N2OFF Inc. Advances Food Waste Reduction Initiatives
N2OFF Inc. to Pursue Food Waste Carbon Credit Verra VM00046 Methodology
Subsidiary’s treatment aims to help reduce pre & post-harvest food waste by extending shelf life of fruits and vegetables, and to potentially provide an alternative revenue stream by issuing carbon credits.
N2OFF, Inc. (NASDAQ: NITO) (FSE:80W) (“N2OFF” and the “Company”), a clean tech company engaged in sustainable solutions for energy and innovation for agri-tech, has announced plans to leverage its subsidiary, Save Foods Ltd.’s (“Save Foods”), patented treatment aimed at extending the shelf life of fruits and vegetables. This initiative will explore monetizing the quantification of emission reductions by maintaining food in the human supply chain.
If successful, the Company could be eligible for designated food waste carbon credits. Save Foods has enlisted sustainability strategy experts from the Nibbana-Group, led by Galit Kenigsberg, to identify pathways for alternative revenue streams linked to their patented treatment.
Verra VM00046 Methodology Overview
The analysis revealed that Save Foods may fulfill the criteria set forth in the Verra VM00046 methodology, which allows for the earning of various benefits, including food waste carbon credits. This methodology specifically targets project activities that actively work to reduce food loss and waste (FLW), as well as increase food availability for human consumption.
It encompasses different stages of the food supply chain—encompassing farms, food processing facilities, retailers, food services/hospitalities, and households—enabling organizations to be eligible for carbon credits through their efforts in food waste reduction.
CEO David Palach's Insight
David Palach, N2OFF’s CEO, expressed, “This methodology presents an opportunity for us to assist farmers, packaging houses, and retailers in reducing operational costs through extended shelf life while also exploring the potential for increased revenues through carbon credits associated with the use of Save Foods products. Furthermore, we are examining the Verra VM00046 methodology as it aligns with our strategic objectives. We also aim to implement our proprietary technology to minimize N2O greenhouse gas emissions.”
About N2OFF Inc.
N2OFF, Inc. (formerly known as Save Foods, Inc.) is committed to providing sustainable solutions in clean technology, specifically within the agri-tech sector. The company focuses on delivering integrated services for sustainable energy, reducing greenhouse gas emissions, and ensuring safety and quality within the agri-tech marketplace.
NTWO OFF Ltd., N2OFF’s majority-owned subsidiary based in Israel, specializes in solutions to combat greenhouse gas emissions, specifically mitigating nitrous oxide (N2O) emissions, known for significantly higher global warming impacts compared to carbon dioxide. N2OFF aims to foster environmentally responsible and economically feasible agricultural practices.
The company has recently entered the solar PV market and plans to fund projects, including a 111 MWp capacity initiative with Solterra Renewable Energy Ltd. Save Foods Ltd. focuses on post-harvest treatments in fruits and vegetables to prevent pathogen contamination. Furthermore, N2OFF holds a minority stake in Plantify Foods, Inc., which is recognized for its clean-label healthy food options.
For more information on Save Foods Ltd. and NTWO OFF Ltd., visit our website: www.n2off.com.
Frequently Asked Questions
What is the purpose of N2OFF's new initiative?
N2OFF is pursuing the Verra VM00046 methodology to monetize food waste reduction efforts through carbon credits, enhancing sustainability in agri-tech.
How will the methodology help reduce food waste?
The Verra VM00046 methodology supports reducing food loss and waste at various points in the supply chain and encourages keeping food in human consumption cycles.
Who is leading the sustainability strategy?
The sustainability strategy for Save Foods is being overseen by experts from the Nibbana-Group, led by Galit Kenigsberg.
What are the benefits of this methodology for farmers and retailers?
This methodology can help farmers and retailers cut costs associated with food spoilage while potentially earning revenues through carbon credits.
Is N2OFF exploring other sustainability technologies?
Yes, N2OFF plans to implement proprietary technology aimed at reducing N2O emissions and is actively engaging in various sustainable energy initiatives.
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