RONN Inc (OTC:RONN) Stock On Watchlist After JV Partner HES Secures Mega-Project Agreement in South Korea
On Monday a fair number of companies had come on to the radars of investors for one reason or another and one of the companies to have hit the news cycle was RONN Inc (OTC:RONN). The company came into focus after it made an announcement with regards to an agreement signed by its joint venture partner Hydrogen Energy Systems Inc.
The Agreement
In the news release, RONN announced that Hydrogen Energy Systems had inked a major new agreement with a well known chemical company based out of South Korea. The agreement had been signed in relation to a supposed ‘mega project’ meant for the production of urea, ammonia, nitrogen and hydrogen at a large scale. The company noted that the project in question would have costs in excess of $355 million. More details about the project would be released later on, RONN noted in the news release.
Further Details
As per the terms of the agreement between RONN and Hydrogen Energy, the two entities would pool their resources in order to engineer, design and manage the project. Considering the overall cost of the project, it could prove to be a lucrative one for RONN.
Management Quote
“This agreement represents a giant leap forward in our global clean-energy ambitions,” said Mr. Harry McGregor of HES. “By collaborating with RONN, we’re creating a broad portfolio of sustainable and profitable solutions for industries that need them most.”
Technicals
| +/- EMA(20) | 0.0003 (+0.00%) |
| +/- SMA(50) | 0.0004 (-25.00%) |
| +/- SMA(200) | 0.0021 (-85.71%) |
| 5-Day Perf. | -25% |
| 1-Month Perf. | – |
| 3-Month Perf. | – |
| 6-Month Perf. | -88% |
| YTD Perf. | -50% |
| 1-Year Perf. | -89.29% |
| RSI(14) | 48.35 |
| ATR(14) | – |
| ADX(14) | 11.07 |
