N2OFF Establishes a US Subsidiary for Its Solar PV Operations
N2OFF (NASDAQ: NITO) has established a new wholly-owned US subsidiary, NITO Renewable Energy, Inc., in Nevada to consolidate its Solar PV operations. The company currently manages three significant projects across Europe:
Germany Project: A 111 MWp solar PV joint venture in Melz has secured municipal approval and grid connection solution, with 10% additional capacity potential for expansion or battery storage integration.
Italian Projects: Two Battery Energy Storage Systems (BESS) in Sicily, each with 98 MWp/392 MWh capacity, have received connection approval from Terna SpA. Development timeline is estimated at 18-24 months to reach Ready-to-Build stage.
Additionally, N2OFF has partnered with Solterra Energy for exclusive co-development of Solar PV market in Albania.
N2OFF (NASDAQ: NITO) ha istituito una nuova controllata interamente posseduta negli Stati Uniti, NITO Renewable Energy, Inc., in Nevada per consolidare le sue operazioni nel settore del fotovoltaico. Attualmente, l'azienda gestisce tre progetti significativi in Europa:
Progetto in Germania: Un joint venture di impianti fotovoltaici da 111 MWp a Melz ha ottenuto l'approvazione municipale e una soluzione di connessione alla rete, con un potenziale di capacità aggiuntiva del 10% per espansione o integrazione di sistemi di accumulo di energia.
Progetti Italiani: Due Sistemi di Accumulo di Energia da Batteria (BESS) in Sicilia, ciascuno con una capacità di 98 MWp/392 MWh, hanno ricevuto l'approvazione per la connessione da Terna SpA. Il tempo di sviluppo è stimato in 18-24 mesi per raggiungere la fase di Pronto per la Costruzione.
Inoltre, N2OFF ha collaborato con Solterra Energy per lo sviluppo esclusivo del mercato fotovoltaico in Albania.
N2OFF (NASDAQ: NITO) ha establecido una nueva subsidiaria totalmente propiedad en EE. UU., NITO Renewable Energy, Inc., en Nevada para consolidar sus operaciones de energía solar fotovoltaica. Actualmente, la empresa gestiona tres proyectos significativos en Europa:
Proyecto en Alemania: Una empresa conjunta de energía solar fotovoltaica de 111 MWp en Melz ha obtenido la aprobación municipal y una solución de conexión a la red, con un potencial adicional del 10% para expansión o integración de almacenamiento de baterías.
Proyectos Italianos: Dos Sistemas de Almacenamiento de Energía en Batería (BESS) en Sicilia, cada uno con una capacidad de 98 MWp/392 MWh, han recibido la aprobación de conexión de Terna SpA. El cronograma de desarrollo se estima en 18-24 meses para alcanzar la etapa de Listo para Construir.
Además, N2OFF se ha asociado con Solterra Energy para el desarrollo exclusivo del mercado solar fotovoltaico en Albania.
N2OFF (NASDAQ: NITO)는 네바다에 있는 NITO Renewable Energy, Inc.라는 새로운 전액 출자 자회사를 설립하여 태양광 PV 운영을 통합했습니다. 현재 이 회사는 유럽 전역에서 세 가지 주요 프로젝트를 관리하고 있습니다:
독일 프로젝트: 멜츠에 위치한 111 MWp 태양광 PV 합작 투자는 지방 정부의 승인을 받았으며, 그리드 연결 솔루션을 확보했습니다. 추가로 10%의 용량 확장 또는 배터리 저장 통합 가능성이 있습니다.
이탈리아 프로젝트: 시칠리아에 있는 두 개의 배터리 에너지 저장 시스템(BESS)은 각각 98 MWp/392 MWh의 용량을 가지고 있으며, Terna SpA로부터 연결 승인을 받았습니다. 개발 일정은 건설 준비 단계에 도달하기까지 18-24개월로 예상됩니다.
또한, N2OFF는 알바니아의 태양광 PV 시장을 독점적으로 공동 개발하기 위해 Solterra Energy와 협력했습니다.
N2OFF (NASDAQ: NITO) a établi une nouvelle filiale entièrement détenue aux États-Unis, NITO Renewable Energy, Inc., dans le Nevada pour consolider ses opérations en énergie solaire photovoltaïque. L'entreprise gère actuellement trois projets significatifs en Europe :
Projet en Allemagne : Une coentreprise de panneaux solaires photovoltaïques de 111 MWp à Melz a obtenu l'approbation municipale et une solution de connexion au réseau, avec un potentiel de capacité supplémentaire de 10 % pour une expansion ou une intégration de stockage par batterie.
Projets italiens : Deux systèmes de stockage d'énergie par batterie (BESS) en Sicile, chacun avec une capacité de 98 MWp/392 MWh, ont reçu l'approbation de connexion de Terna SpA. Le calendrier de développement est estimé à 18-24 mois pour atteindre la phase Prêt à Construire.
