Save Foods Inc SVFD announced Monday that Galilee Export, the second-largest exporter of fruit and vegetables in Israel, will require all their bell pepper suppliers to apply Save Foods' treatment.
The Israel-based Agri-Food Tech company specializes in crop protection by delivering cost-effective, easy to enact solutions for improved safety, freshness and quality of produce.
"Our products address one of the major challenges of the food industry — food waste and loss reduction. Packing houses around the world are facing new challenges, such as keeping produce fresh throughout the — often long —transportation and distribution process," Dan Sztybel, CEO of Save Foods said. "Many major packing houses are currently carrying out trials on our products. We are looking forward to working with Galilee Export and are confident that we will be adding more major clients to our portfolio soon."
Galilee Export has sales of over $200 million a year and will initially treat 100% of their bell peppers with Save Foods' product, with avocados coming online shortly afterwards.
"After several months of evaluating Save Foods' treatment, my team and I are convinced of the benefits of these products," said Dror Eigerman, CEO of Galilee Export.
"Not only do they reduce decay and extend shelf life, but they also improve the firmness of the peppers. This will help us to offer our customers consistently high-quality produce with no chemical residues and reduce waste."
Shares of Save Foods were up 27.76% on Friday, closing at $5.20.
See Also: Flowr Corp. Debuts In Israeli Cannabis Market With First Marijuana Shipment
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
