EnergyPathways notes the initiation of research coverage by SP Angel in the note entitled: UK Energy Storage Player Leading the Pack.

The note provides an overview of the strong market drivers that support our compelling investment case and talks to material near-term value upside on a core NAV basis and Total Unrisked NAV of 320p/sh (c.£1.3 billion market cap.), demonstrating the size of the potential prize from scaling the MESH project.