Why the Renergen (ASX:RLT) share price is climbing higher today

The Renergen (ASX: RLT) share price is climbing 4.5% higher today after the company announced an innovative transport solution for vaccines.
The post Why the Renergen (ASX:RLT) share price is climbing higher today appeared first on The Motley Fool Australia. –

man holding bunch of balloons soaring through the air signifying asx share price rise

The Renergen Ltd (ASX: RLT) share price is climbing higher today. This comes after the company announced a helium powered transport solution for vaccines. At the time of writing, the Renergen share price is up 4.5% to $1.40. In comparison, the All Ordinaries Index (ASX: XAO) is down 0.7% to 6,923 points.

Renergen is a renewable energy business that invests in early-stage alternative energy projects across Africa and other emerging markets. Its focus is on the commercialisation of its Virginia Gas Project which has reserves of both helium and natural gas.

What’s moving the Renergen share price higher?

While the broader market falls, the Renergen share price is on the rise as investors welcome the company’s positive update.

According to the release, Renergen has created a new vaccine storage solution which effectively simplifies the process of transferring immunisations.

Named ‘Renergen Cryo-Vacc’, the device enables a minimum of 100 doses to be transported at temperatures between -70 and -150 Celsius. Encased in aluminium, the Renergen Cryo-Vacc utilises liquid helium which is boiled and released over a period of 30 days, without any power supply. This permits vaccines to be transported over long distances, ensuring the doses aren’t comprised by heat.

In addition, Renergen noted that the density of liquid helium is significantly lighter than liquid nitrogen. This makes the device easy to carry with an overall weight of just 20 kilos.

The company has filed for patent rights to the design, and is calling on its partners to adopt the ground-breaking solution.

Renergen has reported that not only does its device offer a cost-effective solution, but also allows vaccines to be delivered to remote areas.

What did management say?

Renergen CEO and managing director Mr Stefano Marani commented on the milestone achievement, saying:

As an emerging helium producer, we are proud to have developed this innovative concept, at a time when the world is seeking solutions on how to overcome the COVID-19 pandemic.

…we are inviting partners with the resources to roll-out large-scale manufacture of the Renergen Cryo-Vacc… Importantly, with the devices in circulation, transportation can be completed in a cost-effective manner, given the relatively small size and weight of the devices. Depending on where the helium is sourced, the operating cost of the device should be under US$0.07 per dose per day for the smallest device.

Renergen share price summary

The Renergen share price has had a bumpy ride over the last year. The company’s shares reached as high as $1.72 in February, before falling to 52-week low of 84 cents in March.

Renergen shares have, however, been performing better of late and have increased more than 28% over the last 30 days.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of June 30th

More reading

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why the Renergen (ASX:RLT) share price is climbing higher today appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!