N2OFF's New Subsidiary: A Strategic Pivot into Solar PV

N2OFF, Inc. (NASDAQ: NITO) (FSE:80W), a clean tech company with a diverse portfolio of sustainable solutions, has announced the establishment of a new wholly-owned US subsidiary, NITO Renewable Energy, Inc. This strategic move signals the company's commitment to expanding its presence in the solar photovoltaic (PV) market and consolidating its current and future solar PV activities under a single entity. The new subsidiary, registered in Nevada, will focus on developing and managing the Company's solar PV projects, with a particular emphasis on three key initiatives in Europe.



Germany: Melz Solar PV Project

N2OFF's joint venture in Germany is developing a 111 MWp solar photovoltaic project in Melz, which 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. This project is currently progressing through the development phase, with N2OFF and its partner, Solterra Renewable Energy Ltd., exploring potential pathways to maximize its value.

Italy: Battery Energy Storage Systems (BESS) in Sicily

N2OFF and Solterra's subsidiary, Solterra Brand Services Italy, have closed a definitive agreement 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, and are expected to reach a Ready-to-Build stage within 18-24 months. The development of these BESS projects aligns with N2OFF's commitment to promoting innovative energy solutions and enhancing the overall efficiency of its renewable energy portfolio.

Albania: Solar PV Market Co-development

N2OFF and Solterra Energy Ltd. have joined forces to exclusively co-develop the Solar PV market in Albania. This strategic partnership enables N2OFF to expand its reach into new markets and tap into the growing demand for clean energy solutions. By collaborating with Solterra, N2OFF gains access to the expertise and resources necessary to successfully navigate the Albanian solar PV market and capitalize on its growth potential.



Potential Benefits and Challenges

The establishment of NITO Renewable Energy, Inc. offers N2OFF several potential benefits, including consolidated management and resources, enhanced focus on renewable energy, and the potential for increased valuation. However, the company must also navigate market volatility, competition, regulatory and political risks, and financial risks associated with investing in the solar PV sector.

In conclusion, N2OFF's new subsidiary represents a strategic pivot into the solar PV market, enabling the company to better focus on and manage its renewable energy activities. By consolidating its solar PV projects under a single entity, N2OFF can streamline its operations, allocate resources more effectively, and make strategic decisions more efficiently. As the company continues to expand its presence in the solar PV market, it must remain aware of the market, regulatory, and financial risks associated with this move and adapt its strategies accordingly to maximize the value of its investments.