SP Angel’s take on EnergyPathways PLC (AIM:EPP) is that the company has landed an important early-stage partner.
The £12 million developer has signed a non-binding cooperation agreement with Siemens Energy covering long-duration energy storage, specifically compressed air systems that can soak up excess wind power and release it when needed.
SP Angel says Siemens will supply engineering depth and a broad technology portfolio, while EnergyPathways brings its geological storage expertise and intellectual property.
The purpose is to design a modular, scalable system capable of multi-day operation and flexible, low-carbon power generation. The technology would be suitable for global deployment, although SP Angel notes the initial focus is firmly on the UK.
At the centre of the story is wind curtailment, the cost of paying wind farms not to generate when the grid cannot absorb the power.
SP Angel highlights estimates that curtailment costs could reach £6 billion by 2030. EnergyPathways’ model is to tap the 7–8GW of wind capacity planned for the East Irish Sea and pair it with long-duration storage to limit that waste.
The agreement underscores the company’s commitment to developing the Marram Energy Storage Hub, EnergyPathways’ flagship project off Cumbria, the broker reckons.
The partners will begin by exploring long-duration storage and flexible low-carbon power for the site, which the company is broadening to include hydrogen production, graphite manufacturing, and gas production and storage.
In SP Angel’s view, cooperation with Siemens gives EnergyPathways external validation as it builds out the integrated MESH project and looks to position itself within the UK’s clean-power and energy-security plans.