Save Foods Sets its Sights on the Berry Industry After Trial Shows Dramatic Reduction in Waste

Rhea-AI Summary

Save Foods (NASDAQ: SVFD) announces the successful trial of its eco crop protection treatment, showing an 80% reduction in waste for fresh raspberries. Conducted at Trabelsi farm, the treatment extended shelf life to 13 days, significantly improving product appearance and freshness. The fresh berry market, valued at $826 billion, is projected to grow at a 6.8% CAGR to reach $1,205 billion by 2026. Save Foods aims to leverage this innovation to reduce food waste and enhance safety in the industry.

Positive

• Achieved 80% reduction in raspberry waste during trial.
• Extended the shelf life of treated raspberries to 13 days.
• Potential access to new markets as a result of improved product quality.

Negative

• None.

Save Foods’ Treatment Reclaimed 80% of Fresh Raspberries That Would Otherwise Have Gone to Waste

Miami, FL, Jan. 27, 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 to reduce food waste and ensure food safety, is extending the range of applications of its eco crop protection treatment after successfully applying it to fresh berries in a recent trial. The results showed a significant reduction in produce waste while maintaining freshness over time.

While both healthy and popular with consumers, fresh berries present a major problem for growers, packers and retailers; they have a propensity for rapid bacterial growth, which leads to decay and waste. This translates to a very short shelf life, for example around five days for raspberries, resulting in excessive waste at the retail and consumer levels.

As consumer demand and industry supply grows, the search for a solution to reduce waste in the fresh berry industry has intensified. Conventional methods for reducing waste and maintaining freshness include refrigeration, special packaging and limiting supply to local markets. Maximizing the already substantial value in the berry industry relies in part on introducing new and unique methods. In 2020, the global berry and grape market was worth around US $826 billion and is expected to grow from 2022 to 2027 at a CAGR of 6.8% to approximately US $1,205 billion by 2026.

In the trial performed at Trabelsi farm Ltd (also doing business as “Mesheq 77”), raspberries treated with Save Foods’ product retained their freshness, color, and volume, compared to the industry standard which became discolored and dehydrated in appearance (see image below). The trial exceeded the typical shelf life for berries, with ten days of cold storage and three more days at room temperature. As a result, Trabelsi farm had three times as many berries to sell, and fresher looking, longer lasting produce.

Yinon Plesser, CEO of Trabelsi Farm Ltd commented: “We found Save Foods' products to be extremely easy to implement and saw positive results from the very first treatment. The raspberries retained their freshness and there was an 80% reduction in waste. We envision that Save Foods’ treatment, by cutting down on waste and enriching the appearance of our berries, will help us penetrate new markets and grow our business globally.”

Dr. Neta Matis, COO of Save Foods’ Israeli subsidiary, Save Foods Ltd., noted: “This trial demonstrates that Save Foods’ treatment could have a transformative effect on the fresh berry industry. We have shown that our eco protection treatment helps solve two of the major problems in the industry: short shelf-life and a high level of waste and loss. We are looking forward to sharing our cost-effective, non-toxic treatment with growers worldwide, and facilitating access to new opportunities.”

About Save Foods

Save Foods is an Israel-based Agri-Food Tech company that addresses two of the most significant challenges in the fresh produce industry: food waste and loss and food safety. Save Foods is dedicated to delivering cost-effective, easy to implement solutions for improved safety, freshness and quality, every step of the way from field to fork. Collaborating closely with its customers, Save Foods develops technology that benefits the entire supply chain and improves the safety and quality of life of both workers and consumers. 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’ eco products not only prolong the shelf life of fresh produce and reduce food loss and waste, but they also ensure a safe-to-consume end-product.

About Trabelsi Berries Ltd

Trabelsi Berries Ltd (Mesheq 77) is a boutique grower specializing in tomatoes, peppers, pineapples, and high-end crops such as strawberries and other berries. The family farm was established 40 years ago by the late Rami Trabelsi, a third-generation farmer. It is located in the Negev desert in Israel and is now run by Rami’s wife Zahava and his son. The focus is on preserving resources and maintaining sustainability through solar energy, recycling irrigation water and growing many different varieties of fruit.

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 say, inter alia, our treatments may have a transformative effect on the fresh berry industry, and that our treatments help solve short shelf-life and a high level of waste and loss in the fresh berry industry. 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

Mia Serra, CMO | mia@savefoods.co

FAQ

What was the outcome of Save Foods' recent trial on raspberries?

Save Foods' trial showed an 80% reduction in waste and extended the shelf life of raspberries to 13 days.

How does Save Foods' treatment affect the fresh berry industry?

The treatment potentially transforms the fresh berry industry by reducing waste and improving product freshness.

What is the market value of the berry industry according to the press release?

The global berry market was valued at approximately $826 billion and is projected to grow to $1,205 billion by 2026.

Which company conducted the raspberry trial mentioned in the PR?

The raspberry trial was conducted at Trabelsi farm, which utilized Save Foods' eco crop protection treatment.

What does Save Foods aim to achieve with its new treatment?

Save Foods aims to reduce food waste and enhance food safety in the fresh produce industry with its eco-friendly treatment.