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N2OFF, Inc. (formerly known as Save Foods, Inc.) is a pioneering agri-food technology company dedicated to eco-crop protection. Their innovative solutions aim to reduce food waste and enhance food safety, ensuring the longevity and freshness of fruits and vegetables. The company specializes in developing, testing, and marketing products that extend the storability and shelf life of produce such as citrus fruits, sweet potatoes, and stored table potatoes through its subsidiary.
In addition to its core developments, N2OFF, Inc. has embarked on the commercialization of its products, making significant strides in the industry. Their products are designed to provide effective storage control, ensuring that fruits and vegetables remain fresh for longer periods. This advancement not only benefits consumers but also supports sustainable practices in the agriculture sector.
Geographically, N2OFF, Inc. generates most of its revenue from markets in the United States and Mexico. This strategic focus allows the company to tap into significant agricultural hubs and serve a broad customer base. Their efforts contribute to reducing food loss and promoting a more sustainable food supply chain.
Recently, South Africa was highlighted as the second largest exporter of citrus globally, with exports valued at $1.85 billion in 2022. This underscores the importance of effective crop protection solutions like those provided by N2OFF, Inc. in supporting global food supply chains.
For more information or investor inquiries, please contact Investor Relations via Michal Efraty at michal@efraty.com or call +972-(0)52-3044404.
N2OFF (NASDAQ: NITO) announced that its subsidiary Save Foods has entered into a strategic non-binding letter of intent (LOI) with GENSIS PM TDC, an Ethiopian Federal Agency, to implement Save Foods' eco-friendly solutions across Ethiopia's large-scale farming sector. The partnership aims to advance sustainable agricultural practices, enhance crop yields, and ensure food safety in Ethiopia.
If finalized into a binding agreement, the Ethiopian government will mandate large-scale farmers and exporters to adopt Save Foods' advanced post-harvest treatments. These treatments are designed to control pathogen contamination, extend fresh produce shelf life, and reduce harmful chemical usage. The company expects the definitive agreement to be executed within a month, potentially yielding dozens of millions of dollars in revenue.
The collaboration also includes plans to establish a local production facility in Ethiopia, ensuring nationwide accessibility of Save Foods' technologies and supporting the transition to sustainable farming practices.
N2OFF (NASDAQ: NITO) has announced strategic initiatives aimed at maximizing shareholder value. The company is considering a spin-off of its cleantech operations into a separate publicly traded company, while maintaining at least 75% ownership in Save Foods Additionally, N2OFF has entered into a non-binding LOI to acquire a drug discovery company with advanced computational capabilities, valued at a minimum of $5 million. The acquisition is expected to be completed through a combination of cash and equity.
Furthermore, N2OFF has secured a €6 million non-recourse credit facility with a 7% annual interest rate. The company plans to repay the loan from profits from pre-approved projects or 33% of proceeds from certain financing transactions. CEO David Palach expressed confidence that these strategic decisions will enhance N2OFF's position in the cleantech and pharmaceutical sectors, delivering long-term value to stockholders.
N2OFF Inc. (NASDAQ: NITO) has announced an update on its Solar PV Joint Venture Project with Solterra Renewable Energy in Meltz, Germany. Following approval for grid connection, Solterra's report indicates a 10% increase in capacity, exceeding initial expectations. This opens up two potential pathways to maximize value:
1. Increasing the project's capacity by up to 10%
2. Incorporating battery storage solutions
The current design requires a 97 MW grid connection for 111 MWp capacity, but the approved connection exceeds this by 10%. N2OFF and Solterra are examining both options to enhance efficiency and profitability. This increased capacity could potentially lead to a higher overall valuation of the project, even if not immediately pursued. CEO David Palach expressed excitement about the additional grid capacity's potential and commitment to maximizing the opportunity.
N2OFF, Inc. (NASDAQ: NITO) and Solterra Renewable Energy have made significant progress on their joint venture solar PV project in Melz, Germany. The companies recently submitted a statutory plan draft (B-PLAN) to the Melz municipality, marking a important step in the municipal approval process. The project has already secured approval for grid connection with a capacity of 97 MW, which exceeds the current design requirement by approximately 10%.
