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

JPMorgan Pilots Software to Monitor Junior Bankers’ Working Hours

New initiative aims to enhance oversight of junior employee hours worked.Highlights: JPMorgan tests software to monitor working hours...
FinTech

Goldman Sachs to Implement Performance-Based Staff Cuts in April

The bank plans restructuring amidst shifting financial landscape.Highlights: Goldman Sachs plans performance-based staff cuts in April.The restructuring aims...
FinTech

Nasdaq Secures SEC Approval for Trading Tokenized Securities

This marks a significant advancement in digital asset trading.Highlights: Nasdaq gains SEC approval for trading tokenized securities.This approval...
FinTech

Aveni Launches Agentic AI Council to Enhance AI Ethics

New council aims to guide ethical AI development and deployment strategies.Highlights: Aveni establishes the Agentic AI Council for...