N2OFF Inc. and Solterra Unlock New Potential for Capacity Expansion in Solar PV Project
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) ha annunciato un aggiornamento sul suo Progetto di Joint Venture Fotovoltaico con Solterra Renewable Energy a Meltz, Germania. Dopo l'approvazione per la connessione alla rete, il rapporto di Solterra indica un aumento della capacità del 10%, superando le aspettative iniziali. Questo apre due potenziali strade per massimizzare il valore:
1. Aumentare la capacità del progetto fino al 10%
2. Integrare soluzioni di stoccaggio con batterie
Il design attuale richiede una connessione alla rete di 97 MW per una capacità di 111 MWp, ma la connessione approvata supera questo valore del 10%. N2OFF e Solterra stanno esaminando entrambe le opzioni per migliorare l'efficienza e la redditività. Questa capacità aumentata potrebbe potenzialmente portare a una valutazione complessiva più elevata del progetto, anche se non perseguita immediatamente. Il CEO David Palach ha espresso entusiasmo riguardo al potenziale della capacità di rete aggiuntiva e l'impegno a massimizzare l'opportunità.
N2OFF Inc. (NASDAQ: NITO) ha anunciado una actualización sobre su Proyecto de Joint Venture de Energía Solar con Solterra Renewable Energy en Meltz, Alemania. Tras la aprobación de la conexión a la red, el informe de Solterra indica un aumento del 10% en la capacidad, superando las expectativas iniciales. Esto abre dos posibles vías para maximizar el valor:
1. Aumentar la capacidad del proyecto hasta un 10%
2. Incorporar soluciones de almacenamiento de batería
El diseño actual requiere una conexión a la red de 97 MW para una capacidad de 111 MWp, pero la conexión aprobada excede esto en un 10%. N2OFF y Solterra están examinando ambas opciones para mejorar la eficiencia y la rentabilidad. Esta capacidad aumentada podría llevar potencialmente a una valoración global más alta del proyecto, incluso si no se persigue de inmediato. El CEO David Palach expresó su entusiasmo por el potencial de la capacidad adicional de red y su compromiso de maximizar la oportunidad.
N2OFF Inc. (NASDAQ: NITO)는 독일 Meltz에서 Solterra Renewable Energy와의 태양광 공동 투자 프로젝트에 대한 업데이트를 발표했습니다. 그리드 연결 승인 이후, Solterra의 보고서는 10% 용량 증가를 나타내어 초기 기대치를 초과했습니다. 이는 가치를 극대화할 수 있는 두 가지 잠재적 경로를 열어줍니다:
1. 프로젝트의 용량을 최대 10%까지 증가시키기
2. 배터리 저장 솔루션 통합하기
현재 설계는 111 MWp 용량을 위한 97 MW 그리드 연결을 요구하지만, 승인된 연결은 이를 10% 초과합니다. N2OFF와 Solterra는 효율성과 수익성을 향상시키기 위해 두 가지 옵션을 검토하고 있습니다. 이 증가된 용량은 프로젝트의 전반적인 가치 평가를 높일 수 있는 잠재력을 가질 수 있으며, 즉시 추구하지 않더라도 가능합니다. CEO 데이비드 팔라치는 추가 그리드 용량의 잠재력에 대한 흥분을 표현하며 기회를 극대화하겠다는 의지를 밝혔습니다.
N2OFF Inc. (NASDAQ: NITO) a annoncé une mise à jour concernant son Projet de Joint Venture Photovoltaïque avec Solterra Renewable Energy à Meltz, en Allemagne. Suite à l'approbation de la connexion au réseau, le rapport de Solterra indique une augmentation de capacité de 10%, dépassant les attentes initiales. Cela ouvre deux voies potentielles pour maximiser la valeur :
1. Augmenter la capacité du projet jusqu'à 10%
2. Incorporer des solutions de stockage par batterie
La conception actuelle nécessite une connexion au réseau de 97 MW pour une capacité de 111 MWp, mais la connexion approuvée dépasse cela de 10%. N2OFF et Solterra examinent les deux options pour améliorer l'efficacité et la rentabilité. Cette capacité accrue pourrait potentiellement conduire à une évaluation globale plus élevée du projet, même si cela n'est pas poursuivi immédiatement. Le PDG David Palach a exprimé son enthousiasme pour le potentiel de la capacité de réseau supplémentaire et son engagement à maximiser cette opportunité.
