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MELZ, GERMANY - N2OFF Inc. (NASDAQ: NITO) (FSE:80W), a micro-cap clean technology and agri-tech company with a market capitalization of $3.79 million, has announced its intention to invest an additional €25,000 in a battery energy storage system (BESS) project in Melz, Germany. According to InvestingPro data, the company maintains a strong liquidity position with a current ratio of 3.82, indicating sufficient resources to meet its short-term obligations. This follows the recent approval of a new German regulation, Section 8a of the Renewable Energy Sources Act (EEG), which permits the expanded use of grid infrastructure for renewable energy projects.
The proposed BESS facility, which N2OFF plans to co-locate with a 111 MWp solar power plant under development, is expected to have a capacity between 60 and 80 MW / 240 to 360 MWh. This initiative is designed to optimize grid efficiency and reduce infrastructure costs by leveraging the new regulation that allows additional assets like battery storage to connect to existing grid connections without exceeding approved capacity.
N2OFF's investment aims to enhance grid stability and the integration of renewable energy by providing storage and time-shifted delivery of solar power, which could improve local grid resilience and renewable energy utilization. While the company believes that the Melz BESS project will deliver significant benefits in terms of grid efficiency and regulatory certainty, InvestingPro analysis reveals the company faces financial challenges with an EBITDA of -$4.3 million in the last twelve months. InvestingPro subscribers have access to 10+ additional insights about N2OFF's financial health and growth prospects.
Earlier this year, N2OFF and its partner Solterra Renewable Energy Ltd. entered into a definitive agreement for the acquisition and commercialization of two large-scale battery storage systems in Sicily, Italy, with a total capacity of 196 MWp / 784 MWh. The collaboration between the two companies extends to joint development activities, including two BESS in Sicily and an exclusive agreement to co-develop solar photovoltaic (PV) projects in Albania.
Solterra Renewable Energy, founded in 2022, specializes in initiating and developing solar PV projects with a focus on rapid commercialization. The Melz project is a key part of Solterra's portfolio, which aims to create renewable energy facilities with a total capacity of approximately 300 MW across Germany, Italy, and Poland.
N2OFF, formerly known as Save Foods, Inc., is actively engaged in providing sustainable energy solutions and reducing greenhouse gas emissions. Its majority-owned Israeli subsidiary, NTWO OFF Ltd., offers a solution to mitigate nitrous oxide emissions, while Save Foods Ltd. focuses on post-harvest treatments to control pathogen contamination in fruits and vegetables. The company's transition comes amid challenging market conditions, with InvestingPro data showing a significant revenue decline of 20.15% and a stock price decline of over 81% in the past year. For comprehensive analysis of N2OFF's financial metrics and future outlook, investors can access detailed reports and real-time updates through InvestingPro.
The information in this article is based on a press release statement and contains forward-looking statements subject to risks and uncertainties. N2OFF has filed its Annual Report on Form 10-K with the SEC on March 31, 2025, which includes further details on potential risks and uncertainties.
In other recent news, N2OFF, Inc. has reported several noteworthy developments. The company received a notification from Nasdaq about non-compliance with the minimum bid price rule, as its stock price has closed below $1.00 per share for 30 consecutive business days. N2OFF has been given until September 24, 2025, to regain compliance. Additionally, N2OFF has amended its investment agreement to increase the ownership cap for certain investors from 4.99% to 9.99%, allowing a larger stake without triggering mandatory disclosure requirements.
Furthermore, N2OFF has extended a $250,000 loan to MitoCareX Bio Ltd., with the possibility of MitoCareX becoming a wholly owned subsidiary pending shareholder approval. In a related transaction, SciSparc Ltd. has agreed to sell its stake in MitoCareX to N2OFF for $700,000 and a stock swap, which will result in MitoCareX becoming a subsidiary of N2OFF. Additionally, N2OFF has launched a new subsidiary, NITO Renewable Energy, Inc., to focus on solar energy projects in Europe, including ventures in Germany and Italy. These recent developments underscore N2OFF's ongoing strategic activities in the financial and renewable energy sectors.
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