MattB

[MattB @Matt_Butcha]

@2147mill #EPP @energy_pathways sure thing for a 10+ bagger in good time.

[EnergyPathways @energy_pathways]

An important element of EnergyPathways #EPP work to develop our MESH energy storage project is engagement within Westminster and Whitehall, to explain the project and the benefits it offers to the UK – notably on energy security, the energy transition, in lowering energy bills and in boosting industrial/economic growth, in particular in Barrow-in-Furness, Cumbria.

Last week, Ben Clube, our CEO and James Poole (our CTO) met with officials at the Department of Energy Security and Net Zero, the Department of Business and Trade, and at No 10.

As we take MESH forward, EnergyPathways is fully committed to working with the UK Government, industry regulators, regional agencies, and industrial partners as the UK’s energy system evolves.

Our new corporate presentation highlights the significant potential value that MESH offers to both investors and the wider UK energy landscape: https://t.co/Ls5NWUTsSv

#MESH #EnergyTransition #CleanEnergy #LDES #GasStorage #CAES @energygovuk @Siemens_Energy

[Reddit Investor @RedditDeluxe]

One of the few criticisms from Friday’s #EPP investor webinar was there was no mention of hard numbers in terms of revenues and NPV for MESH.

But after Fridays X post highlighting key meetings with DESNZ, Department of Business and Trade, as well as global financial institutions and banks, the reason for the lack of webinar detail seems clear… The numbers were withheld for confidentiality until presented to the government and institutional investors.

It’s worth mentioning before we begin, the figures in the presentation have been corroborated by Siemens Energy who deemed MESH “economically and commercially viable” in the RNS dated 28/04/26

Here are the numbers:

CAES LDES:
Asset life: 30 years
Net Revenues: £100m-£140m pa
NPV8 @ FID: £300m-350m

Gas Storage:
Asset life: 30 years
Net Revenues: £110m-£160m pa
NPV8 @ FID: £400m-800m

Total valuation at FID of £700m to £1.15bn

These are numbers impressive, but they are based only on the initial development of 4 compressed air salt caverns and 8 caverns for gas storage. However, the overall storage license area is able to allow construction of up to 60. Therefore, the quoted NPV8 numbers have the capacity to be multiplied significantly.

This also doesn’t include the revenue figures for hydrogen, high grade graphite and clean ammonia.

Using the projected figures for Graphite (circa 60,000 tonnes pa) and the target grade pricing of $10,000 per tonne (the aim is for the graphite to be refined via a study with Mitsui Japan to create nuclear/military grade graphite, elevating the price dramatically. See RNS 22/10/25 The company estimates revenues of £500m pa.

Hydrogen/Ammonia: This is a harder market to asses as an emerging sector. So based on the initial projected feedstock of 20,000 tonnes of hydrogen, let’s value it when it’s used to create Clean Ammonia as that market is very real.
Ammonia production of 110,000 tonnes pa is projected. The last domestic UK ammonia producer closed in 2023 and as of 2027 there’ll be a border levy on imports so this will affect chemical & farming Industries. Annual revenues for ammonia, based on volatile pricing revenues could be between £55-100m pa.

Risks:

Planning: Key regulatory hurdles now overcome with the gas storage license award and designation as a project of national significance… the section 35 has been massively under appreciated by the market and what was initially seen as a regulatory bump in the road on the way to license approvals is in fact a huge positive as the DCO process substantially streamlines the planning process from here on.

Politics: In terms of political risk the offering is diverse enough to be valuable to any government from Labour to Reform so it is in effect apolitical. (Is Reform going to turn down homegrown North Sea gas, domestic graphite for defence and Ammonia for Jeremy Clarkson and the farming community?)

Funding: Firstly, let’s put to bed concerns of the risk of a retail cash raise. The project needs £100’s of millions to build out MESH and that’s not coming from AIM retail: FACT. Short term the £15m funding is in place to satisfy the initial NSTA criteria (my opinion is this will be sidelined once project level funding arrives). As for strategic funding, this has already been stated it will come from global private sector institutions and potentially from GB Energy and National Wealth Fund, both of which have stated a clear mandate to invest in LDES and energy storage.

MESH has a suite of revenue streams offering diversification through products and industries at a time where they’ll be the only domestic producer of graphite and ammonia, they’ll effectively be doubling the UK energy storage capacity at a time of critical need and demand. And it requires little or no government funding (however GB Energy or National Wealth Fund may invest as mentioned in the webinar)
Therefore, in my opinion MESH will change the UK energy landscape and the lives of a lot of investors.

https://t.co/tncT949646

[EnergyPathways @energy_pathways]

We've just posted the following update on our investor hub:

MESH: Harnessing Britain's Wasted Wind Energy to Lower Consumer Energy Bills

Hear from EnergyPathways' #EPP CEO Ben Clube about how MESH can help lower energy bills by harnessing wasted wind energy.

