N2OFF (NASDAQ: NITO) (FSE: 80W), a clean-tech company offering sustainable solutions for various industries, is entering the solar photovoltaic (“PV”) market. According to the announcement, N2OFF is collaborating with Solterra Renewable Energy Ltd. in the expansion. As part of the partnership, N2OFF entered into a €500,000 loan agreement with Solterra and certain other private investors; N2OFF committed €375,000 of that amount. According to the announcement, the global solar photovoltaic market totaled an estimated $150 billion in 2022 and is forecast to reach more than $383.78 billion by 2032. Solterra Renewable Energy was founded by solar PV experts Eran Litvak and Yair Harel, who are experienced entrepreneurs and managers with dozens of successful projects and more than two decades of proven experience in identifying business opportunities and maximizing value in the energy and financial sectors. Solterra is currently active in three markets: Italy, Poland and Germany. “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,” said N2OFF CEO David Palach in the press release. “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.”
To view the full press release, visit https://ibn.fm/cO3DH
About N2OFF Inc.
N2OFF (formerly known as Save Foods Inc.) is an agrifood tech company that through its three operational arms delivers integrated solutions for improved safety, quality and sustainability every step of the way from field to fork. Save Foods Ltd., N2OFF’s majority-owned Israeli subsidiary, focuses on post-harvest treatments in fruit and vegetables to control and prevent pathogen contamination, significantly reduce the use of hazardous chemicals and prolong fresh produce’s shelf life. NTWO OFF Ltd., N2OFF’s majority-owned Israeli subsidiary, contributes to tackling greenhouse-gas emissions, offering a pioneering solution to mitigate nitrous oxide (“N2O”) emissions, a potent greenhouse gas with 310 times the global warming impact of carbon dioxide. NTWO OFF aims to promote agricultural practices that are both environmentally friendly and economically viable. N2OFF also has a minority ownership in Plantify Foods Inc., a Canadian company listed on the TSX.V that offers a wide range of clean-label healthy food options that are nutritious, gluten free and nonallergenic and that use whole natural ingredients and are easy to prepare. For more information about the company, please visit www.N2OFF.com.
NOTE TO INVESTORS: The latest news and updates relating to N2OFF are available in the company’s newsroom at https://ibn.fm/NITO
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