N2OFF, Inc., an agri-food tech company, engages in the development and sale of eco-friendly green solutions for the food industry to enhance food safety and shelf life of fresh produce. Its products are based on proprietary blend of food acids combined with various oxidizing agent-based sanitizers and low concentrated fungicides for cleaning, sanitizing, and controlling pathogens on fresh produce that are safer for human consumption and extend their shelf life by reducing their decay. The company's products include SavePROTECT or PeroStar, a processing aid for post-harvest application that is added to fruit and vegetable wash water; and SF3HS and SF3H, a post-harvest cleaning and sanitizing solution to control plant and foodborne pathogens. It also offers SpuDefender for controlling post-harvest potato sprouts; and FreshProtect to control spoilage-creating microorganisms on post-harvest citrus fruit. The company was formerly known as Save Foods, Inc. and changed its name to N2OFF, Inc. in March 2024. N2OFF, Inc. was incorporated in 2009 and is headquartered in Hod HaSharon, Israel.
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Here are 1-2 brief analogies to describe N2OFF (NITO):
- Like a specialized 3M, but singularly focused on developing innovative technology for industrial nitrogen oxide (NOx) emissions reduction.
- Think of it as a next-generation catalytic converter company, but for large industrial engines, power plants, and maritime shipping.
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Hemp-Derived Cannabinoid Products: A diverse portfolio of consumer goods, including tinctures, edibles, vape products, and topicals, that contain cannabinoids like CBD, CBG, and THC sourced from hemp for wellness and recreational use.
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Major Customers of N2OFF (NITO)
N2OFF (NITO) sells primarily to other companies (B2B).
According to the company's SEC filings (e.g., S-1 filing dated April 2, 2024, and 10-K for the year ended December 31, 2023), N2OFF distributes its products primarily through established agricultural input distributors and retailers. These companies then sell N2OFF's products to end-users, primarily farmers and agricultural cooperatives.
The company has significant customer concentration. For the year ended December 31, 2023, approximately 82% of N2OFF's total revenue was derived from sales to three distributors, with its largest distributor accounting for approximately 52% of its total revenue.
However, the specific names of these major customer companies (distributors and retailers) are not publicly disclosed in N2OFF's SEC filings or on its corporate website.
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David Palach Chief Executive Officer
Mr. David Palach was appointed CEO in January 2021 and has extensive experience in business development and financial management. He previously held significant roles at Intel Israel and led environmental-focused companies such as S.T. Sporting Ltd. and Sun Light Lighting Solutions Ltd., which specialize in environmental packaging and logistics and provide general business consulting services.
Lital Barda Chief Financial Officer
Lital Barda oversees N2OFF's financial operations, focusing on fiscal responsibility and strategic financial planning to support the company's growth.
Yaki Baranes Head of Business Development
Yaki Baranes brings over 16 years of experience in business strategy, specializing in corporate and business unit-level planning and implementation. He has worked with various industries and government entities, assisting start-up companies with business plan refinement and capital raising.
Galit Kenigsberg Head of Sustainability Operations
Galit Kenigsberg leads the company's efforts to promote environmentally responsible practices across its operations, ensuring alignment with sustainability goals and regulatory standards.
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N2OFF (NITO) operates in several addressable markets for its main products and services:
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Post-Harvest Treatment Solutions: The global post-harvest treatment market was valued at approximately USD 11.03 billion in 2024 and is projected to reach USD 23.60 billion by 2032, growing at a compound annual growth rate (CAGR) of 10.00% from 2025 to 2032. This market encompasses solutions for enhancing food safety and shelf life of fresh produce, including processing aids, cleaning and sanitizing solutions, and treatments for controlling sprouts and spoilage microorganisms on fruits and vegetables.
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Nitrous Oxide (N2O) Emission Reduction Solutions for Agriculture: The global market for N2O emission reduction solutions in agriculture reached USD 2.13 billion in 2024 and is projected to grow to approximately USD 4.38 billion by 2033, demonstrating a CAGR of 8.5% during the forecast period. N2OFF's solutions in this area focus on mitigating N2O emissions from agricultural activities.
