N2OFF and Solterra Brand Services Italy to Develop Two Sicilian Battery Storage Projects

January 3, 2025

DENVER, Colo., Jan 03, 2025 (247marketnews.com)- N2OFF (NASDAQ: NITO) signed a binding LOI with Soltera Brand Services Italy, which specializes in the origination and development of renewable energy projects in Italy, for the purchase and development of two98MWp/392MWh Battery Storage (“BESS”) systems in Sicily.

Upon completion, N2OFF will hold approximately 70% ownership in the projects, further solidifying its entry into the European energy storage market. Upon completion, N2OFF will hold approximately 70% ownership in the projects, further solidifying its entry into the European energy storage market.

The projects are part of the broader solar and energy storage joint venture between N2OFF and Soltera Brand Services Italy’s parent, Solterra Renewable Energy Ltd. and, upon completion, N2OFF will own approximately 70% of the projects, further strengthening its European energy storage market footprint.

Liran Giladi, chairman of Brand Group, an SBSI partner, stated, “I am looking forward to our partnership with N2OFF on these projects. We believe that the BESS market is on the rise and that this joint venture may bring value to the shareholders of both entities. Solterra Brand Services Italy has extensive experience in project development in Italy, and with the support of N2OFF we believe this will be a fruitful collaboration which may even expand in the future.”

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