EnergyPathways (AIM:EPP) posted a loss of £1.95m for the six months ended 30 June, up from £607,201 a year earlier and above the £1.66m loss recorded for the whole of 2025.
The AIM-listed integrated energy transition company is developing the Marram Energy Storage Hub (MESH), a project at Barrow-in-Furness combining gas and hydrogen storage with a 300 MW compressed air energy storage (CAES) scheme designated of national significance in the UK.
During the period, the North Sea Transition Authority offered, and EnergyPathways accepted, Gas Storage Licence GSL009 covering both natural gas and hydrogen storage, while the company began front-end engineering and design (FEED) work for its long-duration energy storage (LDES) project.
It also signed an agreement with Associated British Ports to assess the Port of Barrow as an onshore site for MESH facilities, and appointed Alison Flower as non-executive director and Martyn Millwood Hargrave as chief scientific officer.
The FEED programme is being funded through a £15m financing package agreed in April, comprising a £5m convertible loan and a £10m at-the-market equity facility.
Since the period ended, EnergyPathways has appointed Jacobs as its engineering and regulatory partner, filed a patent application covering its CAES thermal storage technology, and signed a collaboration agreement with Finland's Hycamite TCD Technologies to evaluate graphite and low-carbon hydrogen production methods for a planned plant at the Port of Barrow.