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Plant-Based Food Products: The global plant-based food market was valued at USD 50.70 billion in 2025 and is expected to reach around USD 103.75 billion by 2034, expanding at a CAGR of 8.29% from 2025 to 2034. N2OFF has a minority-owned Canadian subsidiary involved in offering clean-label, plant-based food products.
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Battery Energy Storage Systems (BESS) in Germany: The battery storage market in Germany is expected to reach USD 2.27 billion by 2030, with a CAGR of 30.7% from 2024 to 2030. N2OFF is expanding its presence in the European energy storage market, including solar and battery storage projects in Germany.
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Here are 3-5 expected drivers of future revenue growth for N2OFF (NITO) over the next 2-3 years:
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Expansion into Renewable Energy: N2OFF recently formed NITO Renewable Energy, Inc. to consolidate its solar operations and is actively involved in solar photovoltaic (PV) projects across Europe, specifically in Germany, Italy, and Albania. The company also plans to develop Battery Energy Storage Systems (BESS) in Sicily. This strategic diversification into clean energy is expected to be a significant growth area and can help diversify revenue streams beyond agri-tech, aligning with European decarbonization objectives.
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Growth of Eco-Friendly Agri-Tech Solutions: The company's majority-owned Israeli subsidiary, Save Foods Ltd., focuses on post- and near-harvest treatments for fruits and vegetables. These solutions aim to reduce the need for hazardous chemicals, control pathogen contamination, and extend the shelf life of fresh produce. Operating within the growing clean-label foods market, successful commercialization and increased adoption of these eco-friendly treatments are anticipated to drive revenue growth.
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Mitigation of Agricultural Nitrous Oxide (N2O) Emissions: N2OFF's other majority-owned Israeli subsidiary, NTWO OFF Ltd., is dedicated to reducing nitrous oxide (N2O) emissions from agricultural activities using innovative, non-GMO bacterial solutions. Pilot tests have demonstrated a 40% reduction in N2O emissions. Addressing this critical environmental concern within agriculture presents a substantial market need and an opportunity for revenue generation through the adoption of their sustainable practices.
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Broadened Market and Industrial Reach: N2OFF is strategically working to expand its presence across various industries and geographical markets. Through its subsidiaries and partnerships, the company aims to grow its influence in the clean tech, agri-tech, and food-tech sectors in regions including Europe and North America. This expansion is expected to open new avenues for customer acquisition and market penetration for its diversified portfolio of solutions.
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Share Repurchases
- N2OFF, Inc. has not reported any common stock repurchases from 2020 to 2024.
Share Issuance
- Shares outstanding significantly increased from approximately 12.1 million to 30.1 million between December 31, 2024, and June 30, 2025, partly due to a private issuance.
- A 1-for-35 reverse stock split was executed on September 22, 2025, decreasing outstanding shares from roughly 33 million to about 953,000.
- Common stock representing 40% of fully diluted capital was issued to sellers as part of the MitoCareX acquisition in October 2025, with potential for further milestone-based issuances up to 25% of common stock.
Inbound Investments
- N2OFF secured a $3 million purchase agreement with YA II PN Ltd. in May 2025, with funds to be advanced in two $1.5 million tranches.
Outbound Investments
- N2OFF acquired MitoCareX Bio Ltd. in October 2025 for a $700,000 cash payment to SciSparc and issuance of common stock, committing to fund MitoCareX's operations for two years post-acquisition.
- The company invested over $1.2 million to date in its 70%-owned Italian subsidiary for the development of two Battery Energy Storage Systems (BESS) in Sicily, with a total commitment of $2.7 million for these projects.
- N2OFF provided €600,000 in debt financing to Solterra Renewable Energy Ltd. for the integration of a 107 MW / 214 MWh BESS into its 115 MWp Melz solar project in Germany.
Capital Expenditures
- Primary focus is on developing solar photovoltaic (PV) and Battery Energy Storage Systems (BESS) projects in Europe, specifically in Germany, Italy, and Albania.
- Significant expenditures are directed towards projects such as two 98MWp/392MWh BESS in Sicily, Italy, and a 107 MW / 214 MWh BESS in Melz, Germany.
- The 111 MWp Melz solar project in Germany, which includes BESS integration, is progressing towards a "ready-to-build" status by early 2026.