity for Save Foods. With this award, we have secured protection in all key European markets. Our intellectual property portfolio now includes seven issued patents, one allowed and seven pending applications in Israel, the United States and Europe, four of which may be submitted worldwide, with expiration dates ranging from 2031 through 2041.”

About Save Foods

Save Foods is an innovative, dynamic company addressing two of the most significant challenges in the agrifoodtech 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 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, it also ensures a safe, natural, and healthy product. For more information visit our website at https://savefoods.co/, the content of which is not a part of this press release.

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 that our proprietary blend of organic food acids may reduce the need for conventional post-harvest fungicide by at least 50% and in some cases entirely and may reduce food waste due to spoilage by up to 50% and when we discuss the continuing demand for a safe, high quality, sustainable food supply. 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 AND INVESTOR RELATIONS CONTACT
David Palach, CEO | david@savefoods.co
IR: Dariela Farcas Berdichevsky: dariela@savefoods.co

FAQ

What is the significance of Save Foods' European patent approval?

The patent approval secures protection for Save Foods' eco-friendly post-harvest treatments in key European markets, enhancing its competitive advantage.

How does Save Foods' technology impact food waste?

The company's products can potentially reduce food waste due to spoilage by up to 50%, significantly addressing global food waste issues.

What countries will Save Foods validate its patent in?

Save Foods plans to validate its patent in Spain, France, Germany, and the UK.

What does Save Foods' intellectual property portfolio include?

The portfolio includes seven issued patents, one allowed, and seven pending applications in Israel, the United States, and Europe.

How does Save Foods' technology compare to conventional methods?

Save Foods' proprietary blend of organic food acids can reduce the need for conventional fungicides by at least 50%.