REG - Molecular Energies - Green House Capital Update

Molecular EnergiesAnnouncement

17/07/2023 07:00

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RNS Number : 1485G  Molecular Energies PLC  17 July 2023

17 July 2023

 

MOLECULAR ENERGIES PLC

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

 

Green House Capital Update

 

Dual Fuel now 100% owned

Expanding to barges

 

Molecular Energies PLC (AIM: MEN), the international energy company, provides
an update on Dual Fuel Limited, the hydrogen mobility engineering company,
being part of its Green House Capital division.

 

Dual Fuel Limited ("DFL")

Further to the announcement of the Company on 29 June 2023, Molecular has now
completed the acquisition of the remaining 50% in DFL which previously was
owned by its engineering and technology partner, G-volution. The transaction
is part of a process of simplifying the Green House Capital structure prior to
the projected spin off and IPO of that division.

 

The acquisition price was for a nominal amount with the beneficial
relationship with G-volution continuing and now extended on the lines of an
exclusive long term commercial engineering and technology provider. All
funding of DFL to date has been made by Molecular by way of inter group loan.

 

Whilst DFL is currently in the midst of engineering a solution to retrofit
existing trucks to use a combination of hydrogen and diesel with the lead
country Paraguay utilising the Group's own generated hydrogen, DFL is now in
parallel moving to engineer a like retrofit solution for barges. Paraguay has
the third largest barge fleet in the world providing fertile opportunities for
DFL.

 

DFL is projecting first revenue in 2024 and the Dual Fuel website can be found
at www.dualfuellimited.com in which site there is an informative presentation.

 

For more information please visit www.molecularenergiesplc.com
(http://www.molecularenergiesplc.com) or 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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