Figma Shares Indicated To Open $105/$110
NEVE YARAK, Israel – N2OFF, Inc. (NASDAQ: NITO) (FSE:80W), a clean technology firm known for its sustainable energy solutions, has entered into an exclusive one-year collaboration with Solterra Energy Ltd. to develop renewable energy projects in Albania. According to InvestingPro data, the company appears undervalued based on its Fair Value analysis, with analysts forecasting 30% revenue growth this year. The focus will primarily be on solar energy and battery storage, according to an announcement made on January 23, 2025.
The partnership will leverage local relationships to identify potential projects, with Solterra responsible for conducting feasibility studies. Should these studies be favorable and both parties agree, Solterra will manage project development while N2OFF will oversee financing, either directly or via a financing partner. The company’s strong financial position, with no debt and a healthy current ratio of 6.52, positions it well for such investments.
This initiative aligns with a broader trilateral agreement signed in January 2025 among Italy, Albania, and the United Arab Emirates to augment renewable energy projects in Albania. The UAE plans to utilize its expertise to generate clean energy in Albania, with some power being transmitted to Italy through an underwater cable. Albanian Prime Minister has cited the deal’s value at around €1 billion.
Albania has increased its renewable energy capacity by about 500 MW in the last two years. N2OFF and Solterra have already embarked on significant renewable energy projects in Germany and Italy, highlighting their commitment to renewable energy infrastructure in Europe.
In Germany, the joint venture is developing a 111 MWp solar photovoltaic project in Melz, which has secured municipal approval and a grid connection solution exceeding initial requirements by about 10%. This surplus capacity allows for potential project expansion or the integration of battery storage solutions.
In Italy, N2OFF and Solterra’s subsidiary, Solterra Brand Services Italy, plan to develop two Battery Energy Storage Systems in Sicily, each with a 98 MWp/392 MWh capacity. These projects, which have received connection capacity approval from Terna (BIT:TRN) SpA, Italy’s transmission system operator, are expected to reach a Ready-to-Build stage within 18-24 months.
The completion of these collaborations is contingent upon mutual agreement on development and financing terms, corporate approvals, and adherence to applicable laws. This announcement is based on a press release statement. Despite recent market volatility, N2OFF’s stock has shown remarkable strength with a 190% gain over the past six months. InvestingPro subscribers have access to 11 additional key insights about N2OFF’s financial health and growth prospects.
In other recent news, N2OFF, Inc., an agricultural chemicals company, has regained compliance with Nasdaq’s minimum bid price requirement. The company was also granted an extension until July 7, 2025, to meet this requirement. In another development, N2OFF successfully defended a key European patent related to protecting edible produce, a victory for its subsidiary, Save Foods Ltd., in a dispute against ECOLAB Inc.
N2OFF has also announced a one-year exclusive collaboration with Solterra Energy Ltd. to develop renewable energy projects in Albania, with a focus on solar energy and battery storage initiatives. The partnership builds on their successful joint ventures in Germany and Italy.
In addition, N2OFF completed a private placement of equity securities, issuing new shares and warrants, generating gross proceeds of $1,500,000. The company believes the issuance of these securities is exempt from registration under Section 4(a)(2) of the Securities Act of 1933. These are recent developments that provide a glimpse into the company’s latest activities and achievements.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.