Check out the full video and join in with the conversation at: https://t.co/52RRk97Hqq

#LDES #CAES #EnergyStorage #MESH #EnergyTransition

[EnergyPathways @energy_pathways]

EnergyPathways begins survey identification work in preparation for entering the detailed planning phase of MESH.

#EPP #MESH #EnergyTransition #CleanEnergy #GasStorage #LDES

[G’s World @blueman61]

#EPP @energy_pathways The MESH project is part of the solution to end this absurdity

[Proactive @proactive_x]

$EPP EnergyPathways wins gas storage licence for flagship MESH project https://t.co/K6wNkxMRYp @energy_pathways #EPP

[Bel 🅱️7️⃣8️⃣ @Belcourtoi]

1️⃣ #EPP MESH Project is A Giant Among Giants  … should be £100m+ MC for a start

🛢️Gas production:

Marram is fully appraised gas low CO2 Emission field approximately 46bcf of gas ~ 460 million therms, worth over £500 million (Gas prices currently at £1.2/therm) 

🛢️Gas Storage: 

MESH also boasts a gas storage capacity of 50BCF to 60BCF (500m to 600m therms), potentially tripling to 150 BCF with the addition of Knox and Lowry assets. 

This is an impressive capacity of around 500 million to 600 million therms. Equivalent to 15 TWh to 20TWh, that is well over 2/3 of the UK storage capacity

🇬🇧 This positions it as the largest gas storage facility in the UK.  

✅ Gas Storage Licence now granted

🔋Green Hydrogen: 

With a hydrogen storage capacity of 2.8 TWh (expandable to 8.4TWh), MESH dwarfs other projects.

How will they do it:

💨 Harness the surplus wind energy 

🔋Turn it into Hydrogen 

🔋Store it 

✅ Use it as green source of energy when it’s needed 

🔋Capacity to store 2.8TWh hydrogen

❎ Company is looking to triple that capacity to 8.4TWh.

⛽️ Hydrogen: 20,000 tonnes/year ≈ 20,000,000 kg/year
⛰️ Graphite: 60,000 tonnes/year

💴 Use of benchmark price assumptions:
Hydrogen: cost ranges of £3-£5/kg for green hydrogen by ~2030.
Graphite: Recent UK/Europe natural graphite price around US$1,425/tonne (≈ £1,150/tonne at rough conversion)

💴 Revenue Estimate:

⛽️ Hydrogen:

If we assume selling price = £4/kg (mid-range estimate)
20,000,000 kg × £4/kg = £80,000,000 per annum

⛰️ Graphite:

60,000 tonnes × £1,150/tonne = £69,000,000 per annum

Combined Revenue Estimate

£80m (Hydrogen) + £69m (Graphite) = £149 million per annum

2️⃣ Funding 

💴 #EPP has signed an MoU with a corner stone Fund to finance MESH at multiples the current SP alongside 

🤝 EPP are also in discussion with a  FTSE100 for the provision of project Debt finance

💷 EPP has also access to £15m Debt/ATM facility

All of the above will ensure minimal dilution & funding for the MESH project without the need to Gov funding or tax payers money. Although discussion are ongoing & at pace, nothing is very guaranteed until it is all signed up.

3️⃣Comparison Vs peers:

Comparisons with other gas storage projects underscore MESH’s potential. For instance;

🪫BP’s recent partnership with a Spanish company involves a 25 MW project (200 GWh), making MESH 75 times larger

💷 Star Energy’s 10 BCF facility was valued at £340 million in 2007 (£642 million today). 

💷 #KIST acquired a gas storage asset with a capacity of 17 million therms for £25 million in the summer of 2024. MESH has a capacity of 500m to 600m therms) that is 28 to 35 times bigger. 

🧮This valuation suggests that MESH, with its capacity of 500/600 million therms 28/35 times larger, gives MESH a value at approximately £700m to £875m.

4️⃣Revenue Potential: 

💷 Centrica’s Rough field which is equivalent to the size of MESH(50 bcf capacity) generates approximately £312 million in annual revenue. 

💷 MESH could generate £320m a year from the gas storage alone, and around £360m from Hydrogen, combined this could be a mouth watering £680m a year. 

❎ If the company triples the storage capacity, it could yields 2 billion annually from gas and hydrogen combined. 

Add to the above a Combined Revenue Estimate

£80m (Hydrogen) + £69m (Graphite) = £149 million per annum

5️⃣BOD:

Under Ben’s Leadership FAR reached a market capitalization of A$655 million (£334 million). 

