N2OFF Set to Deploy Inset Strategy for Monetizing its Proprietary Technology for the Reduction of N2O Greenhouse Gas Emissions
April 11 2024 - 9:00AM
N2OFF, Inc. (NASDAQ: NITO) (FSE:80W) and its subsidiary NTWO OFF
LTD (together “N2OFF” or the “Company”), a pioneer agri-food tech
company offering sustainable solutions for agriculture and
plant-based food, announced it intends to pursue and implement an
inset strategy aimed at capturing market opportunities with
established companies which seek to reduce N2O greenhouse gas
emissions.
The inset strategy involves collaborating with
established companies with Environmental, Social, and Governance
(ESG) initiatives. The Company intends to offer its future product
particularly to companies that are focusing on reducing greenhouse
emissions in agriculture. According to Dr. Dror Minz from the ARO
Vulcani Institute to the best of his knowledge, there are no other
known dedicated technologies for the reduction of N2O greenhouse
emission for agriculture.
N2OFF is working on developing natural,
environmentally friendly and safe plant root bacterial strains
which are non-GMO to be planted in the soil in hopes of reducing
N2O emissions. N2OFF’s pilot program has demonstrated a 40%
reduction in N2O emissions using this method. Given the success of
its pilot, N2OFF seeks to become a key ESG partner within the
agricultural value chain, supporting businesses across the
agricultural sector in achieving their sustainability goals.
“While N2OFF’s technology is still in
development, the Company is hopeful about its potential, said David
Palach, Chief Executive Officer of N2OFF, Inc. “We are excited to
initiate an inset strategy, enabling us to approach the market and
contribute to emission reduction efforts in agriculture. By
partnering with companies committed to sustainability, we believe
we have the potential to play a role in reducing N2O
emissions.”
We believe that companies with established
relationships with farmers stand to benefit from N2OFF’s
technology, which can reduce N2O greenhouse gas emissions
associated with agricultural activities.
About N2OFF Inc:
N2OFF Inc. (formerly known as Save Foods, Inc.)
is an innovative agri-food tech company that through its three
operational arms delivers integrated solutions for improved safety,
quality, and sustainability every step of the way from field to
fork. Save Foods Ltd., N2OFF's 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., N2OFF's majority-owned Israeli subsidiary,
contributes to tackling greenhouse gas emissions, offering a
pioneering solution to mitigate nitrous oxide (N2O) emissions, a
potent greenhouse gas with 265 times the global warming impact of
carbon dioxide. NTWO OFF Ltd., aims to promote agricultural
practices that are both environmentally friendly and economically
viable. N2OFF also has a minority ownership in Plantify Foods,
Inc., a Canadian company listed on the TSXV that 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: www.n2off.com.
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, 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' Annual Report on Form 10-K filed with
the SEC on April 1, 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)52-3044404michal@efraty.com
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