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Private Placement to Accelerate Growth and Enhance Profitability
Newsfile· 2025-03-25 16:01
Core Viewpoint - Above Food Ingredients Inc. has successfully signed a $9 million private placement of convertible notes, which will significantly enhance its financial position and support growth initiatives [1][2]. Group 1: Financial Position and Capital Raising - The company has raised $9 million through a private placement, with $7 million expected to fund by March 27, 2025, and the remaining $2 million contingent on a reverse merger with Palm Global Technologies Ltd. [1] - The restructuring and capital raising efforts have led to a substantial elimination of debt, positioning the company for profitability and revenue growth [2]. Group 2: Growth Opportunities - Funds raised will expedite growth opportunities for Stricks Ag LLC, a subsidiary focused on specialty ingredients, which has consistently exceeded expectations [3]. - The company plans to invest in Palm Global to participate in key initiatives, including a profitable agri-tech contract and the development of an AI-driven genomics division [4]. Group 3: Leadership Commentary - The CEO of Above Food expressed optimism about the company's prospects and the expected acquisition of Palm Global, emphasizing the potential for significant growth in profitability [5]. - The CEO of Palm Global highlighted the remarkable progress of both companies and the endorsement of their technology and business model through the recent fundraising [5]. Group 4: Company Overview - Above Food Ingredients Inc. is focused on delivering nutritious products with transparency, leveraging AI-driven genomics and agronomy for sustainable food production [6].
N2OFF Signs Non-Binding LOI for Potential 380MW Battery Energy Storage Projects
Newsfilter· 2025-03-18 10:33
Core Points - N2OFF, Inc. has signed a non-binding letter of intent with SB Impact 4 and Solterra for the investment and development of up to four utility-scale Battery Energy Storage System projects in Puglia, Italy, with a combined potential capacity of 380 MW [1][2] - The new projects build on an existing Development Service Agreement that grants exclusivity to SB Impact 4 and N2OFF for evaluating and potentially acquiring these projects within a 60-day period [2] - N2OFF is committed to invest up to €4.4 million in projects located in Germany and Italy, targeting a total capacity of over 300 MW [3] Project Details - The projects under negotiation are located in the Puglia region, with some having secured grid access while others are in early development stages [2] - SB Impact 4 will acquire one or more of these projects, integrating them into the existing Development Service Agreement, with structured payment terms based on key project milestones [4] Company Overview - N2OFF, Inc. focuses on sustainable energy solutions and agri-tech innovations, aiming to reduce greenhouse gas emissions and promote environmentally friendly agricultural practices [5] - The company has recently entered the solar PV market and is providing funding to Solterra Renewable Energy Ltd. for a current project with a total capacity of 111 MWp [5]
N2OFF Establishes a US Subsidiary for Its Solar PV Operations
Newsfilter· 2025-03-03 13:45
Core Insights - N2OFF, Inc. has established a new wholly-owned subsidiary, NITO Renewable Energy, Inc., to consolidate its solar operations in the U.S. [1] - The company is currently involved in three projects across two European countries, Germany and Italy [2]. Group 1: Project Developments - In Germany, a joint venture is developing a 111 MWp solar photovoltaic project in Melz, which has received municipal approval and an indicative grid connection solution that exceeds initial requirements by approximately 10% [3]. - In Italy, N2OFF and Solterra's subsidiary have finalized an agreement to develop two Battery Energy Storage Systems in Sicily, each with a capacity of 98 MWp/392 MWh, with a development timeline of 18-24 months to reach a Ready-to-Build stage [4]. - N2OFF and Solterra Energy Ltd. are collaborating to co-develop the solar PV market in Albania [5]. Group 2: Company Overview - N2OFF, Inc. focuses on sustainable energy solutions and agri-tech innovations, aiming to reduce greenhouse gas emissions and promote environmentally friendly agricultural practices [5]. - The company has a majority-owned Israeli subsidiary, NTWO OFF Ltd., which addresses nitrous oxide emissions, and a minority stake in Plantify Foods, Inc., a Canadian company offering clean-label food options [5].
N2OFF Establishes a US Subsidiary for Its Solar PV Operations
Globenewswire· 2025-03-03 13:45
Core Viewpoint - N2OFF, Inc. has established a new wholly-owned subsidiary, NITO Renewable Energy, Inc., to consolidate its solar operations and focus on future solar photovoltaic (PV) activities [1] Group 1: Company Developments - N2OFF is currently invested in three projects across two European countries [2] - In Germany, a joint venture is developing a 111 MWp solar PV project in Melz, which has secured municipal approval and an indicative grid connection solution, exceeding initial requirements by approximately 10% [3] - In Italy, N2OFF and Solterra's subsidiary have closed a definitive agreement to develop two Battery Energy Storage Systems (BESS) in Sicily, each with a capacity of 98 MWp/392 MWh, with development expected to take 18-24 months [4] - N2OFF and Solterra Energy Ltd. are collaborating to co-develop the solar PV market in Albania [5] Group 2: Company Background - N2OFF, Inc. is a clean tech company focused on sustainable energy solutions and agri-tech innovation, aiming to reduce greenhouse gas emissions and promote environmentally friendly agricultural practices [6] - The company has entered the solar PV market and is providing funding for a current project with a total capacity of 111 MWp, along with potential future projects [6]