JOHANNESBURG – Renegren’s share price leapt by more than 7 percent on the JSE on Monday after the emerging natural gas and helium producer announced that it had completed the commissioning of its second compressed natural gas (CNG) filling station in Johannesburg.
The group said the filling station would commence supply of CNG to Black Knight Logistics for a fleet of 15 trucks, starting later this month.
Chief executive Stefano Marani said this was a positive development for Renergen as the new CNG filling station would significantly increase the current pilot phase revenues and would realise its vision of supplying clean and sustainable energy into the logistics sector through the use of technology that was readily available.
“As a logistics company, delivering on sustainability targets is now easily attainable and companies can gain the dual benefit of reducing cost and emissions. Enormous credit must be given to Black Knight, which has taken the first step of purchasing the very first commercial fleet of natural gas-powered trucks in the South African market,” Marani said.
Renergen's share price rose to R8.99 a share in intraday trade on the JSE and later closed at this price.