N2OFF & Solterra Announce Potential to Increase Capacity in Solar PV Joint Venture Project

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, released an update regarding its Solar PV Joint Venture Project with Solterra Renewable Energy Ltd. (“Solterra”). Following receiving the required approval to connect to the power grid of a regional energy service provider in Meltz, Germany, Solterra sent the Company an additional report that indicates possible avenues to potentially increase the project’s value.

The current project design requires a grid connection of 97 MW to deliver an aggregate capacity of 111 MWp. The approved grid connection capacity exceeds such requirement by approximately 10%, providing two potential pathways to maximize the value: (i) increasing the project’s capacity by up to 10%; or (ii) incorporating battery storage solutions.

The Company and Solterra are currently examining both potential pathways in hopes of determining which could enhance the project's overall efficiency and profitability.

While further examination is required to assess the viability of these pathways and to determine which could be more profitable, we believe the increased capacity adds significant potential value to the project, even if these pathways are not immediately pursued. Such potential includes a higher overall valuation of the project in the event it is sold.

David Palach, N2OFF’s CEO, added "We are excited by the possible potential this additional grid capacity could provide. We are committed to exploring these options to increase the project value and will continue in our efforts to maximize this opportunity.”