By Chris Wack
N2OFF shares tripled, to $3.23, after the company signed a binding letter of intent with Soltera Brand Services Italy, a company that specializes in the origination and development of renewable energy projects in Italy.
The stock hit a 52-week high of $3.49 earlier in the session, and is now up 66% in the past 12 months.
The technology company said the projects included in the LOI will include the purchase and development of two battery storage systems in Sicily, each with a capacity of 392 megawatts per hour.
The Israel company said there will be a total investment of up to 2.35 million euros ($2.45 million), to be paid in milestones. Upon completion, N2OFF will hold 70% ownership in the projects.
The development is currently expected to take 18 to 24 months for these projects to reach a ready-to-build stage.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
January 03, 2025 10:27 ET (15:27 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。