Hello Everyone,
We hope that you have been watching NITO.
We sent you a few emails and texts regarding the company in the last 16 hours or so.
The company released news this morning that contributed to it running all the way to .63 before pulling back.
We are going to continue to watch this one and keep you updated.
N2OFF, INC. Entered into an Agreement to Fund up to € 8 million for 50% Rights in Several Solar PV Projects to be Developed by Solterra Renewable Energy Ltd.
First PV project in a capacity of 111 MW, received a municipal approval as well as an indicative solution for grid connection by a large regional energy service provider in Germany
Neve Yarak, Israel, July 31, 2024 (GLOBE NEWSWIRE) -- N2OFF, Inc.\ (NASDAQ: NITO) (FSE:80W) (“N2OFF” and the “Company”), a clean tech company engaged in sustainable solutions for energy and innovation for the agri- tech, announced today that together with a number of private investors (the “Investors”), it entered into an agreement with Solterra Renewable Energy Ltd. (“Solterra”), to fund up to €8 million solar PV (photovoltaic) projects. The first project which was agreed upon is planned in Melz, Germany, with a total Capacity of 111 MWp (Megawatt peak) for which the Company and Investors will loan an aggregate amount of €2.08 million.
Yair Harel, Solterra’s CEO, commented, “Our goal is to fully develop the Melz project and sell it at Ready-to-Build (RTB) status. We see high demand in today’s markets for RTB projects from multiple types of investors. Our cooperation with N2OFF will allow us to bring multiple projects to fruition, extracting substantial value from these projects for the benefit of both companies’ investors.”
David Palach, N2OFF’s CEO, added “We are pleased to announce our entry in the solar energy sector with our first project. Our goal is to create a reliable revenue stream by financing projects carefully selected by the Solterra team, our experts in the field. Based on recent market trends, we expect the global demand for alternative energy solutions to continue growing annually, as awareness of the need to create environmentally friendly solutions to help preserve our planet increases. We believe this to be a contributing factor to the attractive profit margins in this sector. Subject to the right of first refusal granted to us, we look forward to analyzing and investing in future projects.”
The project has been approved by the municipality of Melz and additionally received attention for a potential grid connection by a large regional energy service provider in Germany.
Solterra was founded in 2022 by Eran Litvak and Yair Harel, in the field of renewable energy. Each of the founders is a veteran in the energy sector, with a track record of dozens of successful projects. In addition, both founders are experienced entrepreneurs and managers with over 20 years of proven experience in identifying business opportunities, enhancing projects, and maximizing value in both the energy and financial sectors.
Solterra is currently active in three primary target markets: Italy, Poland, and Germany, managing a portfolio of at various stages of Solar PV development with a total cumulative capacity of approximately 300 megawatts. According to Precedence Research, the global solar PV market was estimated at $150 billion in 2022 and is predicted to hit over $383.78 billion by 2032 and poised to grow at a CAGR of 9.90% during the forecast period from 2023 to 2032.
Pursuant to the Agreement, N2OFF and the Investors will finance the project up to an aggregate of $2.2 million (approximately 2 million Euro) in order to assist the project in reaching its goal of obtaining RTB status. The loan will be given based on accomplished milestones, with an accrued interest at a rate of 7% per annum, and provide the Company and Investors with up to 50% of the rights to the net earnings. Furthermore, the Agreement also contemplates for a right of refusal in favor of the company and the Investors, for additional project investments of up to 6 million Euro.
READ THE FULL REPORT HERE: https://www.insiderfinancial.com/profile/nito-2
Sincerely,
DISCLAIMER
THIS WEBSITE/NEWSLETTER IS A PUBLICATION OF ONE22 MEDIA, LLC, HEREIN REFERRED TO AS O22. O22’S REPORTS/RELEASES ARE A COMMERCIAL ADVERTISEMENT AND ARE FOR GENERAL INFORMATIONAL PURPOSES ONLY.O22 IS ENGAGED IN THE BUSINESS OF MARKETING AND ADVERTISING COMPANIES FOR MONETARY COMPENSATION.
O22 HAS BEEN COMPENSATED A FEE OF SEVEN THOUSAND FIVE HUNDRD USD BY A THIRD PARTY, LFG EQUITIES CORP FOR A ONE DAY NITO PROFILE. O22 HAS PREVIOUSLY BEEN COMPENSATED A FEE OF NINE THOUSAND USD BY A THIRD PARTY, SHORE THING MEDIA, LLC FOR A ONE DAY NITO PROFILE.
