Genesis takes majority stake in ChargeNet for $64m

ChargeNet operates more than 400 public fast-charging points across the country. (Image: NZME)

Wed, 02 Oct 2024

Power generator and retailer Genesis Energy said it will spend $64 million on taking a majority stake in ChargeNet, New Zealand’s largest nationwide electric vehicle public charging network.Genesis said the move would make it a key investor in the growth of the country’s electric vehicle (EV) market and in the energy transition.Under terms of the agreement, Genesis will acquire a 65% stake in ChargeNet, which was founded in 2015 by tech entrepreneurs Steve and Dianna West.The controlling stake was bought from Mercuria, a firm founde...

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