EnergyPathways Provides Update on its Plans to Deliver Clean, Home-grown Energy for the UK

EnergyPathways plc (AIM: EPP), an energy transition company, is pleased to provide the following update on its plans to deliver clean, home-grown energy for the UK, based around its principal project at the Marram gas field (the "Marram Project") in the East Irish Sea.

EnergyPathways is pleased to report that, following the North Sea Transition Authority ("NSTA") publishing, on 29 May 2024, a notification for Gas Storage applications for an area that includes the Marram Project, it has formally confirmed with the NSTA its interest and intention to make an application for a Gas Storage Licence in the area.

As previously announced, the Company has also submitted "Out of Round" licence application requests to the NSTA in relation to two prospective gas storage areas that incorporate the "development ready" Knox and Lowry gas fields that, like Marram, offer prospective gas storage potential. EPP believes there is a compelling future commercial opportunity to integrate all three potential gas storage projects as the natural follow on from developing the Marram Project and where we see significant benefits in integrating them all at an early stage into EPP's wider growth plans to develop a UK Irish Sea energy storage project - as described in the Company's announcement dated 16 May 2024.

Commenting on the update, CEO Ben Clube said:

"We are pleased to have confirmed our interest with the NSTA for a Gas Storage Licence area covering the Marram Project. We believe that our technical operating experience, coupled with our commitment to environmental stewardship and strategy to transform EnergyPathways into an effective integrated energy transition company, positions the Company well in this application process. We continue to maintain an active and constructive engagement with all relevant authorities as we seek to convey how this gas storage potential fits naturally alongside the Marram Project and our longer-term vision to develop energy solutions that will support many key elements of UK energy policy.

"We look forward to updating the market as and when we discover the outcome of these production and storage licence applications that will allow EPP to realise the potential opportunity of the UK Irish Sea energy storage project."

The Directors of the Company are responsible for the release of this announcement.