Evogene's Casterra Gets $2.2M Orders To Supply Castor Seeds
Portfolio Pulse from Nabaparna Bhattacharya
Evogene Ltd.'s unit Casterra Ag Ltd. has received additional purchase orders worth $2.2 million to supply castor seeds for biofuel production in new African territories. The seeds, developed with Evogene's GeneRator AI Tech Engine, will be used to produce oil for sustainable biofuel. The company had previously signed a framework agreement to sell seeds of its proprietary castor varieties to a leading oil and gas company for cultivation in specific African territories, with initial orders valued at $9.1 million.
July 03, 2023 | 4:07 pm
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POSITIVE IMPACT
Evogene's additional orders for castor seeds for biofuel production could boost its revenues and potentially its stock price.
The additional orders for castor seeds, which are used for biofuel production, represent a significant revenue opportunity for Evogene. This could positively impact the company's financial performance and potentially its stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100