Appointment of CEO of Green House Capital

Molecular Energies PLC

25 September 2023

 

25 September 2023

MOLECULAR ENERGIES PLC

("Molecular" or the "Company")

Appointment of Chief Executive Officer of Green House Capital Group PLC

Molecular Energies (AIM: MEN), the international energy company, is pleased to announce the appointment of Christopher Raggett as Chief Executive Officer of Green House Capital Group PLC ("GHC"), a 75% subsidiary of Molecular, which it intends to spin out by way of an initial public offering on the AIM Market of the London Stock Exchange in Q4 this year.

Christopher, who has joined with effect from today, has over 15 years of experience in energy and corporate finance. Until recently he sat on the Group Executive Committee of finnCap Group plc - an AIM quoted financial services firm incorporating capital markets, M&A, private capital and debt advisory services. He was also Head of Energy and Natural Resources and Co-Head of Corporate Finance at finnCap Capital Markets Limited (subsequently Cavendish Capital Markets Limited following a merger with Cenkos Securities plc), which is the largest Nominated Adviser and Broker on AIM by number of clients. Prior to joining finnCap, Christopher was a solicitor at a multi-national US-based law firm. In September 2022, Christopher was appointed to the board of net-zero energy consultancy, Energise Ltd.

Peter Levine, Chairman of Molecular Energies plc, commented: "I have worked with Chris for many years now and have seen first-hand how his insightful, down-to-earth and pragmatic business sense and strong network in the energy industry can help companies to grow. I am delighted he has decided to embark on a new complementary career and become CEO of this exciting business. The capital markets experience and passion for business that Chris has will be invaluable as Green House Capital builds upon the momentum already established."

Christopher Raggett, Chief Executive Officer of Green House Capital, commented: "I am extremely excited to be joining Green House Capital. There are vast opportunities in the green energy space and a distinct need for strategic vision and direction to help entrepreneurs affect change while maintaining financial discipline. I am looking forward to helping the excellent existing portfolio within Green House achieve its potential and to growing the business even further."

For further information, please visit www.molecularenergiesplc.com or contact:

Molecular Energies PLC Peter Levine, Chairman Rob Shepherd, Finance Director	[phone] [e-mail]
Cavendish Capital Markets Limited (Nominated Adviser and Broker) Simon Hicks, George Dollemore	[phone]
Green House Capital Group PLC Christopher Raggett	[phone] [e-mail]
Tavistock (Financial PR and IR) Simon Hudson, Nick Elwes, Charles Baister	[phone]

Notes to Editors

About Molecular Energies

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.

-ends-

 

END