Genex Power's Funding Extension with J-POWER

Genex Power Limited (ASX: $GNX) has announced an extension of its existing Corporate Loan Facility with JPGA Partners Pty Ltd, a wholly-owned subsidiary of Electric Power Development Co., Ltd (J-POWER), by $10 million. This brings the total Facility to $45 million, providing standby working capital funding for the company as it progresses with the potential sale to J-POWER under a scheme of arrangement or takeover bid.

Genex CEO's Perspective on Funding Extension

The $10 million extension to our Facility with J-POWER represents a non-dilutive, cost-efficient method of providing standby working capital funding for Genex, as we progress with our company's potential sale to J-POWER under a scheme of arrangement or takeover bid. This increase to the Facility provides a prudent buffer for Genex during this period as we continue the development of our portfolio of projects.

Summary of Funding Extension and Outlook

Genex Power Limited (ASX: $GNX) has agreed to extend its Corporate Loan Facility with J-POWER by $10 million, bringing the total Facility to $45 million. The extension provides standby working capital funding for Genex as it progresses with the potential sale to J-POWER. With a committed portfolio of 400MW and up to approximately 2.3GW of renewable energy and storage projects in the Company's development pipeline, Genex is well placed in its strategy to become a leading renewable energy and storage company in Australia.