Evogene shares are trading higher after the company announced its subsidiary, Casterra, signed a framework agreement with an oil & gas company to sell its castor seeds for sustainable biofuel production, with initial purchase orders of $9.1 million.
Portfolio Pulse from Benzinga Newsdesk
Evogene's subsidiary Casterra signed a framework agreement with an oil & gas company to sell its castor seeds for sustainable biofuel production, with initial purchase orders of $9.1 million.
June 21, 2023 | 12:56 pm
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Evogene shares are trading higher after its subsidiary Casterra signed a $9.1 million deal to sell castor seeds for sustainable biofuel production.
The news of Casterra's $9.1 million deal for castor seeds in sustainable biofuel production directly impacts Evogene's revenues and indicates a positive development for the company. This is likely to result in a short-term increase in Evogene's stock price, as investors react positively to the news.
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