Recently, N2OFF, Inc. (NASDAQ: NITO) (FSE:80W) (“N2OFF” or the “Company”), a leading clean-tech company known for its innovative sustainable solutions, announced a significant expansion into the solar photovoltaic (PV) market. This strategic move, in partnership with Solterra Renewable Energy Ltd. (“Solterra”), aims to provide investors with lucrative opportunities while continuing to innovate in the agri-tech sector.
Strategic Partnership with Solterra
N2OFF has partnered with Solterra, a company founded in 2022 by solar PV experts Eran Litvak and Yair Harel. Both founders boast extensive experience and a proven track record in managing successful solar PV projects. Their combined expertise spans over 20 years in identifying business opportunities, enhancing projects, and maximizing value within the energy and financial sectors.
Solterra is actively engaged in three primary target markets: Italy, Poland, and Germany. The company manages a diverse portfolio of solar PV projects at various development stages, with a total cumulative capacity of approximately 300 megawatts.
CEO’s Vision and Market Potential
David Palach, Chief Executive Officer of N2OFF, emphasized the dual focus of the company’s recent efforts. “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.”
According to Precedence Research, the global solar PV market was valued at $150 billion in 2022 and is projected to surpass $383.78 billion by 2032, growing at a compound annual growth rate (CAGR) of 9.90% from 2023 to 2032.
Financial Collaboration
N2OFF has entered into a loan agreement with Solterra and other private investors, committing an aggregate of €500,000, of which €375,000 was contributed by N2OFF. This financial collaboration underscores the company’s commitment to fostering sustainable energy solutions and expanding its portfolio in the renewable energy sector.
About N2OFF Inc.
Formerly known as Save Foods, Inc., N2OFF, Inc. is a clean-tech company dedicated to delivering integrated solutions that enhance safety, quality, and sustainability from field to table. The company operates through three subsidiaries:
- Save Foods Ltd. focuses on post-harvest treatments for fruits and vegetables, aiming to control and prevent pathogen contamination, reduce hazardous chemical use, and prolong the shelf life of fresh produce.
- NTWO OFF Ltd. is dedicated to reducing greenhouse gas emissions, particularly nitrous oxide (N₂O), which has a global warming potential 310 times greater than carbon dioxide. The subsidiary aims to promote environmentally friendly and economically viable agricultural practices.
- Plantify Foods, Inc. N2OFF holds a minority ownership in this Canadian company, which offers a variety of clean-label healthy food options that are nutritious, gluten-free, non-allergenic, and easy to prepare.
For more information on Save Foods Ltd. and NTWO OFF Ltd., visit www.n2off.com.
Whats next ?
N2OFF, Inc.’s strategic expansion into the solar PV market, in collaboration with Solterra Renewable Energy Ltd., marks a significant milestone in the company’s growth trajectory. This move not only diversifies N2OFF’s portfolio but also aligns with its mission to offer sustainable and innovative solutions across various industries. Investors and stakeholders can look forward to the potential profitability and revenue generation from this promising venture, as N2OFF continues to pave the way for a greener and more sustainable future.