This excess capacity opens up two potential pathways to maximize value: increasing the project's capacity by up to 10% or incorporating battery storage solutions. The current project design aims to deliver an aggregate capacity of 111 MWp. N2OFF's CEO, David Palach, expressed satisfaction with Solterra's progress, highlighting their expertise in regulatory matters, infrastructure development, and partnership establishment.
N2OFF Inc. (NASDAQ: NITO) and Solterra Renewable Energy have announced potential enhancements to their Solar PV Joint Venture Project in Meltz, Germany. Following approval for grid connection, Solterra reported that the allocation is approximately 10% greater than initially anticipated. This excess capacity presents two potential pathways to maximize value:
1. Increasing the project's capacity by up to 10%
2. Incorporating battery storage solutions
The current project design requires a 97 MW grid connection to deliver an aggregate capacity of 111 MWp. Both companies are examining these options to enhance the project's efficiency and profitability. Even without immediate pursuit of these pathways, the increased capacity could potentially lead to a higher overall valuation if the project is sold.
N2OFF, Inc. (NASDAQ: NITO) announced a significant milestone in its joint venture with Solterra Renewable Energy The first solar PV project in Melz, Germany, has secured approval to connect to the regional power grid, demonstrating compliance with safety standards and alignment with project timelines. The project, approved by the municipality, is expected to provide a total capacity of 111 MWp.
Solterra's co-CEO, Eran Litvak, emphasized the importance of securing grid connection in today's environment, while N2OFF's CEO, David Palach, expressed satisfaction with the project's progress. Solterra manages a portfolio of Solar PV projects across Italy, Poland, and Germany, with a total cumulative capacity of approximately 300 megawatts.
N2OFF Inc (NASDAQ: NITO) has entered the EU PV market by investing in a 111 MW solar project in Melz, Germany. This move is part of an agreement with Solterra Renewable Energy to fund up to €8 million in solar PV projects. N2OFF and private investors will loan €2.08 million for the Melz project, which has received municipal approval and an indicative grid connection solution.
The company aims to create a reliable revenue stream by financing carefully selected projects. The global solar PV market is expected to grow from $150 billion in 2022 to over $383.78 billion by 2032, with a CAGR of 9.90%. N2OFF and investors will receive up to 50% of the net earnings from the project, with a 7% annual interest rate on the loan.
N2OFF Inc. (NASDAQ: NITO) announced plans to pursue food waste carbon credits using its subsidiary Save Foods 's patented treatment for extending fruit and vegetable shelf life. The company aims to monetize emission reductions by keeping food in the human supply chain, potentially qualifying for the Verra VM00046 methodology.
Save Foods engaged sustainability experts from Nibbana-Group to explore alternative revenue streams. The experts concluded that Save Foods may meet the conditions for food waste carbon credits. This methodology applies to projects reducing food loss and waste (FLW) at various stages of the food chain.
CEO David Palach stated that this approach could help farmers, packaging houses, and retailers reduce costs while potentially increasing revenues through carbon credits. N2OFF also plans to implement an inset strategy to monetize its technology for reducing N2O greenhouse gas emissions.
N2OFF, Inc. (NASDAQ: NITO) has entered into an agreement with Solterra Renewable Energy to fund up to €8 million for solar PV projects. The first project, located in Melz, Germany, has a capacity of 111 MWp and will receive €2.08 million in funding. The project has obtained municipal approval and an indicative solution for grid connection.
N2OFF and private investors will provide loans based on milestones, with 7% annual interest, gaining up to 50% rights to net earnings. The company aims to create a reliable revenue stream in the growing solar energy sector. Solterra plans to develop and sell the project at Ready-to-Build status, capitalizing on high market demand for such projects.
N2OFF Inc. (NASDAQ: NITO) has announced its expansion into the solar photovoltaic (PV) market, partnering with Solterra Renewable Energy This strategic move aims to diversify N2OFF's portfolio beyond its agri-tech innovations. Solterra, founded by industry experts Eran Litvak and Yair Harel, manages solar PV projects with a cumulative capacity of approximately 300 megawatts across Italy, Poland, and Germany.
N2OFF has entered a loan agreement, committing €375,000 out of a total €500,000 to Solterra. This collaboration is expected to tap into the rapidly growing solar PV market, projected to reach $383.78 billion by 2032, with a CAGR of 9.90% from 2023 to 2032.
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