N2OFF's Save Foods Signs Letter of Intent With GENSIS to Support Sustainable Agriculture in Ethiopia

MT Newswires Live10-08

N2OFF (NITO) said Tuesday its Save Foods unit entered into a non-binding letter of intent with GENSIS PM to use its products in Ethiopia's large-scale farming sector.

Following a binding definitive agreement with GENSIS, the Ethiopian federal entity for pollution reduction and telnet development, Save Foods will provide support to the country's efforts to sustainable agricultural practices, increase crop yields, and ensure food safety.

Save Foods and the Ethiopian government will work together to set up a domestic manufacturing plant in Ethiopia, N2OFF Chief Executive David Palach said.

Financial terms were not disclosed.

Shares of N2OFF were down 1% in recent trading.

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