Genesis Energy Moves Toward Partnership with ChargeNet

Genesis Energy Limited (NZX: GNE) has entered an exclusivity period with ChargeNet, New Zealand’s largest electric vehicle charging network, to finalize a strategic partnership. This partnership could include Genesis taking an equity interest in ChargeNet, a move that aligns with the energy company's efforts to support clean energy infrastructure.

In April, ChargeNet engaged PwC to facilitate a $30 million equity raise, though specific details have not been disclosed. The network currently operates over 400 fast-charging stations across New Zealand, helping to expand the country's electric vehicle capabilities. This partnership signifies a step forward in fostering sustainable transportation and supporting New Zealand’s transition to renewable energy. This potential deal highlights Genesis Energy’s continued commitment to clean energy initiatives and aligns with its long-term sustainability goals.

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