N2OFF Provides Business Update on Successful Execution of Solar and Energy Storage Initiatives Across Europe
Neve Yarak, Israel, Sept. 18, 2025 (GLOBE NEWSWIRE) -- N2OFF, Inc. (NASDAQ:NITO) ("N2OFF" and the "Company"), a cleantech company investing in solar energy assets based on the RTB (Ready to Build) business model, recently announced significant progress in its solar and energy storage initiatives, highlighting the successful execution of key projects in Germany, Italy, and Poland. Through its strategic partnership with Solterra Renewable Energy Ltd. ("Solterra"), N2OFF is advancing a robust portfolio of renewable energy projects, reinforcing its commitment to driving the global clean energy transition.
Key Solar and Energy Storage Projects
- Melz Solar PV Project – Germany (111 MWp)
- Description: A flagship 115 MWp solar photovoltaic (PV) project in Melz, Germany, developed in collaboration with Solterra Renewable Energy Ltd.
- Current Status: The project achieved a critical milestone with approval from the Melz Municipal Committee for its statutory plan on December 31, 2024, following a comprehensive review of environmental and planning implications. The project has entered the hearing process, a final stage before achieving ready-to-build (RTB) status, targeted for 2026. Additionally, the project has secured grid connection through E.dis, the regional electricity operator. N2OFF and other lenders have recently provided funding to Solterra in the amount of €600,000 (see below for additional information) in addition to supporting the integration of a 107 MW/214 MWh "green" battery energy storage system (BESS), designed to optimize electricity sales and provide grid services.
- Future Potential The additional grid capacity could increase the project's scale by up to 10%, further boosting its economic and environmental impact.
- Sicily Battery Energy Storage Systems – Italy (2 x 98 MWp/392 MWh)
- Description: N2OFF holds 70% of two Battery Energy Storage Systems (BESS) projects in Sicily, Italy, each with a capacity of 98 MWp/392 MWh, developed by Solterra Brand Services Italy, a subsidiary of Solterra.
- Current Status: Both projects have secured connection capacity approval from Terna SpA, Italy's transmission system operator, marking a significant step toward development. The projects are in the development phase, with an expected timeline of 18–24 months to reach RTB status, projected for mid-2027.
- Future Timeline: The projects are in the development phase, with an expected timeline of 18–24 months to reach RTB status, projected for mid-2027.
Strategic Investments and Opportunities
N2OFF has committed significant resources to its renewable energy portfolio, including €600,000 in recent debt financing for the Melz BESS integration, with a 7% annual interest rate and a 25% profit-sharing agreement after loan repayment. The company's joint venture with Solterra, initiated in 2024, targets a total portfolio capacity of approximately 300 MW across Germany, Italy, with additional future projects in development across Europe.
"We are proud of the significant progress in our solar and energy storage projects, which demonstrate our commitment to sustainable innovation," said David Palach, CEO of N2OFF. "We believe that our strategic partnership with Solterra and targeted investments position us to capitalize on the growing demand for renewable energy, delivering long-term value to our stakeholders and the environment."
About N2OFF Inc:
N2OFF is a cleantech company mainly engaged in EU based solar assets using the RTB (Ready to Build ) business model. N2OFF is currently the lead investor in four solar projects in three different EU countries, all of which were introduced by Solterra Renewable Energy Ltd., a wholly owned subsidiary of Solterra Energy Ltd.
N2OFF also controls approximately 98% of Save Foods Ltd., an Israeli company focused on post-harvest treatments for fruits and vegetables, aiming to control and prevent pathogen contamination. For more information on Save Foods 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 Energy Ltd., 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 Efraty
[email protected]
