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Save Foods files patent for eco-friendly wheat production tech

Published 2024-02-22, 08:00 a/m
Updated 2024-02-22, 08:00 a/m
© Reuters.

NEVE YARAK, ISRAEL - Save Foods, Inc. (NASDAQ: SVFD), an agri-food tech company known for its sustainable agricultural solutions, has announced through its majority-owned subsidiary, NTwo Off Ltd., the filing of a U.S. patent application for a new technology aimed at reducing nitrous oxide emissions in wheat production. The application, submitted on January 11, 2024, outlines a method that could potentially revolutionize wheat farming by mitigating one of the most potent greenhouse gases.

NTwo Off's research focuses on the utilization of two naturally occurring bacteria species that have shown the ability to reduce N2O emissions from wheat roots under various environmental conditions. This discovery is part of the company's broader efforts to promote sustainable agriculture that is both environmentally responsible and economically viable.

The patented methodology is currently undergoing testing in greenhouse conditions to optimize the formula for reducing N2O emissions in wheat crops. NTwo Off plans to extend these tests to micro field plots with different soil types, dosages, and formulations to assess efficacy across a range of crops.

Nitrous oxide, often referred to as the "forgotten greenhouse gas," is 265 times more potent than carbon dioxide in its global warming potential, according to data from Our World in Data. NTwo Off's initiative could play a significant role in addressing the environmental challenges posed by agricultural practices.

Save Foods, Inc. operates through its subsidiaries, including Save Foods Ltd. which focuses on post-harvest treatments to extend the shelf life of fruits and vegetables, and Plantify Foods Inc., which offers a variety of clean-label, healthy food options.

This news is based on a press release statement.

InvestingPro Insights

As Save Foods, Inc. (NASDAQ: SVFD) embarks on a mission to transform agricultural practices through its innovative technology, investors may find the company's financial health and market performance to be of interest. With a market cap of approximately $4.88 million and a price/book ratio of 1.06 as of the last twelve months ending Q3 2023, Save Foods presents a snapshot of its current market valuation.

One of the notable InvestingPro Tips for SVFD highlights that analysts are expecting sales growth in the current year, which could be a positive indicator for future performance. This aligns with the company's proactive approach to addressing environmental issues in agriculture, potentially opening up new market opportunities. Additionally, the company's revenue growth of 6.25% in the same period provides a glimpse into its financial trajectory.

While the company's efforts are commendable, it's important for investors to consider that Save Foods is not currently profitable, having recorded an operating income margin of -1799.97% over the last twelve months as of Q3 2023. Furthermore, the stock has experienced significant volatility, with a one-week price total return of 9.99%, reflecting the dynamic nature of the market.

For those interested in deeper analysis and more InvestingPro Tips for Save Foods, Inc., there are additional insights available. A total of 13 tips can be found on InvestingPro, which can provide a more comprehensive understanding of the company's financial health and market potential. Investors can unlock these insights and benefit from an additional 10% off a yearly or biyearly Pro and Pro+ subscription by using the coupon code PRONEWS24.

Considering the company's strategic advancements in sustainable agriculture and the financial metrics highlighted, investors may find Save Foods to be an intriguing prospect, albeit with the need for cautious optimism given its current financial position.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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