Startup · $727m raised
Every investor coverage indicates participated in a round Genex raised.
| Investor | Rounds | Invested |
|---|---|---|
| Northern Australia Infrastructure Facility | Venture debt | - |
| J-Power | Venture debt | $35,000,000 |
| Infradebt | Venture debt | $35,000,000 |
| Australian Renewable Energy Agency (ARENA) | Grant | $47,000,000 |
| ARENA | Grant | $47,000,000 |
The transaction that ended Genex's run as a startup, per published coverage. It closes the funding history too, where it is the ladder's last rung.
| Bought by | Kind | Announced | Price | Sources |
|---|---|---|---|---|
| J-Power | Acquisition | Apr 2024 | $380m | RenewEconomy (Mon 17 Jun 2024), RenewEconomy (Fri 12 Apr 2024) |
Companies Genex acquired or merged with, per published coverage. Buying a company is not investing in one: nothing here counts in the deals column.
Stories naming Genex. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
URUS Group has signed a definitive agreement to acquire livestock data platform AgriWebb. Terms undisclosed; completion expected in the third quarter of 2026, pending regulatory approvals.
Also AgFunderNews
Renewable electricity retailer Flow Power has bought comparison service Solar Choice, with backing from Canadian pension fund OPTrust. Solar Choice stays independent while its customers get access to Flow's retail plans.
Also RenewEconomy·RenewEconomy
Genex Power, the last Australian-listed developer of renewable energy and storage, has accepted a takeover bid from Japanese partner J-Power at a $380 million equity value, topping a rejected Skip Capital offer.
Also RenewEconomy
Perennial's analysis of exit conditions argues improving markets will lift M&A, IPO and secondary activity, surveying recent ASX deals, secondaries involving Canva, Employment Hero and Eucalyptus, and LP pressure for distributions.
Also Folklore Ventures·Women's Agenda·quadrantpe.com.au·Forbes Australia·Dealroom
RenewEconomy reports J-Power's $380 million takeover offer for ASX-listed Genex Power, a year after Skip Capital's failed attempt; the Japanese utility already owns a stake and has lent the company $35 million.
Also RenewEconomy
Andrew Forrest again postpones a decision on the Gibson Island green hydrogen project in Queensland, and his Squadron Energy appoints ex-APA head Rob Wheals chief executive, with Jason Willoughby shifting to chairman.
UQ researchers built SolarisAI, an AI tool that pinpoints faulty panels from solar farm data; ARENA and UniQuest funding backed its development, with deployment talks under way with Edify Energy and Genex.
A rolling roundup of Australian energy-sector job moves, listing dozens of executives, directors and ministers joining or leaving utilities, regulators, developers and industry bodies between May and December 2023.
Infradebt has reached first close on the capital raise for its Energy Transition Fund, backed by Grok Ventures and Jana, to lend to big batteries including Neoen's Capital Battery and Genex's Bouldercombe.
Skip Capital, backed by Scott Farquhar and Stonepeak, raised its bid for ASX-listed renewable energy firm Genex Power to $0.25 per share, valuing it at $348 million; the board will now consider due diligence.
Skip Capital, owned by Atlassian co-founder Scott Farquhar and Kim Jackson, leads a conditional, non-binding bid with Stonepeak valuing Genex Power near $320 million; earlier stake-building and Stonepeak's renewables fund close are recalled.
Techboard's monthly roundup cataloguing April 2022 Australian startup funding: megadeals, seed rounds, grants and crowdfunding, nine acquisitions, several ASX listings, and venture firms' fund news.
Ignition Lane's weekly technology roundup: climate-tech funding activity, Grok's bid for AGL, King River Capital's digital asset fund, a batch of Australian startup raises, Maropost acquisitions, GigSuper's collapse and a National AI Centre appointment.
Also Startup Daily
Atlassian's Cannon-Brookes, via his family firm Grok Ventures, has invested $200 million in renewables project financier Infradebt days after his AGL bid was rejected; the capital is already funding a Queensland battery project.
Also TechCrunch Venture·Crunchbase News·TechCrunch Venture·Startup Daily·Startup Daily·Startup Daily·TechCrunch Venture
A ministerial letter inadvertently disclosed seven recent ARENA grants totalling $79.1 million, including funding for Genex's pumped hydro project, CuString, Raygen, the Australian Energy Council and Rio Tinto's aluminium division.
ARENA has committed up to $47 million in conditional funding for Genex Power's Kidston pumped hydro storage project in north Queensland; the $777 million project also holds NAIF debt approval and EnergyAustralia as offtake partner.
Also RenewEconomy·@AuManufacturing·Startup Daily·RenewEconomy
Genex will fund the Kidston pumped hydro project through a $115 million share issue after an equity partner deal collapsed, supplemented by a $47 million ARENA grant and an existing NAIF loan.
Australia's northern infrastructure agency has approved concessional debt covering all financing for Genex's Kidston pumped hydro and solar project, with a Japanese partner taking equity and an earlier solar raise recalled.
Also @AuManufacturing
ARENA and AEMO announce grant-funded trials letting wind and solar farms submit their own short-term generation forecasts, with recipients including Vestas, Windlab, Industrial Monitoring and Control and Fulcrum 3D.