SVFD stock rose more than 11% in morning trading on January 27, 2022, after the company announced the results of its trial on preserving berries.
Save Foods Sets its Sights on the Berry Industry After Trial Shows Dramatic Reduction in Waste
On January 27, 2022, Save Foods (NASDAQ: SVFD) (FSE:80W), an Agri-Food Tech company specializing in eco crop protection that helps to reduce food waste and ensure food safety, is extending the range of applications of its eco crop protection treatment after successfully applying it to fresh berries in a recent trial. The results showed a significant reduction in produce waste while maintaining freshness over time.
While both healthy and popular with consumers, fresh berries present a significant problem for growers, packers, and retailers; they have a propensity for rapid bacterial growth, which leads to decay and waste. This translates to a very short shelf life, for example, around five days for raspberries, resulting in excessive waste at the retail and consumer levels.
As consumer demand and industry supply grows, the search for a solution to reduce waste in the fresh berry industry has intensified. Conventional methods for reducing waste and maintaining freshness include refrigeration, special packaging, and limiting supply to local markets. Maximizing the already substantial value in the berry industry relies in part on introducing new and unique methods. In 2020, the global berry and grape market was worth around US $826 billion and is expected to grow from 2022 to 2027 at a CAGR of 6.8% to approximately US $1,205 billion by 2026.
In the trial performed at Trabelsi farm Ltd (also doing business as “Mesheq 77”), raspberries treated with Save Foods’ product retained their freshness, color, and volume, compared to the industry standard, which became discolored and dehydrated in appearance (see image below). The trial exceeded the typical shelf life for berries, with ten days of cold storage and three more days at room temperature. As a result, Trabelsi farm had three times as many berries to sell and fresher-looking, longer-lasting produce.
Yinon Plesser, CEO of Trabelsi Farm Ltd, commented: “We found Save Foods’ products to be extremely easy to implement and saw positive results from the very first treatment. The raspberries retained their freshness, and there was an 80% reduction in waste. We envision that Save Foods’ treatment, by cutting down on waste and enriching the appearance of our berries, will help us penetrate new markets and grow our business globally.”
Dr. Neta Matis, COO of Save Foods’ Israeli subsidiary, Save Foods Ltd., noted: “This trial demonstrates that Save Foods’ treatment could have a transformative effect on the fresh berry industry. We have shown that our eco protection treatment helps solve two of the major problems in the industry: short shelf-life and a high level of waste and loss. We are looking forward to sharing our cost-effective, non-toxic treatment with growers worldwide and facilitating access to new opportunities.”
Save Foods is an Israel-based Agri-Food Tech company that addresses two of the most significant challenges in the fresh produce industry: food waste and loss and food safety. Save Foods is dedicated to delivering cost-effective, easy-to-implement solutions for improved safety, freshness and quality, every step of the way from field to fork. Collaborating closely with its customers, Save Foods develops technology that benefits the entire supply chain and improves both workers and consumers’ safety and quality of life. Save Foods’ initial applications are in post-harvest treatments in fruit and vegetable packing houses processing citrus, avocado, pears, bell peppers and mangos. By controlling and preventing pathogen contamination and significantly reducing the use of hazardous chemicals and their residues, Save Foods’ eco-products not only prolong the shelf life of fresh produce and reduce food loss and waste, but they also ensure a safe-to-consume end-product.
Save Foods Teams Up with Galilee Export, Israel’s Second Largest Exporter of Fresh Produce, to Fight Food Waste
On January 24, 2022, SAVE FOODS (NASDAQ: SVFD) (FSE: 80W) announced that, following a series of successful trials, Galilee Export will require all their bell pepper suppliers to apply Save Foods’ treatment.
Galilee Export is the second largest exporter of fruit and vegetables in Israel, with salesThe income statement provides a summary of a company's revenue and expenses over a specified period of time, typically a year or a quarter. It shows the company's total revenue, th... of over US$200 million a year. The initial plan is for Galilee Export to treat 100% of their bell peppers with Save Foods’ product, with avocados coming online shortly afterwards.
Dror Eigerman, CEO of Galilee Export and Advisory Board Member of Save Foods commented: “After several months of evaluating Save Foods’ treatment, my team and I are convinced of the benefits of these products. Not only do they reduce decay and prevent food waste, but they also improve the firmness of the peppers. These benefits will help us to offer our customers consistently high-quality produce with no chemical residues. We are excited to start working with Save Foods to extend our market reach to countries with stricter pesticide regulations and to treat other fruits and vegetables in the near future.
Dan Sztybel, CEO of Save Foods’ Israeli subsidiary, Save Foods Ltd., noted: “Our products address two 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, and maintaining quality and shelf life with significantly reduced pesticide levels. 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.”
Save Foods appoints Mia Serra as CMO
On January 12, 2022, Save Foods announced its Israeli subsidiary, Save Foods Ltd., has hired Mia Serra as its new Chief Marketing Officer. The addition of a marketing, IR & PR executive comes as Save Foods prepares to ramp up worldwide distribution of its product that dramatically reduces food waste and increases produce shelf life. Mia brings more than 15 years of marketing experience to Save Foods, where she will be in charge of brand strategy and all marketing communications. She will also be involved in the company’s investor and public relations programs, providing timely insights into the company’s progress and sharing important milestone with investors. Mia has extensive experience in B2C and B2B marketing, most recently as Senior Marketing Manager at MyHeritage and CMO of AgriTech company Tomgrow.
📺 Save Foods Inc. technology Targets Massive Food Safety and Preservation Market[embedyt] https://www.youtube.com/watch?v=MukIckMJ3aA[/embedyt]
📉 SVFD Stock Technical Analysis
Both the long and short-term trends are negative. It is better to avoid buying stocks with negative trends. Volume is considerably higher in the last couple of days. In combination with the strong move down this is a bad signal. Prices have been falling strongly lately, it is better to avoid new long positions here. SVFD is currently trading near the lower end of its 52-week range, which is not a good sign. SVFD is lagging the S&P500 Index which is trading in the middle of its 52-week range.
There is a support zone ranging from 3.61 to 3.63. This zone is formed by a combination of multiple trend lines in multiple time frames.
There is a resistance zone ranging from 5.00 to 5.07. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames. There is also resistance at 5.78 from a trend line in the weekly time frame. Finally, there is resistance at 7.06 from a trend line in the daily time frame.
SVFD has a poor technical rating and the quality of the setup is also only medium at the moment. SVFD stock has a Setup Rating of 4 out of 10. Prices have been consolidating lately. Click here to sign up for email alerts on when SVFD stock has a Setup Rating of 8 or higher.