Corporate Update

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	[phone]
Peter Levine, Chairman Rob Shepherd, Group FD	[e-mail]
finnCap (Nominated Advisor and Broker) Christopher Raggett, George Dollemore	[phone]
Tavistock (Financial PR & IR) Simon Hudson, Nick Elwes, Charles Baister	[phone]

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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