Evogene Subsidiary Casterra Ag Expands into Africa with $440K Castor Seed Order
Portfolio Pulse from Benzinga Newsdesk
Casterra Ag Ltd., a subsidiary of Evogene Ltd. (NASDAQ:EVGN), has received a $440K order for castor seeds from an existing customer, expanding its operations into a new African country. This order is part of a larger revenue expectation of $8.4 million for 2023 and 2024. The global biodiesel market is projected to grow significantly, and Casterra's high oil-yielding castor seeds are positioned to benefit from this trend.
June 25, 2024 | 11:08 am
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Evogene's subsidiary Casterra Ag has received a $440K order for castor seeds, expanding into a new African market. This order contributes to a total expected revenue of $8.4 million for 2023 and 2024.
The $440K order and expansion into a new African market are positive developments for Evogene, indicating growth and increased revenue potential. The global biodiesel market's projected growth further supports a positive outlook.
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