Renergen revenue increased by R1, 8 million in the six months ending 31 August 2024.
About R25, 6 million of revenue was reported at the end of August 2024, compared to R23, 8 million, same period, in the previous year.
Stefano Marani, Chief Executive Officer, of Renergen, said during this period, comprehensive loss increased by 55, 2% to R67, 5 million, from R43, 5 million, in the previous year.
Headline loss per share also climbed up by 53, 10% to 46 cents from 30 cents.
Renergen operations in South Africa, are the Virginia Gas Project, which is the production of liquefied natural gas (LNG) and liquefied helium (LHe).
Phase 1 of this project, was connecting existing wells to a new gas pipeline, constructing a new plant to produce liquid hydrocarbons and LHe.
Phase 2 of the main project, is expected to be switched on in 2026 and reach commercial production in 2027. It is mainly the development of a larger processing plant, adding a fleet of road tankers for distribution.
Renergen also envisions becoming a global player in liquid helium supply and a local supplier of LNG (Liquified Natural Gas).