17/01/2022 - 12:30

GenusPlus to work on $1.5bn project

17/01/2022 - 12:30

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Belmont-based GenusPlus Group has been named preferred supplier to Australia’s first hyperscale national fibre network, with its contract worth at least $50 million.

GenusPlus to work on $1.5bn project
GenusPlus will complete stage one works on the $1.5 billion HyperOne project. Photo: GenusPlus Group

Belmont-based electrical services business GenusPlus Group has been named preferred supplier to Australia’s first hyperscale national fibre network, with its contract worth at least $50 million.

GenusPlus this morning announced it had signed a framework agreement with HyperOne, a startup of technology entrepreneur Bevan Slattery, which aims to build a 20,000-kilometre fibre backbone across Australia.

HyperOne claims to be Australia’s largest private digital infrastructure project, set to create more than 10,000 jobs during construction.

GenusPlus has been selected to design and build network infrastructure between Sydney and Melbourne (via Canberra) as part of stage one, with work scheduled to start early this year.

The contract is for an initial five-year term and is expected to generate $50 million in revenue within the first 12 months, GenusPlus said.

The company gained the work through its acquisition of Victorian business Tandem Corp, completed mid-last year.

GenusPlus managing director David Riches said the company’s communications division had struggled prior to the acquisition, but that GenusPlus was continuing to expand its communications footprint across Australia.

“This is an outstanding opportunity for GenusPlus and HyperOne to collaborate on this ground-breaking national infrastructure project,” he said of the agreement.

“It cements GenusPlus’ position as a leading communications partner within the industry.

“We look forward to further growing our relationship with the team at HyperOne on this significant national infrastructure project.”

Once built, HyperOne will be capable of carrying more than 10,000 terabits per second, which the Queensland-based startup says is more traffic than every other national backbone built in Australia combined.

Mr Slattery, who is also the founder of data centre operator NEXTDC, said the agreement with GenusPlus was one of the first contracts associated with the $1.5 billion project.

“I am excited to be working with an Australian owned and operated business that is flexible, focused and culturally a like-minded partner on this nation-changing project,” he said.

GenusPlus was trading 2.4 per cent higher at 2:46pm AEDT to $1.27 a share.

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