De plus, N2OFF a établi un partenariat avec Solterra Energy pour le co-développement exclusif du marché photovoltaïque en Albanie.
N2OFF (NASDAQ: NITO) hat eine neue hundertprozentige Tochtergesellschaft in den USA, NITO Renewable Energy, Inc., in Nevada gegründet, um seine Solar-PV-Operationen zu konsolidieren. Das Unternehmen verwaltet derzeit drei bedeutende Projekte in Europa:
Projekt in Deutschland: Ein 111 MWp Solar-PV-Joint-Venture in Melz hat die kommunale Genehmigung und eine Lösung zur Netzanschluss gesichert, mit einem zusätzlichen Kapazitätspotenzial von 10% für Erweiterungen oder die Integration von Batteriespeichern.
Italienische Projekte: Zwei Batteriespeichersysteme (BESS) in Sizilien, jedes mit einer Kapazität von 98 MWp/392 MWh, haben die Genehmigung zur Anbindung von Terna SpA erhalten. Der Entwicklungszeitraum wird auf 18-24 Monate geschätzt, um die Baubereit-Phase zu erreichen.
Zusätzlich hat N2OFF eine Partnerschaft mit Solterra Energy für die exklusive Mitentwicklung des Solar-PV-Marktes in Albanien geschlossen.
- Established US subsidiary to consolidate solar operations
- 111 MWp German solar project secured municipal approval
- 10% additional grid capacity available for German project expansion
- Two 98 MWp/392 MWh BESS projects approved in Sicily
- Exclusive partnership for Albanian solar market development
- 18-24 month development timeline for Sicily projects indicates delayed revenue generation
The new entity, NITO Renewable Energy, Inc., to hold all current and future solar operations of the Company
Neve Yarak, Israel, March 03, 2025 (GLOBE NEWSWIRE) -- N2OFF, Inc. (NASDAQ: NITO) (FSE:80W) (“N2OFF” and the “Company”), a clean tech company engaged in sustainable solutions for energy and innovation for agri- tech, announced today the establishment of a new wholly-owned US subsidiary, NITO Renewable Energy, Inc., that is registered in Nevada. The new entity will focus and consolidate the Company’s current and future Solar PV activities.
The Company is currently invested in 3 projects in two countries in Europe.
Germany: The joint venture is developing a 111 MWp solar photovoltaic (PV) project in Melz, Germany. This project has secured municipal approval and an indicative grid connection solution from a regional energy service provider. Notably, the approved grid connection capacity exceeds initial requirements by approximately
Italy: N2OFF and Solterra's subsidiary, Solterra Brand Services Italy, closed a definitive agreement to develop two Battery Energy Storage Systems (BESS) in Sicily, each with a capacity of 98 MWp/392 MWh. These projects have received approval for connection capacity from Terna SpA, Italy's transmission system operator. Development is expected to take 18-24 months to reach a Ready-to-Build stage.
In addition, N2OFF and Solterra Energy Ltd. joined forces to exclusively co-develop the Solar PV market in Albania.
About N2OFF Inc:
N2OFF, Inc. (formerly known as Save Foods, Inc.) is a clean tech company engaged in sustainable solutions for energy and innovation for agri- tech. Through its operational activities it delivers integrated solutions for sustainable energy, greenhouse gas emissions reduction and safety, quality solutions for the agri- tech market. NTWO OFF Ltd., N2OFF's majority-owned Israeli subsidiary, aims to contribute in tackling greenhouse gas emissions, offering a pioneering solution to mitigate nitrous oxide (N2O) emissions, a potent greenhouse gas with 310 times the global warming impact of carbon dioxide. NTWO OFF Ltd., aims to promote agricultural practices that are both environmentally friendly and economically viable. N2OFF recently entered the solar PV market and will provide funding to Solterra Renewable Energy Ltd. for the current project in the total Capacity of 111 MWp, as well as potential future projects. Save Foods Ltd., N2OFF's majority-owned Israeli subsidiary, focuses on post-harvest treatments in fruit and vegetables to control and prevent pathogen contamination. N2OFF also has a minority ownership in Plantify Foods, Inc., a Canadian company listed on the TSXV that offers a wide range of clean-label healthy food options. For more information on Save Foods Ltd. and NTWO OFF Ltd. visit our website: www.n2off.com.
Forward-looking Statements:
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. Because such statements deal with future events and are based on our current expectations, they are subject to various risks and uncertainties including the success of our collaboration with Solterra, entry into future projects, our ability to successfully enter the solar PV sector, the profitability of such industry, and the potential added value of the increased capacity. Actual results, performance or achievements could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including market conditions as well as those discussed under the heading “Risk Factors” in N2OFF’s Registration Statement on Form S-1/A filed with the SEC on February 14, 2025, and in any subsequent filings with the SEC. Except as otherwise required by law, we undertake no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. We are not responsible for the contents of third-party websites.
Investor Relations Contact:
Michal Efraty
michal@efraty.com
FAQ
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