Ian

[Aimless @Aimless_now]

1/ A few observations on recent developments around @energypathways

Facts only. Sources and links below.

Then you can decide whether any dots are worth joining.

@CostainGroup @Siemens_Energy @hazergroupltd @KBRincorporated @BarrowRising @NatWealthFund @gbenergy

🧵👇

[CCR @chris_clash]

@Borg74 Well said @Borg74 this man is astute #EPP @energy_pathways is basically going to be a massive contributor to #UKEnergy it's of National significance.

[Share_Talk ™ @Share_Talk]

Imagine this: @energy_pathways (AIM #EPP) A UK Small-Cap company with an energy storage project in a safe jurisdiction, deemed “Nationally Significant” by the Secretary of State, awarded a vital gas storage license by the NSTA, partnered with Siemens Energy, Wood and Costain and signing port deals with the Association of British Ports.

They’re set to build the largest energy storage facility in the UK and the largest CAES project in the world at a time of critical demand, they’ve just released figures (corroborated by Siemens Energy) projecting a NPV8 of over a billion pounds for a modest proportion of their revenue streams and last week they met with government bodies at Number 10, DESNZ and the Department of Business and Trade (as well as global financial institutions/banks)… Despite this, they’re valued at a mere £21m market cap… Why?
🔗 Read the full update here: https://t.co/v77qnrtYTk @RedditDeluxe

[Jangada Mines Plc @jangadamines]

#JAN reports high-grade drill results from the Molly Gold Project, Brazil - Highlights include:
• 20.7 g/t Au at Molly 1
• New discovery at Molly 2
• Expanding gold-polymetallic corridor open along strike and at depth
Management believes Molly could become a significant Tapajós Gold Belt discovery, with further results pending. #goldmining #gold #goldequities #exploration

[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

[Bel 🅱️7️⃣8️⃣ @Belcourtoi]

Another big step forward for #EPP

The MESH Project is set to become the UK’s largest integrated energy storage project, combining compressed air, natural gas & hydrogen storage to strengthen energy security and cut consumer bills.

MESH isn’t just an energy project, it’s an industrial growth engine for Barrow-in-Furness. ⚙️🏗️

Plans being explored at ABP’s Port of Barrow include hydrogen production, graphite processing, export facilities and offshore storage infrastructure.

#EPP is already backed by a Tier-1 partner group including Siemens Energy, Wood, Costain and Zenith Energy,

[Reddit Investor @RedditDeluxe]

#EPP Webinar Friday 15th at 4pm

[EnergyPathways @energy_pathways]

We've just released the following announcement: EnergyPathways PLC - Agreement with ABP to locate MESH facilities

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

#EPP

[Reddit Investor @RedditDeluxe]

Great for local engagement with MESH revitalising the North West with new highly skilled jobs #EPP

[Reddit Investor @RedditDeluxe]

Incredible #EPP news after a long wait.

It now sets the company on a trajectory that will be transformative both for investors and the entire UK energy landscape.

I hope my research over the past two years has been helpful and congratulations to the company and those who bought in.

@energy_pathways #Bravo

[Reddit Investor @RedditDeluxe]

So let’s look closer at #EPP EnergyPathways

Progressing and not reliant on the gas storage license:

World’s Largest CAES project (UK’s largest LDES): Based on the storage capacity, output duration and benefitting from massive curtailed wind energy, estimates for revenue pa are around £150m+ (may be higher with cavern expansion and government subsidy or cap and floor benefits)

The Irish Sea has two huge wind farms to come online in the shape of Mona and Morgan. So expansion of the salt caverns with Siemens Energy is likely. Also EPP own the IP for CAES tech.

The project lifespan is 25 years+ so LDES alone is a company maker.

Reliant on Gas Storage License:

Gas Production: Marram alone has 46BCF of gas, based on current spot pricing that’s worth £500m (this doesn’t include Knox or Lowry fields) the figure will be a little lower due to the provision of cushion gas needed to facilitate storage.
46BCF is just natural gas and doesn’t include nitrogen in the mix which will be utilised to create clean ammonia.

Gas Storage: Marram alone has the equivalent storage capacity of Centrica’s Rough Facility 50-60BCF
The revenue value of gas storage is based not just on gas in place, but the opportunity for volatility trading (fill with cheap summer gas to sell on winter peaks)
Based on Marram alone annual revenues are approx £400m+ (but based on the UK’s low gas storage capacity this is conservative)

Hydrogen/Ammonia: This is a harder market to asses as an emerging sector. So based on the initial projected feedstock of 20,000 tonnes let’s value it when it’s used to create Ammonia as that market is very real.
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 could be between £55-100m pa.

