Australia's Renu Energy hits 2-week high on placement to fund hydrogen projects

Janus Electric Holdings

23/11/2022 02:01

** Shares of Renu Energy Ltd  RNE.AX  rise as much as 21.7%
to A$0.073, on track to see their best since Nov 9, if gains
hold 
    ** Renewable energy technology co receives firm commitments
for a placement of A$4.5 mln ($2.99 mln) at an issue  price of
A$0.06 per share  urn:newsml:reuters.com:*:nASXbyGV8c
    ** Says proceeds will be used to power co’s green hydrogen
projects such as the one at Brighton in Southern Tasmania and at
Launceston Airport and in the Riau Archipelago in Indonesia
    ** Shares hit highest since Nov. 10 
    ** Shares down 25.9% YTD, as of last close 
($1 = 1.5065 Australian dollars)
 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))