N2OFF via Solterra Expands European Footprint with Entry into Fourth Project – a Battery Storage Venture in Poland
May 09 2025 - 7:45AM
N2OFF, Inc.(NASDAQ: NITO) (FSE:80W) (“N2OFF” and the “Company”), a
clean tech company engaged in sustainable solutions for energy and
innovation for agri- tech, announced Solterra’s entry into the
Polish renewable energy market by participating in the financing of
a Battery Energy Storage System (BESS) project in Poland.
The project, currently planned at 35MW/140MWh,
represents a significant step in expanding Solterra’s large-scale
energy storage solutions in the region. N2OFF, along with other
lenders, will assist with financing an initial payment under a
signed grid connection agreement. Future development plans include
applying for an increase in capacity to more than 100MW/400MWh.
This is Solterra’s fourth BESS development
project and Solterra is engaged in additional later stages projects
in Germany and Italy.
N2OFF is one of four parties providing financing
under a structured agreement, with the funds currently expected to
be repaid upon the sale of the project within a period of up to 30
months. In addition to the return of principal, each lender will be
entitled to a portion of the net profits based on their
participation. N2OFF’s share is 15% of the net profit realized from
the transaction.
“This entry into Poland aligns with our strategy
to expand into high-potential renewable energy project in different
markets,” said David Palach, CEO of N2OFF. “Grid-scale energy
storage is essential for enabling a stable, low-carbon energy
future, and we are proud to support the early-stage development of
such infrastructure.”
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 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. 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. 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 March 31, 2025, 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 Contact:Michal Efratymichal@efraty.com
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