N2OFF INC. Enters the Growing Solar PV Market and signs an Agreement with a Company of Seasoned Experts in the Field
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.
N2OFF Inc. (NASDAQ: NITO) ha annunciato la sua espansione nel mercato del fotovoltaico (PV), collaborando con Solterra Renewable Energy. Questa mossa strategica mira a diversificare il portafoglio di N2OFF oltre le sue innovazioni in agri-tech. Solterra, fondata da esperti del settore Eran Litvak e Yair Harel, gestisce progetti di energia solare PV con una capacità cumulativa di circa 300 megawatt in Italia, Polonia e Germania.
N2OFF ha stipulato un accordo di prestito, impegnando €375.000 su un totale di €500.000 con Solterra. Questa collaborazione dovrebbe sfruttare il mercato in rapida crescita del fotovoltaico, previsto raggiungere $383,78 miliardi entro il 2032, con un tasso di crescita annuale composto (CAGR) del 9,90% dal 2023 al 2032.
N2OFF Inc. (NASDAQ: NITO) ha anunciado su expansión en el mercado de fotovoltaicos (PV), asociándose con Solterra Renewable Energy. Este movimiento estratégico busca diversificar el portafolio de N2OFF más allá de sus innovaciones en agri-tech. Solterra, fundada por los expertos de la industria Eran Litvak y Yair Harel, gestiona proyectos de energía solar PV con una capacidad acumulada de aproximadamente 300 megavatios en Italia, Polonia y Alemania.
N2OFF ha firmado un acuerdo de préstamo, comprometido a aportar €375,000 de un total de €500,000 a Solterra. Se espera que esta colaboración aproveche el creciente mercado solar PV, que se proyecta alcance $383.78 mil millones para 2032, con una Tasa de Crecimiento Anual Compuesta (CAGR) del 9.90% de 2023 a 2032.
N2OFF Inc. (NASDAQ: NITO)는 태양광(PV) 시장으로 확장한다고 발표하고, Solterra Renewable Energy와 협력합니다. 이 전략적 조치는 N2OFF의 포트폴리오를 농업 기술 혁신을 넘어 다각화하는 것을 목표로 합니다. Solterra는 업계 전문가 Eran Litvak과 Yair Harel이 설립하였으며, 이탈리아, 폴란드 및 독일에서 총 300메가와트의 용량을 가진 태양광 PV 프로젝트를 관리하고 있습니다.
N2OFF는 Solterra에 총 €500,000 중 €375,000를 약정하는 대출 계약을 체결하였습니다. 이 협력은 2023년부터 2032년까지 연평균 9.90%의 성장률(CAGR)로 2032년까지 $383.78억 달러에 도달할 것으로 예상되는 급성장하는 태양광 PV 시장을 활용할 것으로 보입니다.
N2OFF Inc. (NASDAQ: NITO) a annoncé son expansion sur le marché du photovoltaïque (PV), en s'associant à Solterra Renewable Energy. Ce mouvement stratégique vise à diversifier le portefeuille de N2OFF au-delà de ses innovations en agri-tech. Solterra, fondée par des experts de l'industrie Eran Litvak et Yair Harel, gère des projets solaires PV avec une capacité cumulative d'environ 300 mégawatts en Italie, en Pologne et en Allemagne.
N2OFF a signé un accord de prêt, s'engageant à verser 375 000 € sur un total de 500 000 € à Solterra. Cette collaboration devrait tirer parti du marché photovoltaïque en pleine expansion, qui devrait atteindre 383,78 milliards $ d'ici 2032, avec un taux de croissance annuel composé (CAGR) de 9,90 % de 2023 à 2032.
N2OFF Inc. (NASDAQ: NITO) hat seine Expansion in den Solar-Photovoltaik (PV)-Markt angekündigt und arbeitet dabei mit Solterra Renewable Energy zusammen. Dieser strategische Schritt zielt darauf ab, das Portfolio von N2OFF über seine Agri-Tech-Innovationen hinaus zu diversifizieren. Solterra, gegründet von den Branchenexperten Eran Litvak und Yair Harel, verwaltet Solar-PV-Projekte mit einer kumulierten Kapazität von etwa 300 Megawatt in Italien, Polen und Deutschland.
N2OFF hat einen Kreditvertrag unterzeichnet, indem es €375.000 von insgesamt €500.000 an Solterra verpflichtet. Diese Zusammenarbeit wird voraussichtlich in den schnell wachsenden Solar-PV-Markt eintauchen, der bis 2032 voraussichtlich $383,78 Milliarden erreichen wird, mit einer jährlichen Wachstumsrate (CAGR) von 9,90% von 2023 bis 2032.
