AIM-listed EnergyPathways, an energy transition company, has, following its announcement of the £15 million Financing Agreement on 28 April 2026, drawn down a second tranche of £1 million (before costs and expenses).
Following the award of a gas storage licence by the North Sea Transition Authority (NSTA), the net proceeds of this drawdown will be deployed to facilitate the next phases of the work commitments agreed with the NSTA for the company's Marram Energy Storage Hub project ('MESH' or the 'MESH Project').
Pursuant to the terms of the Financing Agreement, in conjunction with the drawdown, the Company has issued 3,431,073 warrants to the Investor, representing 30% of the value of the drawdown. The warrants are exercisable at 12.24 pence per Ordinary Share.
Defined terms in this announcement are the same as those in the announcement of the Financing Agreement on28 April 2026.
Source: EnergyPathways
