Save Foods Reduces Pear Loss by 60% and Adds Biggest Israeli Packer, Rafkor Ltd., as Commercial Customer

Rhea-AI Summary

Save Foods (NASDAQ: SVFD) reported impressive pilot results, showing a 60% reduction in pear loss after a two-season trial conducted with Rafkor Ltd. This Israeli packing house now officially uses Save Foods' eco-friendly treatment, which significantly mitigates post-harvest losses in pears, a major issue affecting the fruit industry. The fresh pear market is projected to reach $37.1 billion by 2027, highlighting the growth potential for Save Foods' products. The company aims to address food waste and safety challenges in the agri-tech sector.

Positive

• 60% reduction in pear loss reported in trials with Rafkor.
• Rafkor becomes a commercial customer, indicating product efficacy.
• Growing fresh pear market projected to reach $37.1 billion by 2027.

Negative

• None.

A Commercial Pilot with Rafkor Replicated Impressive Results Over Two Seasons

Miami, FL, March 21, 2022 (GLOBE NEWSWIRE) -- Save Foods (NASDAQ: SVFD) (FSE:80W) (“Save Foods” or the “Company”), an agri-food tech company specializing in eco crop protection that helps reduce food waste and ensure food safety, today announced pilot results that show Save Foods' treatment reduces pear loss by 60%. This announcement follows a recently completed two-season trial with Israeli packer, Rafkor Ltd., who has now become a commercial customer of Save Foods.

In the US, pears are a popular summer fruit. Modern post-harvest technologies, such as chemical treatment and refrigeration, make it possible to enjoy them all year round, with storage periods of up to 12 months. However, post-harvest disease is a major limiting factor in the long-term storage of the fruit. Losses can be as high as 50-60% in storage bins before packing, and decay can also be found in boxes of packed fruit. The loss of produce, and repacking due to decay, costs the industry millions of dollars each year. Post-harvest losses for pears - in storage, at the retail level and with the consumer - have a serious impact on food security, profitability, and the ability of growers to sustainably manage natural resources.

Rafkor, located in Rosh Pina in northern Israel, is a leading packing house that treats about 40% of the pears produced in Israel. They also handle other fresh produce such as as stone fruit, citrus, pomegranates and kiwi. After two consecutive seasons using Save Foods' green treatment, Rafkor experienced an average of 60% less waste after long-term storage for the two varieties of pears used in the pilot, Kostya and Spadona. Globally, the value of the fresh pear market is projected to reach US$ 37.1 billion by 2027. 

Haviv Aharon, Chief Executive Officer of Rafkor Ltd., commented: "Being a sustainable company is an important element of the company’s mission and Save Foods’ green products are safe and contribute to the preservation of the overall quality of the pears during long storage. We are now looking to expand our use of Save Foods' products to other fruit."

Dan Sztybel, CEO of Save Foods' Israeli Subsidiary, noted: "We have shown time and again that our treatment is effective and has a positive impact on waste reduction and on the bottom line for growers, packers and retailers. So far all our commercial trials have converted to commercial customers, which is a testament to the effectiveness and significance of our eco-friendly products." Mr. Sztybel went on to say: “We believe that reducing food loss and waste is now more important than ever. According to the UN’s World Food Programme, the number of people on the edge of famine now stands at 44 million, up from 27 million in 2019. Experts believe the conflict between Russia and Ukraine will further exascerbate the global food system, which was already strained under supply chain issues and changing weather patterns”.

About Rafkor

Rafkor Ltd. was founded in 1970 by farmers in Rosh Pina, in order to handle the storage, packaging and marketing of their crops. These days the company also receives fruit from outside the local area, providing all stages of treatment and marketing. Over the years, the company has developed expertise in handling a variety of fruits. Rafcor was the first company to store pears in controlled cold storage for a whole year, and to this day it leads in all stages of pear treatment, with the company treating about 40% of the total pear crop in israel.

For more information visit: www.rafkor.co.il

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 and 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 produce 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, they also ensure a safe, natural, and healthy product.

For more information visit our website: 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, among other things, the expectation that Rafkor will remain an active and dependable customer, our ability to effectively maximize the market potential of Save Foods’ products in pear produce industry, the ability of Save Foods’ treatment to achieve the same, or similar, results on pears outside the context of a controlled trial, and the probability that Save Foods’ treatment will dramatically extend the shelf life of pears. 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:
Mia Serra, CMO
IR@savefoods.co

US Investor Relations: 
Dave Gentry 
RedChip Companies Inc. 
1-800-RED-CHIP (733-2447) 
Or 407-491-4498 
SVFD@redchip.com

German Investor Relations:
Dr Eva Reuter
e.reuter@dr-reuter.eu 

FAQ

What were the results of Save Foods' pilot with Rafkor?

Save Foods demonstrated a 60% reduction in pear loss during a two-season trial with Rafkor.

Who is Rafkor and what is their relationship with Save Foods?

Rafkor is a leading Israeli packing house that has become a commercial customer of Save Foods, utilizing their eco-friendly treatment.

What is the significance of the fresh pear market's projected growth?

The fresh pear market is expected to reach $37.1 billion by 2027, presenting significant opportunities for Save Foods' products.

How does Save Foods' treatment impact food safety?

Save Foods' eco-friendly treatment helps reduce food waste and enhances food safety during storage.