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N2OFF, Inc. (NASDAQ:NITO) shares are trading higher premarket today. On Wednesday, the company disclosed an update on its Solar PV Joint Venture Project with Solterra Renewable Energy Ltd.
Solterra has provided an additional report suggesting potential ways to enhance the project’s value. The project design currently requires a 97 MW grid connection to deliver 111 MWp.
The approved connection, exceeding the requirement by about 10%, allows for either a capacity increase of up to 10% or the addition of battery storage solutions to enhance project value.
The company and Solterra are evaluating both options to determine which will enhance the project’s efficiency and profitability.
Last month, N2OFF disclosed that its joint venture with Solterra Renewable secured approval for the first solar PV project to connect to a regional energy grid in Germany.
Price Action: NITO shares are up 50.9% at $0.4708 premarket at the last check Thursday.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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