Corcel PLC

("Corcel" or the "Company")

Gas Peaker Update

4 February 2022

Corcel, the natural resource exploration and development company with interests in battery metals and flexible energy generation and storage, announces an update to its interest in two UK gas peaker assets.    

As previously announced on 8 November 2021, the Company had agreed with FPC Electric Land to extend its 100% rights over the Avonmouth project to 1 February 2022. To allow discussions with potential funding providers additional time to conclude, both parties have mutually indicated that they consider the existing agreement and rights extended, though no formal extension documentation has been executed at this time.    

Separately, the owners of the Tring Road Project, where Corcel owns 40%, have agreed to extend the leasing rights to the site with the landowner and have completed a lease extension agreement. 

The Company continues in active discussions with several potential investors and sources of funding for the gas peaker projects and will update the market on further developments in due course.    

Scott Kaintz 020 7747 9960                                                    Corcel Plc CEO 

James Joyce / Andrew de Andrade 0207 220 1666               WH Ireland Ltd NOMAD & Broker

Simon Woods 0207 3900 230                                                   Vigo Communications IR 

This announcement contains inside information under Article 7 of Regulation (EU) 596/2014.