Why Is Clean Tech Company N2OFF Stock Jumping Premarket Thursday?
Portfolio Pulse from Lekha Gupta
N2OFF, Inc. (NASDAQ:NITO) shares surged premarket following an update on its Solar PV Joint Venture Project with Solterra Renewable Energy Ltd. The project has a 97 MW grid connection approved, exceeding requirements by 10%, allowing for potential capacity increase or battery storage addition. N2OFF and Solterra are evaluating options to enhance project efficiency and profitability.
September 12, 2024 | 11:29 am
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N2OFF, Inc. shares are up 50.9% premarket due to a positive update on its Solar PV Joint Venture with Solterra Renewable Energy. The project has a 97 MW grid connection approved, exceeding requirements by 10%, allowing for potential capacity increase or battery storage addition.
The news of the approved grid connection exceeding requirements by 10% is a significant positive development for N2OFF's joint venture project, indicating potential for increased capacity or added battery storage. This enhances the project's value and profitability, leading to a strong positive market reaction.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100