Save Foods Successfully Completes Lemon Pilot Tests in Spain

Rhea-AI Summary

Save Foods (Nasdaq: SVFD) has completed successful pilot tests for lemon treatments in Spain with a leading post-harvest service provider. Spain, accounting for 64% of the EU's lemon production, serves as a strategic market for the company's eco-friendly solutions aimed at extending produce shelf life and ensuring food safety. Preliminary results indicate effectiveness in reducing fungicide use and meeting stringent EU regulations. Future commercial-grade validation tests are planned, supporting Save Foods' strategy in compliance with the EU’s Farm to Fork Strategy.

Positive

• Successful pilot tests in Spain indicate product effectiveness.
• Aligns with EU's stringent regulations on food safety and pesticide use.
• Potential for commercial-grade validation tests in the upcoming harvest season.

Negative

• None.

Pilot tests were conducted together with a leading service provider in the post-harvest space

TEL AVIV, Israel, Sept. 22, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- Save Foods (Nasdaq: SVFD) (“Save Foods” or the “Company”), an agrifood 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 it successfully completed a series of lemon treatment pilot tests in Spain, with a leading post-harvest service provider (“the Provider”).

Spain is the leading European country in terms of lemon production, with a total of 1.2 million tons in 2020; that is 64% of the EU's total lemon production. Spain is the largest lemon exporter in the world, accounting for approximately 27% with an estimated market value of $1 billion in 2020.

The pilots, which are part of the Company’s strategy targeting the EU as a prime market, were designed to evaluate the efficacy of Save Foods’ products in controlling some of the main post-harvest plant diseases as well as reducing the use of fungicides which leave residue, such as Imazalil. The tests were specifically designed to meet the anticipated increase in EU regulatory restrictions with respect to the allowable levels of residual fungicide.

The Provider that participated in the pilot indicated to Save Foods that preliminary results met the established milestones. As a result, the Company and Provider are discussing plans for a commercial-grade validation test to take place in the upcoming harvest season.

The EU has some of the most aggressive regulations in the world regarding the sale of fruits and vegetables within its borders. Its Farm to Fork Strategy, which is at the heart of the European Green Deal Initiative, sets definitive benchmarks to reduce pesticides use by 50% and fertilizer use by 20%, and transition 25% of all EU farmland into organic cultivations by 2030. Some food retailers in member countries, like in Germany, have gone beyond the Farm to Fork Strategy, creating their own, narrower regulations.

Dan Sztybel, Chief Executive Officer of Save Foods Ltd., the Company’s Israeli subsidiary, commented on the announcement, “The successful lemon tests confirm the results we’ve repeatedly demonstrated in other independent tests and commercial applications. We will continue to work with our partners in the upcoming harvest season to further validate Save Foods’ treatments on lemons and other citrus fruits.”

Sztybel went on, “I believe the results we achieved in these pilots support our marketing efforts in the EU, where increasingly stringent regulations will make compliance difficult for operators and exporters. Our green treatments provide a seamless solution for packers to meet those regulations with no compromise to their fruit quality or shelf life.”

David Palach, Chief Executive Officer of the Company, commented, “I truly appreciate the EU’s proactive approach to food safety, reducing waste, limiting the use of pesticides and other contaminants, and promoting a sustainable food system. They are taking a big step toward safeguarding the EU’s food supply as well as the environment. I’m hopeful the Farm to Fork Strategy will serve as an example for other world markets.”

About Save Foods

Save Foods is an innovative, dynamic company addressing two of the most significant challenges in the agrifood 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 new 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 https://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 our ability to penetrate the EU markets, the far-reaching positive ramifications of the results of the pilot test held in Spain as discussed in this press release, the ability of our products to effectively address and comply with each of the newly enacted EU regulations, that our products may effectively enable packers to meet EU regulatory requirements for regulations discussed in this press release, 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. 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:
Dariela Farcas
IR@savefoods.co

Corporate Communications:
InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com

FAQ

What were the results of Save Foods’ pilot tests in Spain?

The pilot tests confirmed the efficacy of Save Foods' lemon treatments in controlling post-harvest diseases and reducing fungicide residues.

How does Save Foods plan to expand in the EU market?

Save Foods aims to penetrate the EU market by providing eco-friendly solutions that comply with the EU's Farm to Fork Strategy.

What is the significance of the lemon production in Spain for Save Foods?

Spain's position as a leading lemon producer highlights the strategic importance of the market for Save Foods' eco-friendly products.

What is the Farm to Fork Strategy?

The Farm to Fork Strategy is part of the European Green Deal Initiative aimed at reducing pesticide use by 50% and promoting sustainable agriculture.

What is the stock symbol for Save Foods?

The stock symbol for Save Foods is SVFD.