SAVE FOODS REPORTS ITS FIRST COMMERCIAL SALE OF PEROSTAR™ FOR THE TREATMENT OF BELL PEPPERS

Rhea-AI Summary

Save Foods (Nasdaq: SVFD) has announced its first commercial sales of PeroSTAR™ to two bell pepper packing houses in Israel's Arava region, which produces 60% of Israel's fresh vegetable exports. The packing houses will use PeroSTAR™ to enhance the quality and shelf life of their produce without harmful residues. This development follows recent regulatory approval from the California Department of Pesticide Regulation for bell peppers, a crop valued at $479 million, with California being a major contributor. Save Foods aims to reduce food waste while ensuring food safety.

Positive

• First commercial sales of PeroSTAR™ product to two bell pepper packing houses in Israel.
• The Arava region contributes 60% of Israel's vegetable exports, indicating significant market potential.
• Recent regulatory approval by California for PeroSTAR™, covering a $479 million bell pepper market.

Negative

• None.

Two packing houses in Israel will use Save Foods’ treatment to ensure the safety and maximum shelf life of their produce prior to export

TEL AVIV, Israel, Nov. 29, 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 the first commercial sales of its PeroSTAR™ product to two of the leading bell pepper packing houses in Israel’s Arava region.

After their positive experience trying Save Foods’ treatment, the packing houses decided to fully integrate the Company’s product in their treatment process to ensure the optimal quality and shelf life of their bell peppers.

The Arava region produces approximately 60% of all of the fresh vegetables that Israel exports, and bell peppers are the leading crop, largely sold to Russia, North America, and the UK.

This [Company’s] first commercial sale for the treatment of bell peppers in Israel comes on the heels of the Company’s recent regulatory approval of its product by the California Department of Pesticide Regulation (CDPR). That CDPR approval also covers bell peppers, a crop valued at $479 million in the United States, with California accounting for nearly 50% of peppers grown in that market.
Dan Sztybel, the Chief Executive Officer of Save Foods Ltd., the Company’s Israeli Subsidiary, commented on the announcement, “We are excited to see the first large scale commercial implementation of our product for the bell pepper market, especially here in the heart of Israel’s thriving agriculture industry. We believe that the use of Save Foods’ treatment will help the Arava packing houses export produce of the highest quality without fungicides or a trace of hazardous residue.”

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 commercial sales and the benefits of its products. 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 Save Foods' first commercial sales of PeroSTAR™ in Israel?

Save Foods' first commercial sales of PeroSTAR™ are significant as they mark the company's entry into a major market, enhancing the quality and shelf life of bell peppers, a leading export crop in Israel.

How much of Israel's fresh vegetables are produced in the Arava region?

The Arava region produces approximately 60% of all fresh vegetables exported from Israel.

What recent approval did Save Foods receive regarding its products?

Save Foods received regulatory approval from the California Department of Pesticide Regulation for its PeroSTAR™ product, which also covers bell peppers.

What market does the bell pepper crop represent for Save Foods?

The bell pepper crop is valued at $479 million in the United States, with California producing nearly 50% of this volume.