- Expansion into the growing solar PV market, diversifying revenue streams
- Partnership with experienced solar PV experts through Solterra
- Access to a portfolio of solar projects with 300 megawatts cumulative capacity
- Entry into lucrative European markets: Italy, Poland, and Germany
- Potential for significant revenue growth in a market projected to reach $383.78 billion by 2032
- Financial commitment of €375,000 in loans to Solterra, increasing financial exposure
- Potential dilution of focus from core agri-tech business
- Entering a competitive market with established players
Insights
N2OFF's entry into the solar PV market represents a strategic diversification move that can significantly enhance the company's revenue streams. The solar PV market's impressive growth trajectory, with a projected CAGR of 9.90% and an estimated market size of USD 383.78 billion by 2032, offers a lucrative opportunity. This move aligns well with global trends towards renewable energy and sustainability, potentially providing N2OFF with a solid growth avenue. Moreover, partnering with Solterra, which has a proven track record and expertise in the solar sector, mitigates some entry risks typically associated with venturing into new markets. However, investors should watch for the financial impact of the €500,000 loan agreement, particularly the €375,000 commitment from N2OFF, on the company's balance sheet. The return on this investment will be important in determining the long-term benefits of this expansion.
The collaboration with Solterra Renewable Energy Ltd. provides N2OFF with a significant technological edge in the solar PV market. Solterra's portfolio, with its 300 megawatts of solar PV projects across Italy, Poland and Germany, underscores its capabilities and experience. The technological expertise and successful project completions by Solterra are likely to facilitate N2OFF's smooth entry and competitive stance in the solar PV sector. This partnership may also lead to technological innovations and efficiencies that could distinguish N2OFF in an increasingly competitive market. However, it will be important to monitor how well these two companies integrate their operations and leverage their combined expertise for mutual benefit.
Entering the solar PV market is a timely decision for N2OFF, particularly given the rising global emphasis on renewable energy sources. With a market expected to grow at nearly 10% annually, N2OFF positions itself strategically to capitalize on this trend. The collaboration with Solterra, an entity with significant experience and success in the solar PV domain, enhances N2OFF's market entry potential. Investors should appreciate the foresight in targeting high-growth markets like Italy, Poland and Germany, which are currently experiencing robust demand for renewable energy solutions. The long-term implications of this move could be substantial, potentially elevating N2OFF's market positioning and revenue stability. Nevertheless, the success of this venture will largely depend on effective execution and market dynamics, which should be closely monitored.
The global solar photovoltaic (PV) market was estimated at USD 150 billion in 2022 and is predicted to hit over USD 383.78 billion by 2032
Neve Yarak, Israel, July 22, 2024 (GLOBE NEWSWIRE) -- N2OFF, Inc.\ (NASDAQ: NITO) (FSE:80W) (“N2OFF”, or the “Company”), a clean- tech company offering sustainable solutions for various industries, announced today the expansion to the solar PV (photovoltaic) market, potentially proving investors lucrative assets alongside its innovation for the agri- tech market.
N2OFF partnered with Solterra Renewable Energy Ltd. (“Solterra”), a company founded in 2022 by Eran Litvak and Yair Harel, in the field of solar PV systems. Each of the founders is an expert in the field of solar PV, with a track record of dozens of successful projects. In addition, both are experienced entrepreneurs and managers with over 20 years of proven experience in identifying business opportunities, enhancing projects, and maximizing value in both the energy and financial sectors.
Solterra is currently active in three primary target markets: Italy, Poland, and Germany, managing a portfolio of at various stages of Solar PV development with a total cumulative capacity of approximately 300 megawatts.
“In recent months, we focused on the development of our subsidiary, NTWO OFF Ltd., which aims to reduce N₂O emissions using innovative bacterial technology for agriculture. In parallel, we identified what we believe is an attractive opportunity in the growing solar PV market. Our decision to enter this field was primarily driven by our collaboration with the experts from Solterra, who have experience in leading solar PV projects. The current loan agreement marks the beginning of a collaboration we believe could have great potential for profitability and revenue generation in future projects” David Palach, Chief Executive Officer of N2OFF.
According to Precedence Research, the global solar PV market was estimated at
N2OFF entered into a loan agreement with Solterra and certain other private investors pursuant to which they committed to loan Solterra an aggregate of
About N2OFF Inc:
N2OFF, Inc. (formerly known as Save Foods, Inc.) is a clean-tech company that through its three operational subsidiaries delivers integrated solutions for improved safety, quality, and sustainability from field to table. Save Foods Ltd., N2OFF's majority-owned Israeli subsidiary, focuses on post-harvest treatments in fruit and vegetables to control and prevent pathogen contamination, significantly reduce the use of hazardous chemicals, and prolong fresh produce’s shelf life. NTWO OFF Ltd., N2OFF's majority-owned Israeli subsidiary, seeks to contribute to 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 additionally holds 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 that are nutritious, gluten free, non-allergenic, use whole natural ingredients, and are easy to prepare. 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. 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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