Save Foods' Subsidiary Changes its Name to NTWO OFF Ltd.
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The recent development from NTWO OFF, a subsidiary of Save Foods, Inc., regarding the discovery of bacteria species capable of reducing nitrous oxide (N2O) emissions from wheat roots, represents a significant advancement in sustainable agriculture. Nitrous oxide is a potent greenhouse gas with a global warming potential approximately 300 times that of carbon dioxide over a 100-year period. The agricultural sector is a major source of N2O, primarily due to the use of nitrogen-based fertilizers. Hence, the ability to mitigate these emissions is crucial in combating climate change.
The implications of this technology are substantial. If NTWO OFF's solution proves effective and scalable, it could lead to widespread adoption in the agricultural industry, potentially reducing the sector's carbon footprint. This innovation could also align with global sustainability goals and regulatory pressures, opening up new markets for Save Foods, Inc. Furthermore, the technology might provide a competitive advantage for early adopters among farmers and agribusinesses, possibly leading to improved market positioning and financial incentives such as carbon credits.
From an economic standpoint, the introduction of a technology that reduces N2O emissions in agriculture could have far-reaching financial implications. If the technology developed by NTWO OFF is cost-effective, it could lower the overall production costs for farmers by reducing the need for nitrogen fertilizers and potentially avoiding environmental compliance costs. This could improve profit margins for farmers and lead to a shift in agricultural practices.
Moreover, the technology could attract investments focused on sustainability and environmental, social and governance (ESG) criteria. As investors increasingly consider the environmental impact of their portfolios, companies like Save Foods, Inc. that contribute to sustainable solutions may benefit from increased investment interest. This could positively influence the company's stock market performance, provided that the technology's efficacy is demonstrated and accepted by the market.
Analyzing the market impact, the announcement by NTWO OFF could position Save Foods, Inc. at the forefront of a niche but growing segment within the agri-food tech industry. The demand for sustainable agricultural technologies is on the rise, driven by consumer awareness and regulatory changes. A successful product that reduces N2O emissions could capture a significant share of this market.
It is important to monitor the progress of NTWO OFF's greenhouse and field tests to gauge the potential market readiness of the technology. The company's ability to patent its findings and protect its intellectual property will also be a key factor in its commercial success. Should the technology prove effective across various crops and environments, it could disrupt traditional agricultural practices and create a new standard for sustainable farming, potentially impacting the stock value of Save Foods, Inc. and its competitors.
Neve Yarak, Israel, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Save Foods, Inc. (NASDAQ: SVFD) (FSE:80W), a pioneer agri-food tech company offering sustainable solutions for agriculture and plant based food, today announced that its subsidiary, formerly known as Nitrousink Ltd., received approval from The Registrar of Companies in Israel, to change its name to NTWO OFF Ltd. ("NTWO OFF ").
NTWO OFF has identified and isolated two naturally occurring bacteria species that can reduce N2O emissions from wheat roots under various environmental conditions. The R&D team at NTWO OFF is currently testing its technology under greenhouse conditions with the objective of locating the optimal formula for reducing N2O emission in wheat crops. NTWO OFF intends to continue its testing in micro field plots using different soils, dosages, and formulations for a variety of crops, including corn and rice.
About Save Foods:
Save Foods, Inc. is an innovative agri-food tech company that through its two majority owned subsidiaries, Save Foods Ltd. and NTWO OFF Ltd., and a minority owned subsidiary, Plantify Foods Inc. Through its operational arms, Save Foods delivers integrated solutions for improved safety, quality, and sustainability every step of the way from field to fork. Save Foods Ltd., its majority-owned Israeli subsidiary, focuses on post-harvest treatments in fruit and vegetables to control and prevent pathogen contamination, significantly reduce the use of hazardous chemicals, and prolong fresh produce’s shelf life. NTWO OFF Ltd., its other majority-owned Israeli subsidiary, contributes to tackling greenhouse gas emissions, offering a pioneering solution to mitigate N2O (nitrous oxide) emissions, a potent greenhouse gas with 265 times the global warming impact of carbon dioxide. NTWO OFF aims to promote agricultural practices that are both environmentally friendly and economically viable. Plantify Foods, Inc., the Company’s minority-owned Canadian subsidiary listed on the TSXV, offers a wide range of clean-label healthy food options that are nutritious, gluten free, non-allergenic, use whole natural ingredients, and are easy to prepare. For more information on Save Foods Ltd. and NTWO OFF Ltd. visit our website: 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. Because such statements deal with future events and are based on our current expectations, they are subject to various risks and uncertainties, including the possibility that the patent application discussed in this press release will not be approved by the US Patent and Trademark Office and, even if approved, that Nitrousink’s solution may not exact the anticipated results in wheat as contemplated in this press release. 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 as well as those discussed under the heading “Risk Factors” in Save Foods' registration statement on Form S-1 filed with the SEC on February 7, 2024, 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.
Investor Relations Contacts:
Michal Efraty
+972-(0)52-3044404
michal@efraty.com
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