Listings: Spotlight Stock Market
Market cap at time of publication: 43 million SEK / $4.16 Million USD
Stock price at time of publication: 3.15 SEK
ESGFIRE average price: 5,624 SEK
Business:Biofuel, Biogas, Small/medium biogas plants for transportation.
Comparable peer : Scandinavian Biogas
We have today chosen to purchase more shares in our portfolio company Biofrigas.
Biofrigas has so far showed a pretty poor share price development since ESGFIRE reintroduced to the ESGFIRE portfolio in february of 2022. Unfortunately we misjudged the amount of time it woudl take for the company from the time it received its first breakthrough order to receive additional orders. It certainly did not help the stock price either that management at the end of 2022 stated that they were pursuing growth over profitability in the current macro climate and also without being overly clear that the company was fully financed throughout 2023.
With todays announcement that the company is aiming to enter the large german market ,which needs an additional 5000 facilities for biogas production and upgrading in addition the already 11000 existing facilities, we think the company might be positioning itself for an explosive growth.
It is a badly hidden secret for those who have researched Biofrigas that their expansion has been slowed down by slow administration of biogas contributions especially from “Klimatklivet”.
Biofrigas is today valued at the sales price of barely 2-3 Cryosep facilities sold by the company.
For new investors this should be an interesting starting price and for old investors perhaps a wise choice to lower your average purchase price. We hope to see a strong growth in sales for Biofrigas during 2023 with a real “ketchup effect” in their ongoing 20 tenders.
We own shares of this company personally.
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