Genesis Energy Increases Share Capital by €2.48 Million

In preparation for the company’s sale to Cogenco International, Hungarian green energy producer Genesis Energy has increased its share capital by €2.48 million through a private placement underwritten by Genesis Capital Management. The increase was a pre-condition of Genesis Energy’s purchase by the American co-generation company based in Denver, Colorado. Once the sale is complete Genesis Energy is expected to replace its entire board, request the resignation of CEO Gábor Rényi, and reduce the management staff.

Genesis Capital Management (www.genesiscapitalmanagement.ch)
Genesis Capital Management AG is a Swiss investment management firm with international experience in multiple countries. The firm operates two funds; the GENISIS Technology Fund and the GENISIS Biotechnology Fund. The former focuses on companies developing new technologies that apply to waste disposal and energy production, while the latter is primarily focused on biotechnology companies with applications in the medical, pharmaceutical, agricultural, and environmental fields. Genesis Capital Management is based in Zurich.