Save Foods Announces the Formation of Nitrousink Ltd., its Newly-Formed Majority-Owned Subsidiary, Intent on Tackling Greenhouse Gas Emissions of Nitrous Oxide (N2O).
Neve Yarak, Israel, Sept. 07, 2023 (GLOBE NEWSWIRE) -- Save Foods, Inc. (NASDAQ: SVFD) (FSE:80W) (“Save Foods” or the “Company”), a sustainable agri-food tech company specializing in food waste and pesticide reduction, while tackling greenhouse gas emissions, announced today the formation of its majority-owned Israeli subsidiary, Nitrousink Ltd. (“Nitrousink”). As previously reported by the Company in its current reports on Form 8-K, filed with the Securities and Exchange Commission (the “SEC”) on July 12, 2023, July 28, 2023 and August 16, 2023, Save Foods executed a stock exchange agreement with Yaaran Investments Ltd., an Israeli company and Nitrousink, a newly formed Israeli company (the “Agreement”), which pursuant to the Agreement became a majority-owned subsidiary of the Company on August 29, 2023.
- Neve Yarak, Israel, Sept. 07, 2023 (GLOBE NEWSWIRE) -- Save Foods, Inc. (NASDAQ: SVFD) (FSE:80W) (“Save Foods” or the “Company”), a sustainable agri-food tech company specializing in food waste and pesticide reduction, while tackling greenhouse gas emissions, announced today the formation of its majority-owned Israeli subsidiary, Nitrousink Ltd. (“Nitrousink”).
- At the forefront of this joint effort is Nitrousink’s critical focus on nitrous oxide (N2O), a potent greenhouse gas with significant global warming ramifications as N2O emissions are 265 times greater than carbon dioxide (CO2).
- N2O emissions are paradoxically derived from human activities and have skyrocketed by 30% over the past four decades.
- I believe the collaboration with Nitrousink will represent a meaningful step forward in the global fight against climate change.