Australia's CFOAM hits 5-mth high on receiving project from U.S Department of Energy

Cfoam

24/12/2020 24:17

** Shares of CFOAM Ltd  CFO.AX  rise as much as 57.7% to
A$0.041, their highest since July 23 
    ** Carbon foam products maker receives project from the U.S
Department of Energy, valued at $2.4 mln  urn:newsml:reuters.com:*:nASX6pbN1l
    ** Project to target applications which have large-scale
carbon foam utilisation, transforming coal to carbon products,
while potentially making significant cost savings
    ** Stock posts its biggest intraday pct gain since Nov. 4
    ** More than 77.8 mln shares change hands, vs the 30-day
average volume of about 5 mln shares
    ** Stock is down 63% this year, as of last close
    
  

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))