BY SUBSCRIBING TO OR OTHERWISE USING THIS WEBSITE/NEWSLETTER, YOU AGREE TO HOLD O22 AND ITS OPERATORS, OWNERS, AND EMPLOYEES HARMLESS AND TO COMPLETELY RELEASE THEM FROM ANY AND ALL LIABILITY DUE TO ANY AND ALL LOSS, DAMAGE, OR INJURY THAT YOU MAY INCUR, MONETARY OR OTHERWISE.
INVESTING IN MICRO-CAP AND GROWTH SECURITIES IS HIGHLY SPECULATIVE AND CARRIES AN EXTREMELY HIGH DEGREE OF RISK. NEVER INVEST IN ANY STOCK FEATURED ON O22’S SITE OR NEWSLETTER UNLESS YOU CAN AFFORD TO LOSE YOUR ENTIRE INVESTMENT. THE DISCLAIMER IS TO BE READ AND FULLY UNDERSTOOD BEFORE USING O22’S SERVICES, JOINING O22’S SITE OR EMAIL/BLOG LIST, OR FOLLOWING ANY SOCIAL NETWORKING PLATFORMS O22 MAY USE.
PLEASE NOTE WELL: O22 IS NOT A REGISTERED INVESTMENT ADVISOR, BROKER DEALER OR A MEMBER OF ANY ASSOCIATION FOR OTHER RESEARCH PROVIDERS IN ANY JURISDICTION WHATSOEVER. O22 IS NOT AFFILIATED WITH ANY EXCHANGE, ELECTRONIC QUOTATION SYSTEM, THE SECURITIES AND EXCHANGE COMMISSION, OR FINRA. NONE OF THE MATERIALS OR ADVERTISEMENTS HEREIN CONSTITUTE OFFERS OR SOLICITATIONS TO PURCHASE OR SELL SECURITIES OF THE COMPANIES PROFILED.
THE INFORMATION CONTAINED HEREIN IS BASED ON INFORMATION SUPPLIED BY THE COMPANIES PROFILED, PUBLICLY AVAILABLE INFORMATION, PRESS RELEASES, AND OTHER SOURCES WHICH O22 BELIEVES TO BE RELIABLE, BUT IS NOT GUARANTEED BY O22 AS BEING ACCURATE AND DOES NOT PURPORT TO BE A COMPLETE STATEMENT OR SUMMARY OF THE AVAILABLE DATA. O22 IS NOT RESPONSIBLE FOR ANY CLAIMS MADE BY THE COMPANIES PROFILED. INVESTORS SHOULD NOT RELY ON THE INFORMATION CONTAINED IN THIS WEBSITE/NEWSLETTER IN DECIDING TO INVEST OR MAKE OTHER FINANCIAL DECISIONS. RATHER, INVESTORS SHOULD USE THE INFORMATION CONTAINED IN THIS WEBSITE/NEWSLETTER AS A STARTING POINT FOR DOING ADDITIONAL INDEPENDENT RESEARCH ON THE FEATURED COMPANIES. O22 STRONGLY ENCOURAGES READERS AND INVESTORS TO CONDUCT A COMPLETE AND INDEPENDENT INVESTIGATION OF THE RESPECTIVE COMPANIES, INCLUDING BY REVIEWING SEC FILINGS (FORMS 10-Q, 10-K, 8-K, 3, 4, 5, SCHEDULE 13D) AND BY CONSULTING YOUR OWN TAX, BUSINESS, FINANCIAL, AND INVESTMENT ADVISORS.
THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 PROVIDES A SAFE HARBOR IN REGARD TO FORWARD-LOOKING STATEMENTS. ANY STATEMENTS THAT EXPRESS OR INVOLVE DISCUSSIONS WITH RESPECT TO PREDICTIONS, EXPECTATIONS, BELIEFS, PLANS, PROJECTIONS, OBJECTIVES, GOALS, ASSUMPTIONS OR FUTURE EVENTS OR PERFORMANCE ARE NOT STATEMENTS OF HISTORICAL FACT, AND MAY BE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON EXPECTATIONS, ESTIMATES, AND PROJECTIONS AT THE TIME THE STATEMENTS ARE MADE THAT INVOLVE A NUMBER OF RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS OR EVENTS TO DIFFER MATERIALLY FROM THOSE PRESENTLY ANTICIPATED. FORWARD-LOOKING STATEMENTS MAY BE IDENTIFIED THROUGH USE OF WORDS SUCH AS PROJECTS, FORESEES, EXPECTS, ANTICIPATES, ESTIMATES, BELIEVES, UNDERSTANDS, MAY, COULD, OR MIGHT. THERE IS NO GUARANTEE THAT PAST PERFORMANCE WILL BE INDICATIVE OF FUTURE RESULTS.
Insider Financial
1337 Mass. AveBox 211
Arlington, MA 02476
No comments:
Post a Comment