Australia's ReNu Energy surges on $65 mln investment from HESTA

Janus Electric Holdings

09/11/2022 24:43

** Shares of ReNu Energy  RNE.AX  surge as much as 147.5% to
A$0.099, their best intraday gain since Sept. 17, 2020
    ** Clean energy firm says it, along with a unit, enters a
term sheet with Australian pension fund HESTA for an investment
of up to A$100 mln ($64.96 mln) in RNE's green hydrogen projects
    ** HESTA holds about A$68 billion in assets globally,
according to its website 
    ** Stock hits highest level since Jan. 18 
    ** Trading volumes cross 335 times their 30-day average,
with 46.1 mln shares traded so far
    ** RNE down 50.6% YTD as of last close 
($1 = 1.5394 Australian dollars)
 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))