N2OFF subsidiary wins key European patent dispute By Investing.com

NEVE YARAK, Israel – N2OFF, Inc. (NASDAQ: NITO) (FSE: 80W), a clean technology company focused on energy and agricultural technology solutions with a market capitalization of $13.7 million, today announced that its subsidiary Save Foods Ltd. , has successfully defended its European patent against opposition from ECOLAB Inc InvestingPro Data showed the company’s shares experienced significant volatility, with a year-to-date return of 383% despite a recent weekly decline of 35%. The controversial patent EP2615932 refers to a method of protecting edible products using a specific performic acid composition, which is crucial to Save Foods’ technology.

The European Patent Office’s decision in favor of Save Foods could have a significant impact on the company’s operations and market positioning. This technology is part of Save Foods’ commercial offerings, which are claimed to reduce pesticide use in fresh produce by at least 50% and extend shelf life, in line with the European Union’s regulatory goals to reduce pesticide use in agriculture.

David Palach, CEO of N2OFF and board member of Save Foods, expressed confidence that this legal victory will strengthen the company’s negotiations with global partners and demonstrate the uniqueness of its technology. He also emphasized the alignment of their solutions with EU agricultural policy.

Save Foods’ solutions are designed to improve safety and freshness from production to consumption, with initial applications in post-harvest treatment of fruits and vegetables such as citrus, avocados, pears, apples and mangoes. By controlling pathogen contamination and reducing chemical use, the company aims to deliver safer, natural products while addressing food waste concerns.

N2OFF, formerly known as Save Foods, Inc., has diversified interests including a majority-owned subsidiary, NTWO OFF Ltd., focused on reducing nitrous oxide emissions in agriculture, and a minority interest in Plantify Foods, Inc., a Canadian company company that offers clean label food products.

ECOLAB Inc. reserves the right to appeal the decision until April 9, 2025. The European crop protection pesticide market was valued at $27.73 billion in 2021, with forecasts rising to $31.6 billion by 2026, indicating a significant market opportunity for Save Foods’ technology.

This announcement is based on a press release and the forward-looking statements contained herein are subject to various risks, uncertainties and possible changes in market conditions. InvestingPro The analysis shows that the company has a strong financial position, with a current ratio of 6.52 and zero debt, although it continued to be unprofitable over the last twelve months. Investors seeking deeper insights into N2OFF’s financial health and growth prospects can access additional ProTips and comprehensive metrics through an InvestingPro subscription.

In other recent news, N2OFF, Inc. has reported notable progress in its operations. The clean technology company recently secured approximately $1.5 million in gross proceeds from a private placement and settled outstanding debt by acquiring a majority stake in Plantify Foods, Inc. Additionally, the company has made advances in renewable energy and received important approvals from the Melz municipal committee for its solar photovoltaic project in Germany.

N2OFF has also expanded its reach into the European energy storage market through a strategic partnership with Solterra Ltd. subsidiary. in Italy, which includes the purchase and development of two large battery storage systems in Sicily. The company was also given an additional 180 days to comply with the Nasdaq minimum offering price requirements. This demonstrated that the company complied with the market value of publicly held shares and all other standards for initial listing on the Nasdaq Capital Market.

Analysts at InvestingPro forecast sales growth of around 31% for N2OFF this year. These are current developments and are subject to change.

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