Save Foods Targeting US Carbon Credit Market with Majority Ownership in Newly- Formed Nitrousink Ltd.
Neve Yarak, Israel, Dec. 07, 2023 (GLOBE NEWSWIRE) -- Save Foods, Inc. (NASDAQ: SVFD), an agri-food tech leader, previously entered the carbon credit and greenhouse gas emissions markets, following its acquisition of a majority stake in the newly-formed Nitrousink Ltd.("Nitrousink") a research and development company using technologies developed at the Agricultural Research Organization - Volcani Institute (the “Volcani Institute”), under the leadership of Dr. Dror Minz, PhD in Environmental Microbiology, and the Director of the Institute of Soil, Water and Environmental Sciences at the Volcani Institute.
- Nitrousink's solution is based on active microorganisms which are completely natural (no GMO) and safe to humans, animals, plants and the environment.
- According to Global Market Insight , the Carbon Credit Market was valued at $87.9 billion in 2022 and is set to grow at a CAGR of 14.2% from 2023 to 2032.
- On a per-molecule basis, considered over a 100-year period, nitrous oxide has 265 times the atmospheric heat-trapping ability of carbon dioxide (CO2).
- In a novel discovery, Dr. Minz found these bacteria are naturally capable of reducing N2O emissions under various environmental conditions.