Home Biogas
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The developer and manufacturer of biogas systems has announced that it has signed two exclusive distribution agreements for a period of three years, with a total minimum amount of about $ 1 million.
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The first agreement, amounting to $ 720,000, was signed with HRG (India) Solutions, a company operating in the state of Maharashtra in India.
The additional agreement, amounting to $ 320,000, was signed with a company incorporated in Fiji, called Pacific Grow, and stipulates that Home Biogas’ system will be distributed in a number of islands in the Pacific Ocean, including Fiji, Cook Islands, French Polynesia and the Solomon Islands.
Home biogas systems convert organic waste into liquid fertilizer or cooking gas, and are distributed to the private as well as the institutional market. At this stage two of the systems are in the production stage and another in the pilot stages.
Home Biogas was issued at the end of January at a value of NIS 310 million after the money, after raising about NIS 100 million from the public. In its most recent round of private fundraising in April last year, it was valued at $ 30 million. Since trading began two weeks ago, the stock has fallen 7%.
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