N2OFF’s (NASDAQ: NITO) (FSE: 80W) (formerly known as Save Foods, Inc.) subsidiary Save Foods Ltd., an innovative, dynamic company addressing food waste and loss and food safety in the agri-food tech industry, has entered into a non-binding letter of intent (“LOI”) with GENSIS PM TDC, an Ethiopian Federal Agency. Under the LOI, announced Tuesday morning, the agency seeks to utilize Save Foods’ innovative eco-friendly solutions across Ethiopia’s large-scale farming sector, potentially supporting the country’s efforts to develop sustainable agricultural practices, enhance crop yields, and ensure food safety. David Palach, N2OFF’s CEO, believes the agreement could yield dozens of millions of dollars in revenues if consummated.
“As part of the agreement, Save Foods and the Ethiopian government will collaborate on establishing a local production facility in Ethiopia. This move ensures that Save Foods’ technologies will be accessible throughout the country, thus further supporting the transition to sustainable farming practices. The aim is for the partnership to reach a nationwide rollout, eventually requiring all farmers in Ethiopia to utilize these solutions,” said Palach.
To view the full press release, visit https://ibn.fm/oZtyg
About N2OFF Inc.
N2OFF, Inc. (formerly known as Save Foods, Inc.) is a clean tech company engaged in sustainable solutions for energy and innovation for the agri-tech. Through its operational activities, it delivers integrated solutions for sustainable energy, greenhouse gas emissions reduction and safety, quality solutions for the agri-tech market. NTWO OFF Ltd., N2OFF’s majority-owned Israeli subsidiary, aims to contribute in tackling greenhouse gas emissions, offering a pioneering solution to mitigate nitrous oxide (N 2O) emissions, a potent greenhouse gas with 310 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 recently entered the solar PV market and will provide funding to Solterra Renewable Energy Ltd. for the current project with a total capacity of 111 MWp, as well as potential future projects. Save Foods Ltd., N2OFF’s majority-owned Israeli subsidiary, focuses on post-harvest treatments in fruit and vegetables to control and prevent pathogen contamination. N2OFF also has a minority ownership in Plantify Foods Inc. (TSX.V: PTFY), a Canadian company listed on the TSXV that offers a wide range of clean-label healthy food options. For more information about N2OFF and NTWO OFF, visit www.N2OFF.com.
NOTE TO INVESTORS: The latest news and updates relating to N2OFF are available in the company’s newsroom at https://ibn.fm/NITO
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