Seedo Corp. Enters Billion Dollar Saffron Market With Groundbreaking, Turnkey Solutions For Automated Growing of High-Quality Saffron All Year Round
TEL AVIV, Israel, Oct. 13, 2020 (GLOBE NEWSWIRE) -- Seedo Corp. (OTCQB: SEDO) is pleased to announce its new focus on the high-end niche of growing saffron, worth its weight in gold.
Seedo plans to roll out its proof of concept in the coming weeks. This technology will provide turnkey automated growing containers for high-quality, high-yield saffron all year round. Seedo is in advanced stages of developing and testing a fully automated and remotely managed system for growing high-quality, high-yield saffron anywhere and anytime.
Seedo’s technology offers a controlled environment based on the Company’s deep knowledge in plant biology. The technology provides optimal conditions for each stage of the plant’s development to reach optimal product quality.
Seedo’s proof of concept utilizes the "Grow Next to Consumer" policy and is therefore sustainable and fit the COVID-19 restrictions on transport. It is also environmentally friendly, using economic levels of water, space, fertilizer, and energy. Accounting to Seedo’s calculations, we believe that the controlled indoor growing area will 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 that is easy to control from anywhere. Seedo’s 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. Medicinal claims as an anti-depressant, antioxidant, and antiseptic are constantly increasing.
The global saffron market size was valued at USD 882 million in 2019 and is anticipated to attain a revenue based CAGR of 7.3% from 2020 to 2027. The market is expected to grow over the next few years on account of demand from the pharmaceutical sector, particularly in countries with rapid population expansion./p>
The current traditional way of growing saffron is labor intensive, manual, and costly. The production operations are complex with low yield and the plant itself is very sensitive to environmental conditions. It takes approximitely 1,000 flowers to produce just one ounce of saffron, which is why it is called the “red gold”. Saffron prices at wholesale and retail rates range from US$500 to US$5,000 per pound, or US$1,100 to 11,000/kg.
"We are going to revolutionize the way saffron is grown today in the world. Currently we have not identified any competing solutions to ours as all worldwide production is traditional and manual", said Dr. Gil Feiler, Seedo's Chairman of the Board. "Saffron is currently our key focus market, however our technology can be further utilized in other promising fields, such as other exotic plants, mushrooms, and more".
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.
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