Welcome to our dedicated page for N2OFF news (Ticker: NITO), a resource for investors and traders seeking the latest updates and insights on N2OFF stock.
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 Inc. (NASDAQ: NITO) has signed a binding term sheet with Solterra Energy for exclusive collaboration on renewable energy projects in Albania for one year, focusing on solar energy and battery storage. This follows a trilateral agreement between Italy, Albania, and UAE to develop renewable energy in Albania, valued at approximately €1 billion.
Under the agreement, both parties will present potential projects, with Solterra conducting feasibility analyses. Upon mutual approval, Solterra will handle project development, while N2OFF will oversee financing. The companies are already collaborating on projects in Germany and Italy:
- In Germany: Developing a 111 MWp solar PV project in Melz with secured municipal approval and grid connection
- In Italy: Developing two Battery Energy Storage Systems in Sicily (98 MWp/392 MWh each) with approved connection capacity from Terna SpA
N2OFF (NASDAQ: NITO) announced that its subsidiary Save Foods has won a patent opposition case filed by ECOLAB Inc. in Europe. The European patent EP2615932 covers a method of protecting edible matter using a specific performic acid composition, which is central to Save Foods' proprietary technology.
Save Foods' commercial solutions have demonstrated the ability to extend fresh produce shelf life while reducing hazardous pesticide usage by at least 50%. The European crop protection pesticides market was valued at $27.73 billion in 2021, with a projected value of $31.6 billion by 2026. ECOLAB has until April 9, 2025, to appeal the decision to the European Patent Register.
N2OFF (NASDAQ: NITO) announced significant progress in its collaborative solar photovoltaic project in Melz, Germany. The 111 MWp facility, developed with Solterra Renewable Energy, received approval from the Melz Municipal Committee for its statutory plan submission on January 2, 2025.
This milestone represents a important step toward achieving ready-to-build (RTB) status, expected by end of 2025. The project marks N2OFF's first venture into the renewable energy market and is part of a broader joint venture with Solterra to develop renewable energy facilities across Europe.
N2OFF continues providing financial support to Solterra, including a €470,000 loan installment as part of a total €2 million loan commitment.
N2OFF (NASDAQ: NITO) has received a 180-day extension from Nasdaq until July 7, 2025, to regain compliance with the minimum $1.00 bid price requirement. The company can meet compliance if its closing bid price stays at or above $1.00 for at least 10 consecutive trading days before the deadline.
The extension was granted based on N2OFF meeting continued listing requirements for market value of publicly held shares and other initial listing criteria, except for the bid price requirement. The company has expressed its intention to cure the deficiency, including the possibility of implementing a reverse stock split if necessary.
The notification does not immediately affect N2OFF's listing status, and its shares continue trading on the Nasdaq Capital Market under the symbol 'NITO'.
N2OFF (NASDAQ: NITO) has signed a binding LOI with Solterra Brand Services Italy (SBSI) to develop two Battery Storage (BESS) systems in Sicily, each with 98MWp/392MWh capacity. The agreement follows positive due diligence results and a non-binding term sheet from November 2024.
The total investment is set at up to €2.35 million, to be paid in milestones, with N2OFF securing approximately 70% ownership in the projects. The development is expected to take 18-24 months to reach Ready-to-Build stage.
The projects have received connection capacity approval from Terna SpA and align with Italy's MACSE scheme, which plans to conduct its first energy storage capacity auctions in the first half of 2025, offering 15-year contracts to support renewable energy transition.
N2OFF (NASDAQ: NITO) announced significant progress in its joint venture solar photovoltaic project with Solterra Renewable Energy in Melz, Germany. The Melz municipal committee approved the submission of the statutory plan for the 111 MWp solar PV facility on December 31st, 2024. This milestone brings the project closer to achieving ready-to-build (RTB) status, expected by the end of 2025.
The project represents N2OFF's first venture into the renewable energy market and is part of a broader joint venture with Solterra aimed at developing renewable energy facilities across Europe. N2OFF continues to provide financial support to Solterra, including a €470,000 loan installment as part of a total €2 million commitment.
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.
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