AIM-listed EnergyPathways, an integrated energy transition company, has announced the publication of its Annual Results for the year ended 31 December 2023 and Notice of Annual General Meeting.
Period and Post-Period Highlights
- Completed AIM listing in December following RTO with Dial Square Investments Plc
- Raised £2m (before expenses) through the issue of 50,000,000 new ordinary shares in a placing and subscription
- Progressed Front End Engineering and Design (FEED) for Marram Gas Field Project
- Outlined longer-term strategy to develop an energy storage hub in UK Irish Sea, incorporating other potential geo-storage reservoirs, storage infrastructure and hydrogen production facilities to support the UK energy market's future needs
- Formed strategic partnership with Mermaid Subsea Services and Cortez Subsea of the MCS Group
- Awaiting outcome of out-of-round production and storage licence applications to NSTA
Notice of AGM
The Company's Annual General Meeting ('AGM'), will be held at 09.00 a.m. on 28 June 2024, at the offices of Buchanan, 107 Cheapside, London EC2V 6DN.
To be valid, proxy votes must be received by the Company's registrar, Share Registrars, as soon as possible and in any event no later than 09.00am on 26 June 2024.
A copy of the Notice of AGM, together with the Annual Report, will be posted to shareholders on 6 June and will be available to view free of charge on the website of the Company at www.energypathways.uk.
Commenting on the results and outlook, CEO Ben Clube said:
'2023 was a transformative period for EnergyPathways as we obtained a London listing following the RTO with Dial Square Investments Plc. The listing provides a strong growth platform from which we intend to deliver our focused strategy and generate meaningful long-term value for our stakeholders. The current fiscal year has seen good progress with our FEED workstreams for the development of the Marram Gas Project. In tandem, we continue to progress our engagement with the NSTA as we seek to expand our portfolio of production and storage licences, emphasise our commitment to a sustainable development for Marram and outline our vision for an energy storage hub in the East Irish Sea that supports the critical factors that comprise the UK's energy requirements. 2024 will be an active year for EnergyPathways as we seek to achieve FID on Marram and establish the building blocks for our longer-term growth ambitions.'
Source: EnergyPathways
