HyperOne progress update

National essential power and communications infrastructure provider GenusPlus Group Ltd (ASX: GNP) (GenusPlus, or the Company) advises that it has completed an early works package in respect of the design phase of the HyperOne Hyperscale Backbone project.

As part of the detailed design phase, HyperOne is investigating a number of more efficient route options. These investigations mean that the parties are not presently in a position to enter into the first work package,as had been contemplated.

HyperOne anticipates that the parties can execute the first work package once it completes these further detailed design activities. GenusPlus and HyperOne continue to closely consult as detailed design activities continue.The Framework Agreement with HyperOne Pty Ltd remains in place.Notwithstanding these circumstances the Company expects to remain within its FY2022 forecast earnings guidance.

More info and background into HyperOne (Bevan Slattery's new pet project) can be found below:

https://www.capacitymedia.com/article/2aapl4z2pi89hcujj8fls/news/hyperone-makes-progress-on-national-hyperscale-network

And another fun fact: Develop executive Bill Beament has a small holding which got me interested.

Although I'm kind of wary about big infra projects like this given we are in a inflationary contraction cycle.