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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 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.
N2OFF (NASDAQ: NITO) announced a significant advancement in reducing nitrous oxide (N₂O) emissions with its innovative bacterial technology. Originally applied to wheat, this technology has now been successfully expanded to corn cultivation. The U.S. produced 389.7 million metric tons of corn in 2023-2024, representing about one-third of global production. The technology achieved a 40-50% reduction in N₂O emissions in controlled environments. CEO David Palach emphasized the technology's potential to address environmental challenges and promote sustainable agriculture. N₂O is a potent greenhouse gas with a global warming potential 310 times greater than CO₂. Reducing agricultural N₂O emissions is important for meeting global climate goals.
N2OFF, a leading agri-food tech company, announced that its subsidiary Save Foods received its first purchase order from a Peruvian customer, a major avocado grower, packer, and distributor.
This marks Save Foods' entry into the rapidly growing Peruvian agricultural export market, which expanded from $645 million in 2000 to an estimated $10.5 billion in 2023.
Save Foods’ eco-friendly solutions help control pathogen contamination and extend the shelf life of fresh produce while minimizing hazardous chemicals.
The purchase order follows the successful implementation of Save Foods’ products in January 2024, highlighting the significant potential for their solutions in the Latin American market.
N2OFF (NASDAQ: NITO), a leader in agri-food tech, has secured a patent approval in South Africa for its innovative sterilization compositions and methods. This patent aims to control pathogen loads on edible plant matter, reinforcing the company's dedication to global food safety and sustainability. South Africa, the world's second-largest citrus exporter, exported $1.85 billion in citrus in 2022, highlighting the significance of this achievement. CEO David Palach emphasizes that this patent is a important step in reducing food waste and ensuring food safety worldwide, expanding N2OFF's global influence.
NTWO OFF, Inc. (NASDAQ: NITO) achieved a significant milestone by reducing nitrous oxide (N2O) emissions in wheat crops by up to 54%, surpassing a previous study's reduction of 44%. The successful transition from growth chambers to open greenhouse environments showcased a 22% improvement. The company's proprietary bacteria technology proved effective in mitigating N2O emissions, highlighting its commitment to sustainable agriculture amidst climate change challenges.
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