N2OFF

Save Foods Increasing its Potential Market Reach Following Pre-Harvest Regulatory Approval in California

Company is now poised to offer its solution in California targeting the $14 billion market of organic products

Neve Yarak, Israel, March 25, 2024 (GLOBE NEWSWIRE) -- N2OFF, Inc. (NASDAQ: NITO) (FSE:80W) (“N2OFF” or the “Company”), a pioneer agri-food tech company offering sustainable solutions for agriculture and plant-based food, previously announced that the California Department of Pesticide Regulation (CDPR) registered for use Save Foods Ltd.’s pre-harvest treatment, FieldProtect, based on its compliance with California laws and regulations pertaining to pesticide registration.

The approval now extends the use of the product in California from exclusively post-harvest processes to include pre-harvest applications, which significantly broadens Save Foods' potential market reach. We believe this marks an important step forward for Save Foods in providing food safety and reducing waste from field to fork, paving the way for its potential commercial expansion in California.

The Company believes entry into the California agricultural sector, which generates substantial revenue and leads in organic production in the United States, places Save Foods in a favorable position within the sustainable agriculture market. FieldProtect is designed to meet the stringent environmental and safety standards set by the CDPR, demonstrating the Company's commitment to providing eco-friendly solutions that benefit growers, consumers, and the environment.

According to the California Department of Food and Agriculture, in 2022, California generated over $59 billion in market value from its diverse range of products and in 2021, agricultural exports increased 7% from 2020 to $22.5 billion, while organic product sales reached $14.0 billion, marking a 16.4% rise from the previous year. We believe that California’s commitment to sustainable farming on over 2.13 million acres provides an ideal backdrop for FieldProtect’s introduction.

Previous trial on strawberries, revealed promising results whereby Save Foods’ research and development team managed to dramatically extend the shelf life of strawberries. The trial has shown an 85% reduction in waste of fresh strawberries compared to the industry standard..

According to the California Department of Food and Agriculture, in 2021, the California strawberry industry highlighted its vibrant dynamism and critical economic role, reinforcing the state's position as the premier strawberry producer in the United States, accounting for approximately 90% of the country's production. The sector reported a total annual farm value of $1.99 billion, positioning strawberries among the top agricultural commodities in California. This flourishing market offers a remarkable opportunity for companies providing cutting-edge solutions specifically designed for berry production. Save Foods is now poised to offer its treatment to extend the shelf life of berries and other premium produce, particularly strawberries, which are a standout product in California's agricultural portfolio.