Seedo Corp. is the first to successfully double its annual production of saffron using its state-of-the-art vertical farming technology.
TEL AVIV, Israel, July 13, 2021 (GLOBE NEWSWIRE) — Seedo Corp. (OTCQB: SEDO), an agtech company that is developing the protocols to grow saffron using vertical farming technology, today announced that they have successfully harvested a second production of the spice known as red gold. Traditional farming yields only one crop of saffron annually. Seedo Corp’s vertical farming machinery and data science has allowed the company to double production and fully grow a second crop of the spice whose value is equal to gold. R&D efforts continue to see if they will be able to reach its goal to produce saffron three times annually.
“We believe that these developments demonstrate that we are well-positioned for significant growth for years to come,” says David Freidenberg, CEO of Seedo Corp. “The saffron market needs this modern solution to meet the increased demand in the culinary, pharmaceutical and nutraceutical markets. We are pleased that our R&D efforts continue to prove that we can scale up our business with increased annual yields.”
A portion of Seedo’s completed production of saffron has been delivered to its brand ambassador and 2-Michelin star chef Kiko Moya for culinary use. Seedo’s saffron was also featured in a television segment on Iran International where a saffron connoisseur reported that Seedo’s saffron tasted “exactly” like the saffron produced by traditional Iranian farmers.
Streamlining saffron’s supply chain and creating a large-scale and reliable production of the in-demand spice could help grow the existing billion-dollar saffron market. Despite the expensive cost, the demand for saffron is high and increasing annually with an anticipated revenue based CAGR of 5.99%. Seedo seeks to use its solution to make the spice more accessible to consumers and create business opportunities in sectors outside of the food industry.
Seedo Corp. (OTC: SEDO) is an agtech company that focuses on the research, development, and commercialization of agriculture products that are high in demand but are hindered by the low yields and specifications required by traditional farming. Seedo’s technology is 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 and dwindling earth reserves, diminishing water sources and unstable weather conditions.
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