TEL AVIV, Israel, Jan. 28, 2021 (GLOBE NEWSWIRE) -- Saffron Tech, an Israeli wholly owned subsidiary of Seedo Corp. (OTCQB: SEDO), announced its technology for automated, year-round saffron growing, is challenging the global Iranian monopoly on saffron supply of 90-95% of world demand, which has been in place for the past 1,000 years!
The reason Iran was the dominant player in supplying 90-95% of world demand for Saffron lies in the fact it has natural conditions fit for the growing and production of saffron in traditional, labor intensive methods.
Saffron Tech, from Seedo Corp., is developing a technology that hopes to provide turnkey automated growing solutions for high-quality, high-yield saffron all year round. The company is in advanced stages of developing and testing its automated vertical farm for saffron growing, based on the company’s knowledge in plant biology and providing optimal conditions for each stage of the plant’s development to reach optimal product quality.
Saffron Tech solutions are a perfect fit for "Grow Next to Consumer" and is sustainable and fit for COVID-19 restrictions on transport. It is environmentally friendly, using economic levels of water, space, fertilizer, and energy. We believe that our controlled indoor growing technology could produce ten times more yield compared to the same land area using traditional methods. The sealed environment eliminates the need for harmful pesticides and herbicides, producing a clean and safe product. The solution is easily scalable and pre-designed to quickly grow operations.
"Saffron is used in many industries, such as the food industry, particularly by famous chefs and Michelin starred restaurants, the natural cosmetics industry and the natural medicine industry and as a dye in the textile industry" said Mr. David Friedenberg, Saffron Tech CEO. "It is considered the 'Red Gold', worth its weight in gold. We are about to revolutionize the way saffron is grown, growing it all year round and anywhere with our indoors growing technology". https://youtu.be/cWnAFWGw50s
Seedo Corp. (OTC: SEDO), an agritech company, is focusing on its research, development, and commercialization of agriculture technology products in the fields of saffron, exotic plants and mushrooms. Seedo’s know-how and technology are aimed at transforming the way agriculture is done by offering a responsible and sustainable way to grow crops in a world confronted by environmental challenges of dwindling earth reserves, diminishing water resources and unstable weather conditions.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management’s current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause our future results, performance or achievements to differ significantly from that expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include risks relating to our ability to successfully execute a smooth transition of CFO functions as well as our ability to retain and recruit qualified executives; uncertainties related to, and failure to achieve, the potential benefits and success of our senior management team and organizational structure; our ability to successfully compete in the marketplace; our substantial indebtedness, which may limit our ability to incur additional indebtedness, engage in additional transactions or make new investments; compliance, regulatory and litigation matters; other financial and economic risks; and other factors discussed in our Quarterly Reports on Form 10-Q and in our Annual Report on Form 10-K, including in the sections captioned "Risk Factors” and “Forward Looking Statements.” Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to put undue reliance on these forward-looking statements.