** Shares of Delorean DEL.AX rise 20% to A$0.15, their highest level since February 12

** Shares of the utilities co gain most since early October 2024

** Co signs A$6.1 million ($3.86 million) grant funding agreement with the Australian Government’s Australian Renewable Energy Agency (ARENA)

** Grant enables co to enhance its SA1 bioenergy facility

** Shares of co, however, are down 11.8% this year

($1 = 1.5788 Australian dollars)

(Reporting by Nichiket Sunil in Bengaluru)

((Nichiket.Sunil@thomsonreuters.com))