N2OFF is Increasing its Investment in Melz Project to Explore Additional 40-60 MW Battery Storage
Neve Yarak, Israel, June 16, 2025 (GLOBE NEWSWIRE) -- N2OFF, Inc.(NASDAQ:NITO) (FSE:80W) ("N2OFF" and the "Company"), a clean tech company engaged in sustainable and innovative solutions for solar energy and agri-tech markets, today announced plans to increase its investment in the 111 MWp solar photovoltaic project in Melz, Germany, to explore the integration of a 40–60 MWp battery energy storage system (BESS). This investment is part of N2OFF's intention to advance its renewable energy business.
The Melz project, a cornerstone of N2OFF's joint venture in the renewable energy sector, received approval from the Melz Municipal Committee on December 31, 2024 to promote the inclusion of the project in its statutory plan, marking a significant step toward ready-to-build status by early of 2026. The proposed addition of a 40–60 MWp BESS aims to enhance the project's capacity to store and deliver clean energy and ensure grid stability.
According the GrandView Research, a market research company, the battery energy storage systems market in Germany is expected to reach a projected revenue of US$ 2,271 million by 2030 and a have a compound annual growth rate of 30.7% from 2024 to 2030.
The integration of battery storage will enable the Melz facility to store excess solar energy generated during peak production periods, or to purchase electricity from the grid at low prices, and release it during high-demand periods, in an effort to maximize profitability, efficiency and reliability.
"We are excited to take this step toward enhancing the Melz solar project with advanced battery storage technology," said David Palach, CEO of N2OFF. "By increasing our investment to explore a 40–60 MWp BESS, we are strengthening our position in our current project and continue to explore what we believe to be new lucrative opportunities."
The Melz project is part of a comprehensive collaboration between N2OFF and Solterra Renewable Energy Ltd., a wholly-owned subsidiary of Solterra Energy Ltd., aimed at accelerating the development of what we believe to be high-potential renewable energy facilities across Europe. This collaboration includes joint activities such as the development of two BESS in Sicily, Italy, each with a capacity of 98 MWp/392 MWh, an exclusive agreement between N2OFF and Solterra Energy Ltd.to co-develop solar photovoltaic projects in Albania and a 35MW/140MWh BESS project in Poland.
About N2OFF Inc:
N2OFF, Inc. (formerly known as Save Foods, Inc.) is a clean tech company engaged in sustainable solutions for solar energy and innovation for agri-tech. Through its operational activities it delivers integrated solutions for sustainable energy, greenhouse gas emissions reduction and safety and quality solutions for the agri-tech market. N2OFF recently entered the solar PV market and currently intends to provide funding for the current project in the total Capacity of 111 MWp, as well as potential future projects. Save Foods , N2OFF's majority-owned Israeli subsidiary, focuses on post-harvest treatments in fruit and vegetables to control and prevent pathogen contamination.
For more information on Save Foods visit our website: www.n2off.com.
Forward-looking Statements:
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements. Because such statements deal with future events and are based on our current expectations, they are subject to various risks and uncertainties including the success of our collaboration with Solterra Energy Ltd., entry into future projects, our ability to successfully enter the solar PV sector, the profitability of such industry, and the potential added value of the increased capacity. Actual results, performance or achievements could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including market conditions as well as those discussed under the heading "Risk Factors" in N2OFF's Annual Report on Form 10-K filed with the SEC on March 31, 2025, and in any subsequent filings with the SEC. Except as otherwise required by law, we undertake no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. We are not responsible for the contents of third-party websites.
Investor Relations Contact:
Michal Efraty
[email protected]
