Evogene (EVGN) has released an update.
Casterra Ag Ltd., a subsidiary of Evogene Ltd., has secured a new purchase order valued at approximately $440K to supply its elite castor seeds to a new African country, aimed at supporting the lucrative biofuel market. The company, leveraging Evogene’s advanced GeneRator AI technology, anticipates total revenue of around $8.4 million from unfulfilled orders, with expectations to recognize this revenue in the second half of 2024. Casterra’s innovative castor varieties are designed for large-scale cultivation in semi-arid regions, positioning them as a sustainable alternative for biodiesel production without competing with food crops.
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