Company: EVGN
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001178913-25-001092
Chunk: 92

Company: Evogene Ltd.
Filing Date: 2025-03-27
Form: 20-F
Item: Item 4
Chunk 92
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 Model
 
Casterra’s business model is to sell its proprietary castor seed varieties to castor growers, together with targeted agro-technical growth protocols. Casterra’s offering includes high yielding varieties with plant structure suitable for mechanized harvest, best practices for large-scale castor growing, and advanced compatible mechanical harvesting and dehulling solutions. Casterra is exploring the extension of its business model to include castor grain production.
 
Key agreements
 
Casterra Agreements with ENI and its Affiliate
 
On November 14, 2022, our subsidiary, Casterra, entered into an agreement with an affiliate of ENI, whereby Casterra will provide its unique castor varieties and its broad know-how in cultivation of castor at a commercial scale for biofuel production. Under the framework of the agreement, the initial focus is the purchase agreement of castor seed varieties from Casterra for growing castor in specific African territories and the provision of technical support. The agreement also allows for the potential for long-term cooperation in castor cultivation between this customer and Casterra, with the potential for expansion into additional territories on the African continent. In November 2023, the agreement was extended until November 1, 2024.
 
On June 21, 2023, Casterra announced that it entered into a framework agreement to sell seeds of its proprietary castor varieties to ENI Kenya B.V., or ENI, for cultivation in specific African territories at a commercial scale for biofuel production. Pursuant to this agreement Casterra received, an order totaling $9.1 million in June 2023. In June 2023, Casterra received an additional order totaling approximately $2.2 million for the supply of castor seeds.
        
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https://www.cdc.gov/antimicrobial-resistance/media/pdfs/2019-ar-threats-report-508.pdf

On June 25, 2024, Casterra announced the receipt of an additional purchase order valued at approximately $440 thousand.
 
During 2023, Casterra supplied approximately 90 tons of seeds. During 2024, Casterra supplied approximately 215 tons of seeds. Commencing in January 2025 and until the date of this Annual Report, Casterra supplied additional approximately 250 tons of seeds. This reflects solving the bottleneck in seed production Casterra previously faced, that caused a delay in the delivery schedule and consequent price adjustments.
 
Casterra is currently negotiating with ENI to supply additional approximately