Genex Power
Australian public company, focused on the production and storage of renewable energy.
| Date | Investors | Amount | Round |
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| N/A | €0.0 | round | |
| investor | €0.0 | round | |
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* | AUD381m Valuation: AUD381m 14.8x EV/Revenue 28.9x EV/EBITDA | Acquisition | |
| Total Funding | 000k | ||
| AUD | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | - | 4 % | 133 % | (4 %) | 8 % | 142 % | 41 % |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % EBITDA margin | 19 % | 92 % | 56 % | 53 % | 51 % | 65 % | 75 % |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | (103 %) | (176 %) | (16 %) | (4 %) | (7 %) | (21 %) | - |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| R&D % of revenue | 37 % | 13 % | 18 % | 16 % | - | - | - |
Source: Company filings or news article, Equity research estimates
Genex Power Limited is an Australian company focused on developing a portfolio of renewable energy generation and storage projects. Established in 2011, the company has concentrated on creating a 'Kangaroo-Hydro' project, officially known as the Kidston Pumped Storage Hydro Project, located in Far North Queensland. This project repurposes the former Kidston Gold Mine into a large-scale pumped hydro facility, a concept that underpins the company's strategic direction.
The company was founded by Simon Kidston, who serves as a Non-Executive Director. His background in finance and investment, particularly in the resources sector, has been instrumental in steering the company through its capital-intensive development phases. The leadership team also includes CEO James Harding, who brings extensive experience in the energy sector to the company's operations. The company's journey began with the acquisition of the Kidston mine in 2014, with the vision of transforming it into a significant clean energy hub.
Genex Power's business model revolves around the development, ownership, and operation of a diversified portfolio of renewable energy assets. Revenue is generated through the sale of electricity and Large-scale Generation Certificates (LGCs) to energy retailers and large commercial and industrial customers under long-term offtake agreements. A significant milestone was the energization of the 50MW Kidston Solar Project (KS1) in 2017. The company's core market is the Australian National Electricity Market (NEM), where it aims to provide reliable, dispatchable renewable energy to support the grid's transition away from fossil fuels.
The flagship project, the 250MW Kidston Pumped Storage Hydro Project (K2-Hydro), is the centerpiece of its portfolio. This facility functions like a giant water battery, using surplus renewable energy during the day to pump water to an upper reservoir and releasing it through turbines to generate power during peak demand periods. This provides long-duration energy storage, a critical component for grid stability. In addition to the K2-Hydro and the operational KS1 Solar Farm, the portfolio includes the 50MW Jemalong Solar Project (JSP) in New South Wales and the Bulli Creek Clean Energy Project, which has development approval for up to 2GW of solar and battery storage. This multi-asset strategy positions Genex to capture various revenue streams across the renewable energy value chain.
Keywords: renewable energy, pumped hydro storage, solar power, energy generation, electricity market, project development, energy storage, clean energy, grid stability, asset management