Neve Yarak, Israel, June 29, 2026 (GLOBE NEWSWIRE) -- Nexentis Technologies Inc. (NASDAQ: NXTS) ("Nexentis" or the "Company"), a drug discovery company that also invests in solar energy assets based on the RTB (Ready to Build) business model, today announced the signing of an Addendum to the Loan and Partnership Agreement, together with Solterra Renewable Energy Ltd. ("Solterra") and the other lenders, for its Melz solar PV project in Germany.
The Addendum follows a share purchase agreement under which Solterra and its assets are being sold to Sunflower Sustainable Investments Ltd. As a result, Solterra is making early partial repayments of the loan. The Addendum, executed together with the other lenders, includes an early partial loan repayment and reduction of profit rights. The transaction reflects a total project valuation of $14.5 million, representing a significant premium to the Company's initial investment.
The Company believes that this valuation demonstrates the substantial value created in the Melz project to date. The Addendum provides immediate liquidity while preserving meaningful upside potential through the remaining profit rights, with an option for a full exit based on an independent valuation upon achievement of Ready-to-Build (RTB) status.
The Melz project (approx. 111-115 MWp) continues to advance in its development phase.
In connection with the transaction, the group of lenders, in which Nexentis holds the majority share, provided a total commitment of approximately $2.95 million (of which Nexentis accounts for approximately $2.18 million) to bring the 115 MWp Melz project to RTB stage. Under the Addendum, Nexentis will receive an early repayment of approximately $147,000 (including accrued interest) on its portion of the loan, plus $98,000 for the sale of 10% of its profit rights (representing 2.5% of the project's profits)) and an additional $22,000 as an option fee for the right to purchase the remaining profit rights at RTB based on an independent Big 4 valuation. The transaction reflects a total project valuation of $14.5 million ($120,000 per MW), representing a significant premium to the Company's initial investment.
About Nexentis Technologies Inc.
Nexentis Technologies Inc. (NASDAQ: NXTS) owns 100% of MitoCareX Bio Ltd, a drug discovery company engaged in targeting cancer and inflammatory metabolic disease indications through the mitochondrial SLC25 protein family. Additionally, Nexentis adopted an investment strategy focused on European renewable energy assets utilizing a RTB (Ready to Build) business model. The Company is currently the lead investor in four solar projects across three European Union countries, all introduced by Solterra Renewable Energy Ltd., a wholly owned subsidiary of Solterra Energy Ltd.
For additional details, please visit https://nexentistech.com/
Forward-looking Statements:
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as "expects," "anticipates," "intends," "plans," "believes," "may," "will," "should," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements. Forward-looking statements in this press release include, without limitation, statements regarding the expected benefits, economics and strategic rationale of the Melz project transaction and Addendum, including the implied project valuation, the Company's expected receipt of any partial loan repayments, option fees or future proceeds, the potential purchase of remaining profit rights, the timing or achievement of Ready-to-Build (RTB) status, the continued development, size and value of the Melz project, the Company's ability to preserve or realize additional upside from its remaining rights, the status and outcome of any negotiations relating to other renewable energy projects, and the Company's broader renewable energy investment strategy. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to known and unknown risks, uncertainties and other factors that may cause Nexentis Technologies' and its subsidiaries' actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Important factors that could cause actual results, performance or achievements to differ materially from those anticipated in these forward-looking statements include, among other things, the risk that the anticipated benefits or economics of the transaction are not realized on the expected timeline or at all; delays or failures in project development; the failure to achieve RTB status; valuation, appraisal or pricing differences, including with respect to any independent valuation; counterparty, closing, performance or credit risks; risks relating to the share purchase transaction involving Solterra and its assets; regulatory, permitting, grid connection, land use, construction, financing, market and other conditions affecting renewable energy projects; the Company's ability to execute its renewable energy strategy; our history of losses and need for additional capital to fund operations; uncertainties of cash flows and inability to meet working capital needs; risks related to not satisfying the continued listing requirements of the Nasdaq Capital Market; and the impact of political, economic and security conditions in Israel and globally on our business. More information on these and other risks, uncertainties and other factors is included from time to time in the "Risk Factors" section of Nexentis Technologies' Annual Report on Form 10-K filed with the Securities and Exchange Commission ("SEC") on March 31, 2026 and other public reports filed with the SEC. Except as otherwise required by law, we undertake no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. We are not responsible for the contents of third-party websites.
Investor Relations Contact:
Michal Efraty
michal@efraty.com
