N2OFF, Inc. (NASDAQ) ended the trading day on September 11, 2024, at $0.31, marking a drop of 9.20% with a loss of $0.0316 by the close of regular trading at 4:00 PM. However, in a surprising turnaround, the stock made an impressive recovery during after-hours trading, jumping up to $0.53 by 7:59 PM. This after-hours surge translates to a whopping 70.54% increase, adding $0.22 to its value from the day’s close.
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On the same day, N2OFF, a clean tech company focusing on sustainable energy solutions and agricultural technology, shared an important update about its Solar PV Joint Venture Project with Solterra Renewable Energy Ltd. The project recently cleared a significant hurdle by receiving approval to connect to the local power grid of a regional energy provider in Meltz, Germany. Following this, Solterra submitted an additional report exploring new ways to boost the value of the project potentially.
The project’s current design calls for a 97 MW grid connection to power an overall capacity of 111 MWp. Interestingly, the approved grid connection exceeds what’s required by about 10%, opening up two potential paths for value enhancement: increasing the project’s capacity by up to 10% or integrating battery storage solutions.
At the moment, N2OFF and Solterra are carefully weighing both options to determine which one could offer the best return in terms of efficiency and profitability. While more in-depth analysis is needed to assess the feasibility of these options, the increased capacity already adds promising potential to the project’s value, even if no immediate changes are made. This could ultimately lead to a higher valuation, particularly if the project is eventually sold.