N2OFF Inc. (NASDAQ: NITO) hat ein Update zu seinem Solar PV Joint Venture Projekt mit Solterra Renewable Energy in Meltz, Deutschland, bekannt gegeben. Nach der Genehmigung der Netzverbindung deutet der Bericht von Solterra auf eine 10%ige Kapazitätssteigerung hin, die die ursprünglichen Erwartungen übertrifft. Dies eröffnet zwei potenzielle Wege, um den Wert zu maximieren:
1. Erhöhung der Projektkapazität um bis zu 10%
2. Integration von Batteriespeicherlösungen
Das aktuelle Design verlangt eine Netzverbindung von 97 MW für 111 MWp Kapazität, aber die genehmigte Verbindung übersteigt dies um 10%. N2OFF und Solterra prüfen beide Optionen zur Verbesserung der Effizienz und Rentabilität. Diese gesteigerte Kapazität könnte potenziell zu einer höheren Gesamteinschätzung des Projekts führen, auch wenn dies nicht sofort verfolgt wird. CEO David Palach zeigte sich begeistert von dem Potenzial der zusätzlichen Netzkapazität und dem Engagement, die Möglichkeit zu maximieren.
- 10% increase in approved grid connection capacity
- Potential to increase project capacity by up to 10%
- Possibility to incorporate battery storage solutions
- Higher potential valuation of the project
- None.
Insights
The news of a potential 10% capacity increase in N2OFF's Solar PV Joint Venture Project with Solterra is moderately positive. This unexpected boost opens up two promising avenues for value enhancement:
- Expanding project capacity by up to 10%, potentially increasing energy output and revenue
- Incorporating battery storage solutions, which could improve grid stability and potentially unlock additional revenue streams
While the exact financial impact remains uncertain, the increased capacity undoubtedly adds value to the project. This could be particularly significant if N2OFF decides to sell the project, as the higher capacity would likely translate to a higher valuation. However, it's important to note that further examination is needed to determine the most profitable path forward.
For investors, this development signals potential for improved project economics and demonstrates N2OFF's commitment to maximizing value. The company's proactive approach in exploring these options is encouraging, though concrete financial benefits are yet to be quantified.
Solterra's review reveals a
Neve Yarak, Israel, Sept. 30, 2024 (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 the agri- tech, updated regarding its Solar PV Joint Venture Project with Solterra Renewable Energy Ltd. (“Solterra”). As announced on September 11, 2024, following receiving the required approval to connect to the power grid of a regional energy service provider in Meltz, Germany, Solterra sent the Company an additional report that indicates possible avenues to potentially increase the project’s value.
The current project design requires a grid connection of 97 MW to deliver an aggregate capacity of 111 MWp. The approved grid connection capacity exceeds such requirement by approximately
The Company and Solterra are currently examining both potential pathways in hopes of determining which could enhance the project's overall efficiency and profitability.
While further examination is required to assess the viability of these pathways and to determine which could be more profitable, we believe the increased capacity adds significant potential value to the project, even if these pathways are not immediately pursued. Such potential includes a higher overall valuation of the project in the event it is sold.
David Palach, N2OFF’s CEO, added "We are excited by the possible potential this additional grid capacity could provide. We are committed to exploring these options to increase the project value and will continue in our efforts to maximize this opportunity.”
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 the 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 Annual Report on Form 10-K filed with the SEC on April 1, 2024, 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 Contacts:
Michal Efraty
michal@efraty.com
FAQ
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