N2OFF Introduces a New Chapter with NITO Renewable Energy
N2OFF, Inc. (NASDAQ: NITO) has made a significant stride in its solar energy initiatives by establishing a new US-based subsidiary named NITO Renewable Energy, Inc. This subsidiary, operationally founded in Nevada, aims to oversee all current and future solar photovoltaic (PV) endeavors for N2OFF, consolidating their focus on innovative energy solutions.
Current Solar Projects in Europe
The company is actively engaged in three solar projects across Europe, signaling a robust commitment to expanding its renewable energy portfolio.
Germany: Developing a Key Solar Project
In Germany, N2OFF is advancing a substantial 111 MWp solar photovoltaic project located in Melz. This initiative has successfully gained municipal approval, alongside an indicative grid connection solution from a regional energy provider. Impressively, the approved grid connection capacity exceeds initial projections by roughly 10%, creating potential opportunities for enhancing the project’s capacity or incorporating battery storage options. At present, the project is making progress through its development phase.
Italy: Battery Energy Storage Developments
In Italy, N2OFF has partnered with Solterra’s subsidiary to finalize an agreement for developing two Battery Energy Storage Systems (BESS) situated in Sicily, each boasting a capacity of 98 MWp/392 MWh. The connection capacity approvals have been granted by Terna SpA, the national transmission operator. These projects are on an ambitious timeline, with expectations to reach a Ready-to-Build stage within 18 to 24 months.
Collaborative Efforts in Albania
Moreover, N2OFF is collaborating with Solterra Energy Ltd. to exclusively co-develop solar PV market opportunities in Albania, further strengthening its presence and impact in renewable energy across the region.
About N2OFF Inc.
N2OFF, Inc., formerly recognized as Save Foods, Inc., is a clean tech firm dedicated to offering sustainable energy solutions and innovations in agri-tech. The company delivers integrated solutions aimed at reducing greenhouse gas emissions and improving safety and quality within the agri-tech sector. Its majority-owned subsidiary, NTWO OFF Ltd., competently tackles the challenge of nitrous oxide (N2O) emissions—a greenhouse gas with a significantly higher global warming impact compared to carbon dioxide.
Additionally, N2OFF is venturing into the solar PV market, where it will allocate funding to Solterra Renewable Energy Ltd. for its present project, totaling a capacity of 111 MWp, alongside potential future initiatives. Their other majority-owned subsidiary, Save Foods Ltd., is focused on developing solutions to prevent pathogen contamination in fruits and vegetables following harvest.
N2OFF also holds a minority stake in Plantify Foods, Inc., a Canadian firm offering an extensive range of clean-label food products. For further information on Save Foods Ltd. and NTWO OFF Ltd., please visit our website at www.n2off.com.
Frequently Asked Questions
1. What is the purpose of the new subsidiary NITO Renewable Energy?
NITO Renewable Energy aims to consolidate and manage all of N2OFF’s current and future solar photovoltaic operations effectively.
2. Where are N2OFF's current projects located?
N2OFF is currently involved in solar projects in Germany and Italy, with additional collaborations in Albania.
3. What is the capacity of the solar project in Germany?
The solar project in Germany is designed for a capacity of 111 MWp, which exceeds initial grid connection requirements.
4. How much energy will the BESS projects in Italy produce?
Each Battery Energy Storage System (BESS) project in Italy has a capacity of 98 MWp/392 MWh, combining for a significant contribution to renewable energy storage.
5. How does N2OFF contribute to reducing greenhouse gas emissions?
N2OFF focuses on innovative agricultural practices and developing technologies aimed at mitigating nitrous oxide emissions, thus promoting sustainability and environmental responsibility.
