The shares of Save Foods, Inc. (NASDAQ: SVFD) kept rising into Tuesday’s after-market trading. In the extended session, Save Foods’ shares had increased by 6.20% to $2.26. The SVFD stock increased 18.33% during the regular session to close at $2.13. The start of a green gas push linked with the increase in SVFD stock.
Save Foods (SVFD) has revealed that Nitrousink Ltd., a majority-owned subsidiary, has started a controlled study to evaluate its proposed method of lowering greenhouse gas emissions. The SVFD-subsidiary will concentrate on nitrous oxide (N2O), a strong greenhouse gas that contributes to ozone depletion, in that particular study.
Under the direction of Dr. Dror Minz, Nitrousink is a research and development firm that makes use of technology created by the Volcani Institute. As the head of the Agricultural Research Organization’s Volcani Institute’s Institute of Soil, Water, and Environmental Sciences, Dr. Minz is a renowned authority in environmental microbiology. Under his direction, Nitrousink hopes to use its cutting-edge technology to get into the market for sustainable agriculture.
The controlled study, which is being conducted in a greenhouse, is to look at a number of ways to maximize the efficiency of Nitrousink’s solution in lowering the emissions of the greenhouse gas N2O during wheat growth. After that, Nitrousink will assess how well its solution works in microplot fields with a range of soil types, doses, and formulations.
In addition, Nitrousink seeks to find and characterize other microbes that have the ability to reduce N2O emissions. The size of the worldwide wheat seed market was estimated by The International Market Analysis Research and Consulting Group (IMARC Group) to be US$ 5.3 billion in 2023. The IMARC Group projects that the market will expand at a compound annual growth rate (CAGR) of 3.84% from 2024 to 2032, reaching US$ 7.6 billion.
Save Foods has earlier said that it will be joining the carbon credit and greenhouse gas emissions markets after acquiring sixty percent of the newly established Nitrousink.