Graphite: High grade synthetic Graphite (circa 60,000 tonnes pa) is set to be refined (With Mitsui Japan) to create nuclear/military grade graphite, elevating the price dramatically. Company estimates revenues of £500m pa

EnergyPathways 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 urgent demand. And it requires little or no government funding (however GB Energy or National Wealth Fund may invest)
The offering is also 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?)

The tier one partnerships with Siemens Energy, Wood & Costain give the project credibility in the eyes of the government, as does the fact the world’s and UK’s largest CAES/LDES facility is going ahead at pace and it makes the project very real.

MESH is proposed as the flagship project for EPP and Siemens and “one of many” projects that will target favourable geology/infrastructure in the North Sea Continental Shelf.

The risk is that the storage license won’t be granted… But that would require the government to decline something they critically need and requires little or no taxpayer subsidy. They’d have to have a damn good reason to decline.

The second argument is that “it’s not operating until 2030, so why buy now”, the counter is that at £12m MCAP, when project level funding hits and the GSL is granted and the government and media takes up the story this stops being worth £12m.
The project will no longer be a “retail” focussed stock and with projected yields for investors to be 25% per annum over a 25 year lifespan then pension funds, institutions and family offices take over the register, and they invest for significant and sustained future growth not a quick 10% slice.

[Ian @X1ACX]

@officialdale777 Problem is the replacements will feel like we will be going from the frying pan into the fire.. Labour have no credible leaders

[Ian @X1ACX]

@moving_charlie No Stamp duty is a no brainer, unless you are no brain Reeves.
Think vat 20% on Agents,Solicitors,Surveys and Removals.Then add all the VAT on home improvements and furniture. Then all the Corparation tax on these companies profits and less on benefits because of staff retention

[Lee Harris @LeeHarris]

I agree with every word of this. I don't believe for one minute Labour need *two years* to arrange elections.

They've cancelled them because they know they are going to get annihilated.

Absolute disgrace.

[Ian @X1ACX]

@ArchRose90 What an absolute tool

[Ian @X1ACX]

@emilygartry @NotFarLeftAtAll Can’t cook , won’t cook

[Jangada Mines Plc @jangadamines]

First pictures of drill core from the 15 hole 1800m shallow dd programme at Paranaíta - rich in sulphides and looking exciting! Core to be sent to labs for testing.
#miningbrazil #goldmining #goldexploration #goldequities #buygold #AIM #preciousmetals #brazilianmining #gold

[Reddit Investor @RedditDeluxe]

Another great RNS from #EPP @energy_pathways announcing it has entered into a binding agreement with @hazergroupltd and KBR to commence the first large-scale commercial project under the Strategic Alliance.

The study solidifies the MOU for planned hydrogen and graphite production facilities, to be located in Barrow-in-Furness, as part of the company’s MESH project. It’s worth noting EPP has UK exclusivity for the Hazer/KBR technology.

The planned hydrogen and graphite production facilities target an indicative hydrogen production capacity of 20,000 tonnes per annum (equivalent to 90MW), and also a synthetic graphite production capacity of 60,000 tonnes per annum.

This announcement perfectly compliments the recent RNS from EPP announcing techno-commercial studies with Hazer Group and Mitsui to enhance the graphite produced to battery grade material capable of achieving circa $10,000 per tonne.

The 20,000 tonnes of hydrogen produced will also be used as feedstock to create approximately 110,000 tonnes of clean ammonia per annum.

Currently the UK is reliant 100% on imports for graphite and the last domestic ammonia plant in the UK closed recently. With Graphite being listed as a vital critical mineral by the government and ammonia imports set to be hit with a steep border levy next year the timing couldn’t be better.

https://t.co/dWyPjyQe4C

[Ian @X1ACX]

@moving_charlie I have had interest only since around 1999… it works for mainly entrepreneurs … but as a paye type person it’s probably suicidal

[Ian @X1ACX]

@helen_spirit1 @Keir_Starmer Bet she’s pleased that Prince Andrew is around to save the day, or shall I say Mr. A. Windsor… certainly helping to take some of the heat