🤝 He secured a joint venture deal with Cairn Energy and ConocoPhillips, valued at $200 million.

🛢️FAR was recognised as the most successful Australian oil explorer for over a decade

🛢️FAR also made the world’s biggest gas discovery in 2014

All for a ridiculous £12m mc .., £100m+ awaits.

[EnergyPathways @energy_pathways]

We've just released the following announcement: EnergyPathways PLC - NSTA decision to offer Gas Storage Licence

Check out the full announcement and join in with the conversation at: https://t.co/U61V1Ipk8t

#EPP

[EnergyPathways @energy_pathways]

EnergyPathways #EPP is delighted to announce it is to be awarded a Gas Storage License (GSL) by the North Sea Transition Authority for its flagship MESH project located in the East Irish Sea and onshore in Barrow-in-Furness.

This decision marks a major milestone in the development of the wider MESH project, with the GSL spanning a substantial offshore area that could support up to 60 large-scale salt storage caverns with potential for multi terawatt-hour scale energy storage and is expected to be Britain’s largest integrated energy storage facility.

The planned MESH Project has already been designated by the UK Government as a project of “national significance” and will comprise compressed air energy storage (CAES), natural gas storage transitioning to hydrogen storage and complementary hydrogen production for clean power and sustainable industry uses.

EnergyPathways plans the following:

·      A natural gas storage facility that will double Britain’s meagre gas storage capacity and provide up to 6 days of national energy supply, securing Britain’s energy future and reducing its over-dependence on expensive gas imports.

·      CAES storage of 300 MW / 55 GWh capacity, which is expected to be Britain’s largest LDES facility. This will provide game-changing “days not hours” of electrical storage, essential to harness the billions of pounds of wind power currently being wasted and passed on to consumer bills;

·      Low-carbon dispatchable power generation that will be far cheaper than the expensive gas-fired power upon which Britain relies and which sets the power prices for all of Britain’s electricity, including renewables;

·      Low-cost hydrogen production capability that will be used to further decarbonise MESH dispatchable power and new sustainable industries planned in Barrow-in-Furness, including EnergyPathways’ proposed graphite production plant; and

·      A project that delivers homegrown energy and requires little or no government support at no added cost to consumer bills.

EnergyPathways, along with its Tier One partners, including Siemens Energy, Costain plc, Wood plc and Zenith Energy will now progress the MESH project to a Final Investment Decision in 2028 and start up by late 2031. The Company has already initiated several funding and capacity offtake discussions.

 EnergyPathways CEO, Ben Clube said:

“I am delighted that we have met the NSTA’s criteria to offer EnergyPathways this crucial Gas Storage Licence, one of only two NSTA energy licence awards in the last two years.

“The UK Government recognises MESH and other forms of long-duration energy storage as having a vital role in lowering energy prices, bolstering energy security and achieving a clean energy system."

#MESH #EnergyStorage #CleanEnergy #LDES #GasStorage @energygovuk @Siemens_Energy @CostainGroup @ZenithEnergy

[MattB @Matt_Butcha]

@BritishAirwSUCK @British_Airways @MoneySavingExp @MartinSLewis BA cancelled our flight home from Portugal in August. Had to stay an extra day before we could fly home. Put in a claim to BA for compensation and refund of hotel costs 10 weeks ago and still not received anything other than one email telling me they are busy. #BAsuck

[MattB @Matt_Butcha]

@harryo Bueller?

[Peter Stefanovic @PeterStefanovi2]

I refuse to stop. I will not give up. This is a make or break moment for parliamentary democracy. I will not stand by whilst this Government strips back our right to protest and uses an unprecedented abuse of power to get away with it. If you’re with me RT this widely

[Carol Vorderman @carolvorders]

We are entering FREEDOM WEEK.

This govt is pushing through statutory instruments which mean a minister can effectively decide law without recourse to Parliament on your pensions, consumer rights & freedoms & 4,000 pieces of law.

The first test is this week....and @UKLabour is not, so far, supporting a "Fatal Motion" in the Lords to stop it
Why not?
Please watch @PeterStefanovi2 video RT

[MattB @Matt_Butcha]

@CalebDarwin1 @BethanDarwin @BBCRadioWales Wishing you all the best Caleb 👍

[Led By Donkeys @ByDonkeys]

We've found Michelle Mone's yacht

[MattB @Matt_Butcha]

@MarinaPurkiss @simonpegg I have always liked you @simonpegg and you just went up in my estimation for speaking out. 🙌👊❤️

[Dino Sofos @dinosofos]

Possibly the greatest moment in the Today programme’s history courtesy of Miriam Margolyes.

[MattB @Matt_Butcha]

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[James B Watt MBE @JamesBWatt]

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