BREAKING NEWS – 18.09.2023

In a press release of September 13th, Green Oleo SpA, one of the leading European producers of fine oleochemicals from renewable sources, announces that it has completed the REACH registration process for the production of Medium Chain Triglycerides commonly known as MCTs.  Specifically, the esters are derived from completely renewable sources and have multiple applications ranging from life sciences to industrial uses. For example, MCTs can be used as emollients in skin care products, as pigment dispersants in color cosmetics, as lubricants in the food and food contact industries, and in the pharmaceutical sector.  The new launch marks a particularly significant frontier of development for the strategy of the Company, which enriches its already extensive product portfolio, strengthening its positioning within deeply interesting target markets such as cosmetics and industrial lubrication. In addition, the launch confirms Green Oleo’s intention, widely expressed during the IPO phase, to expand its catalog with regard to the production and sale of esters. In response to the expansion of its supply and having already started the sampling phase as of August this year, the Company expects to receive its first industrial orders in early 3Q23E. Therefore, the new product’s commercialization should result in noticeable revenue growth as early as 2024.  While waiting to meet with management and assess the first-half financial results, we confirm our recommendation: target price € 3.25, rating BUY and risk MEDIUM

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