FinTechFunding

Genex Power: Secures agreement with Powerlink for battery energy storage system

  • Genex Power (GNX) has secured an agreement with Powerlink Queensland to access land adjacent to its Bouldercombe substation in Queensland
  • Genex is aiming to develop a large-scale battery energy storage system project with an initial capacity of 50 to 75 megawatts per hour
  • Significantly, this project expected to be the first of its kind in Queensland
  • Now that the agreement has signed, Genex is aiming for the project to be operational by the first half of 2022
  • Gaining land access will depend on whether a connection and access agreement secured between Genex and Powerlink
  • Company shares are trading flat at 19.5 cents
Previous article
Optiscan Imaging: Plans $9.4M capital raise
Next article
Alderan Resources: Receives final drill results from Cactus Canyon
Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

You May Also Like

FinTech

Coinbase Lists First GBP Stablecoin, Expanding Market Options

The new stablecoin aims to enhance trading in the UK market. Highlights: Coinbase has launched the first GBP stablecoin.This...
FinTech

Former Royal Mint Executives Secure Backing for Precious Metals Trading Platform

New platform aims to modernize precious metals trading for investors. Highlights: Former Royal Mint executives launch a new trading...
FinTech

Coastal Bank Partners with Tempo to Strengthen Cross-Border Money Transfers

The partnership aims to enhance international money movement solutions. Highlights: Coastal Bank has partnered with Tempo for improved cross-border...
FinTech

Lloyds Accelerates Homebuying with Fully Digital Service

New platform aims to reduce waiting times for mortgage approvals. Highlights: Lloyds introduces a fully digital homebuying service.Service aims...