This new collaboration was driven by the successful fast tracking of joint projects in Germany and Italy follows the recently signed three-way clean energy cooperation agreement between Italy, Albania, and the United Arab Emirates
Neve Yarak, Israel, Jan. 23, 2025 — 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 today it has signed a binding term sheet with Solterra Energy Ltd. (“Solterra”) to collaborate exclusively on renewable energy projects in Albania for one year, focusing primarily on solar energy and battery storage. Under this agreement, The parties will look to present potential Projects, introduced through their local relationships, while Solterra will conduct feasibility analyses. If the analyses yield positive results and both parties approve, Solterra will handle project development, and Nito will oversee financing, either directly or through a financing partner.
Early this month, Italy, Albania, and the United Arab Emirates have entered into a trilateral agreement to develop renewable energy projects in Albania, focusing on solar and wind power. The UAE will leverage its expertise to produce clean energy in Albania, with a portion of the generated power transmitted to Italy via an underwater cable. Albanian Prime Minister, estimates the deal’s value at approximately €1 billion. Albania has been working to increase its renewable energy capacity, upping generation by around 500 MW in the last two years.
N2OFF Inc. and Solterra have initiated significant renewable energy projects in Germany and Italy. These collaborations underscore N2OFF and Solterra’s commitment to advancing renewable energy infrastructure in Europe.
Germany: The joint venture is developing a 111 MWp solar photovoltaic (PV) project in Melz, Germany. This project has secured municipal approval and an indicative grid connection solution from a regional energy service provider. Notably, the approved grid connection capacity exceeds initial requirements by approximately 10%, presenting opportunities to either increase the project’s capacity or integrate battery storage solutions. The project is currently progressing through the development phase.
Italy: N2OFF and Solterra’s subsidiary, Solterra Brand Services Italy, have signed a binding Letter of Intent to develop two Battery Energy Storage Systems (BESS) in Sicily, each with a capacity of 98 MWp/392 MWh. These projects have received approval for connection capacity from Terna SpA, Italy’s transmission system operator. Development is expected to take 18-24 months to reach a Ready-to-Build stage.
This collaboration is subject to several conditions, including mutual agreement on development and financing terms, corporate approvals, and compliance with applicable laws.
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. NTWO OFF Ltd., N2OFF’s majority-owned Israeli subsidiary, aims to contribute in 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 Ltd., aims to promote agricultural practices that are both environmentally friendly and economically viable. 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. N2OFF also has a minority ownership in Plantify Foods, Inc., a Canadian company listed on the TSXV that offers a wide range of clean-label healthy food options. For more information on Save Foods Ltd. and NTWO OFF Ltd. visit our website: www.n2off.com.