EnergyPathways reported progress across its MESH energy infrastructure strategy during the first half of 2026, including a £15 million financing agreement, a new gas storage license, and the start of engineering work for its long-duration energy storage project.
The financing package consists of a £5 million convertible loan and a £10 million at-the-market equity facility, providing additional capital as EnergyPathways advances multiple energy transition projects toward final investment decisions.
During the period, the company formally accepted Gas Storage Licence GSL009 from the North Sea Transition Authority, covering the storage of both natural gas and hydrogen.
EnergyPathways also started Front End Engineering & Design for its long-duration energy storage, or LDES, project.
The company is developing the broader MESH platform as an integrated energy system incorporating long-duration storage, strategic gas and hydrogen storage, and hydrogen-related industries.
EnergyPathways also reached an agreement with Associated British Ports to evaluate the Port of Barrow as a location for onshore facilities supporting MESH.
The company said it is engaging with the UK Government and other stakeholders as it works to move the LDES, gas and hydrogen storage, and hydrogen-related projects toward final investment decisions.
Post-period developments have added additional engineering and technology capabilities.
EnergyPathways appointed Jacobs as its engineering and regulatory partner and submitted a patent application involving its compressed air energy storage system.
The company also signed a collaboration agreement with Hycamite TCD Technologies to evaluate technology for producing high-grade graphite and low-carbon hydrogen.
EnergyPathways reported a first-half loss of £1.95 million, compared with a loss of approximately £607,000 in the corresponding period of 2025.
The company also strengthened its leadership during the period through the appointment of Alison Flower as a Non-Executive Director and Martyn Millwood Hargrave as Chief Scientific Officer.
The combination of new financing, regulatory progress, engineering work, and strategic partnerships is intended to move EnergyPathways’ projects closer to development while broadening MESH beyond energy storage into hydrogen and graphite production.
