Shares of energy transition company EnergyPathways (LSE:EPP) tumbled nearly 46% on Thursday after the North Sea Transition Authority (NSTA) refused to grant the firm a licence for gas storage.
The decision impacts only the natural gas and hydrogen storage components of EnergyPathways’ MESH project, the company said.
The MESH initiative is a major UK-based energy storage hub, designed to accommodate natural gas, hydrogen, and compressed air.
EnergyPathways confirmed it will assess the possibility of resubmitting its licence application to the NSTA.
This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.
Leave a Reply