The Renergen (ASX:RLT) share price is surging 13%. Here's why

The Renergen share price is rocketing today, up 15% in early afternoon trade. We look at what's driving ASX investor interest.

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Renergen Limited (ASX: RLT) share price is gaining strongly today, up 13.21% in afternoon trade.

The soaring share price appears to be driven by the helium and natural gas company's ASX release yesterday, after markets closed, announcing the completion and successful operation of its first Cryo-Vacc prototype.

Why is Renergen's Cryo-Vacc launch driving ASX investor interest?

The spike in investor interest in the company's Cryo-Vacc prototype is likely linked to its potential role in delivering COVID-19 vaccines, particularly in developing nations where reliable cold storage facilities are few and far between.

Renergen delivered the prototype to South African-based media in Johannesburg yesterday. The company plans to start production within days.

According to Renergen's release, Cryo-Vacc enables the "efficient transport and storage of ultracold biologics for periods of up to 25 days or longer in transit". This is possible even when there is no external power available. The unit can maintain temperatures in the range of anywhere from -150 ºC to 8ºC, enabling it to support the delivery of a suite of vaccines.

Cryo-Vacc units are also able to give accurate temperature readings of the vaccines during transit, along with GPS tracking.

The units use liquid nitrogen to transport by road and helium to transport by air. Helium is far lighter than nitrogen, and Renergen reported that based on current flight safety regulations, Cryo-Vacc with helium can transport up to 12 times more vials per flight "compared to other cryogens".

In South Africa, Renergen has partnered with local express courier partner, DPD Laser, part of The Laser Group, to distribute vaccines.

Commenting on the rollout of the company's Cryo-Vacc, Renergen's CEO Stefano Marani:

Precise temperature control combined with a formidable hold time in transit, makes Cryo-Vacc a compelling asset in the transport of biologics, especially in the developing world. With a useful temperature range of over 150 ºC, Cryo-Vacc is very versatile when compared to even standard refrigeration technology.

Following the presentation to South African media, Marani added (quoted by Reuters), "We've already started to take orders for this product. So we're ready to start going into production in the next few days."

He added that Renergen has already received numerous queries and order requests from across the globe.

Renergen share price snapshot

With today's intraday gains taken into account, the Renergen share price is up 45% so far in 2021. That compares to a gain of 3% on the All Ordinaries Index (ASX: XAO).

Should you invest $1,000 in Woolworths Group Limited right now?

Before you buy Woolworths Group Limited shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Woolworths Group Limited wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

Happy woman working on a laptop.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a pleasant end to the trading week for investors this Friday.

Read more »

Close-up of a business man's hand stacking gold coins into piles on a desktop.
Opinions

If I had a big cash pile like Warren Buffett, here's how I'd spend it in 2025

I'd put Buffett's billions to work straight away.

Read more »

Man pointing at a blue rising share price graph.
Technology Shares

Up 30% in a month, this ASX 200 tech share is 'a compelling opportunity': expert

Analysts from listed investment company WAM Capital say this ASX 200 tech stock is worth watching.

Read more »

Emotional euphoric young woman giving high five to male partner, celebrating family achievement, getting bank loan approval, or financial or investing success.
52-Week Highs

5 ASX 200 shares hitting multi-year highs after strongly rebounding from tariff turmoil

These stocks have hit new price milestones amid a day in the green for the ASX 200.

Read more »

A woman sits in a cafe wearing a polka dotted shirt and holding a latte in one hand while reading something on a laptop that is sitting on the table in front of her
Share Market News

3 key takeaways from the 2025 Macquarie Conference

More than one hundred companies presented at the Macquarie Conference this year. Here’s what we learned.

Read more »

An executive in a suit smooths his hair and laughs as he looks at his laptop feeling surprised and delighted.
Broker Notes

Brokers name 3 ASX shares to buy today

Here's why brokers are feeling bullish about these three shares this week.

Read more »

A happy investor sits at his desk in front of his laptop and does the mexican wave with his arms to celebrate the returns from his ASX dividend shares
Share Gainers

Why Chrysos, GQG Partners, Macquarie, and Webjet shares are storming higher today

These shares are ending the week on a positive note. But why?

Read more »

A young man sits at his desk working on his laptop with a big smile on his face.
Share Gainers

The top 3 ASX 200 trades since the Liberation Day dip

These companies are up at least 35% in just over a month.

Read more »