N2OFF (NASDAQ: NITO), through its subsidiary Save Foods, has entered into a non-binding letter of intent with GENSIS PM TDC, an Ethiopian Federal Agency. The LOI was announced Tuesday morning, and the agency seeks to utilize Save Foods’ innovative eco-friendly solutions across Ethiopia’s large-scale farming sector, potentially supporting the country’s efforts to develop sustainable agricultural practices, enhance crop yields, and ensure food safety.
David Palach, N2OFF’s CEO, believes the agreement could yield millions of dollars in revenues if consummated. “As part of the agreement, Save Foods and the Ethiopian government will collaborate on establishing a local production facility in Ethiopia. This move ensures that Save Foods’ technologies will be accessible throughout the country, thus further supporting the transition to sustainable farming practices. The aim is for the partnership to reach a nationwide rollout, eventually requiring all farmers in Ethiopia to utilize these solutions.”
Copyright © 2024 AllPennyStocks.com. All rights reserved. Republication or redistribution of AllPennyStocks.com’s content is expressly prohibited without the prior written consent of AllPennyStocks.com. AllPennyStocks.com shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.
View the original article on AllPennyStocks.com
]]>