Rehovot, Isarel
Sepetmber 27, 2023
This first shipment, valued at approximately US$1 million, is part of a framework agreement with a world-leading oil and gas company
Casterra Ag Ltd. ("Casterra"), an integrated castor cultivation solution company and a subsidiary of Evogene Ltd. ("Evogene") (Nasdaq: EVGN) (TASE: EVGN), today announced the shipment of its first batch of high-yield, high-oil castor seeds from Brazil and Zambia to its destination in Africa. This shipment, valued at US$1 million, is the first step in meeting US$11.3M purchase orders from a world-leading oil and gas company, which Casterra received in the second quarter of 2023.
Casterra's premium castor seeds are developed using Evogene's GeneRator AI tech-engine and undergo rigorous testing to meet industry standards. These seeds exhibit high-level cleanliness, successfully passed phytosanitary inspection, and have a germination percentage rate of 90%, exceeding the industry acceptance criteria benchmark.
Casterra CEO Eyal Ronen said: "We are pleased to initiate shipments under this framework agreement with a leading oil and gas company, demonstrating the feasibility of shipping large amounts of seeds, even across continents. Casterra anticipates it will supply the remainder of these seed's orders in the coming months."
About Casterra Ag Ltd.:
Casterra is engaged in developing and commercializing high-yielding castor bean seeds as a cost-competitive, sustainable, second-generation feedstock for the growing biofuel market. It has built its castor genetic assets based on a broad collection of over 300 castor lines from over 40 different geographic and climatic regions. As part of its development process, Casterra applies advanced breeding methods utilizing Evogene's GeneRator AI tech-engine, enabling the use of cutting-edge plant genomics tools and agro-technique expertise to enable efficient and sustainable industrial-scale production of the castor bean.
Topics
Species
