REG - Molecular Energies - Corporate Update

Molecular EnergiesAnnouncement

07/08/2023 07:00

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RNS Number : 4293I  Molecular Energies PLC  07 August 2023

7 August 2023

 

MOLECULAR ENERGIES PLC

("Molecular", "the Company", or "the Group")

 

Rating of Investment Grade A- reconfirmed for Molecular's Argentine Bond

Paraguay progress continues

Further progress at Green House Capital

 

Molecular Energies PLC (AIM: MEN), the international energy company, provides
an update on the investment rating for its Bond in Argentina, its Paraguay
exploration well and on its Green House Capital division.

 

Molecular's Argentine Mini Bond

FIX SCR, the Argentine affiliate of the worldwide credit agency Fitch, has
this month reconfirmed the rating of Molecular's Argentine "mini" bond as
investment grade A- demonstrating the financial credibility of President
Argentina, the Company's oil and gas subsidiary.

 

Oil and gas remains one of the backbones of the Argentine economy. As a dollar
based business with domestic and export sales, President Argentina is in
material respects insulated from the present high inflation in the country.

 

Paraguay Exploration Well

The long distance mobilisation of the Rig to site continues as planned with
presently no material issues or alteration to timescales. The Company
continues to upload to its social media accounts with relevant photographs and
videos showing the progress being made.

 

Spin out and IPO of Green House Capital

Progress continues to be made in this regard with further announcements
expected during the course of the next two months. finnCap, shortly expected
to merge with Cenkos Securities, have been appointed as the prospective Nomad
for the IPO with Crowe LLP appointed as prospective reporting accountants and
Fieldfisher LLP as UK legal adviser.

 

Green House Capital Group PLC ("GHCG")

As part of the continuing work towards the spin out and IPO, Green House
Capital Group PLC, a public limited company, has been incorporated in England
and Wales in order to acquire from Molecular the entire issued share capital
of Green House Capital Limited ("Green House") and then become the entity
whose shares are intended to be admitted to the market in any future IPO.
Prior to the IPO, the shareholding of GHCG will be held 75% Molecular and 25%
Alpha Energies Invest GmbH ("Alpha"), a private fund ultimately beneficially
owned by Peter Levine, being in the same ratios as such parties currently hold
shares in Green House.

 

G-Mobility Limited

Molecular has incorporated G-Mobility Limited as a private company registered
in England and Wales as a subsidiary of Green House.

 

This company has been formed to be the owner and operator of electrolysers and
refuelling systems providing inter alia hydrogen for mobility complimenting
the work of Dual Fuel Limited with the possibility in due course of
fabricating and/or acting as distributor for electrolysers under licence for
South American markets.

 

Aton 6 PLC

Aton 6 has now had its account with the Verra Registry approved. Verra is one
of the few global standard registries for registering carbon offset projects
for the voluntary markets. The registry is where carbon credits verified by
such standards are stored, exchanged and ultimately retired or offset. Aton 6
is now able to trade credits in its own name which is another step towards
revenue generation in 2024.

 

Aton 6 will provide a unique offering of not only developing and benefiting
from trading the Group's own variously generated carbon credits but also is
able to invest in third party carbon offset projects, carry those through to
registration, acquiring already registered credits in the market then trading
those credits to companies and individuals direct or through the internet.

 

Peter Levine, Chairman, commented:

 

"This announcement reflects the breadth of Molecular's interests and the
extent of the work being conducted.

 

"With elections coming up soon in Argentina suggesting a more constructive
approach for the country in 2024, the forthcoming IPO of Green House later
this year and significant advances in that division in the meantime, we are
optimistic for each division of the Group as well as being pleased by the
continued progress of Atome Energy PLC where the group maintains a 20.5%
interest."

 

 Contact:

 Molecular Energies PLC                      +44 (0)20 7016 7950
 Peter Levine, Chairman                      info@molecularenergiesplc.com (mailto:info@molecularenergiesplc.com)

 Rob Shepherd, Group FD

 finnCap (Nominated Advisor and Broker)      +44 (0)20 7220 0500

 Christopher Raggett, George Dollemore

 Tavistock (Financial PR & IR)               +44 (0)20 7920 3150

 Simon Hudson, Nick Elwes, Charles Baister

 

Notes to Editors

Molecular Energies PLC is an AIM listed company at the forefront of energy
development and has interests across the energy spectrum, from oil and gas
projects to subdivisions in the green and alternative energy sub-sectors.

 

The Company has oil and gas production in Argentina as well as exploration
assets in both Argentina and Paraguay. The Company has two separate
subdivisions which are focused on early-stage opportunities in the green
and/or alternative energy sub-sector.

 

Activities in the green and alternative energy space are being carried out
under the Green House Capital brand and through AIM listed Atome Energy PLC, a
green hydrogen, ammonia, and fertiliser company operating in Paraguay, Costa
Rica and Iceland, in which Molecular currently has 20.5%.

 

With a strong strategic and institutional base of support, an in-country
management team as well as the Chairman whose interests as the largest
shareholder are aligned to those of its shareholders, Molecular gives UK
investors access to an energy growth story combined with world class standards
of corporate governance, environmental and social responsibility.

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the
European Union (Withdrawal) Act 2018 ("UK MAR"). The person who arranged for
the release of this announcement on behalf of the Company was Peter Levine,
Chairman.

 

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