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".

About Seedo

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.

[ Back To TMCnet.com's Homepage ]