4 March 2024

MOLECULAR ENERGIES PLC

("Molecular" or the "Company")

Strategic progress in Green House Capital Group

EIS advance assurance granted

Molecular Energies (AIM: MEN), the international energy company, provides an update on Green House Capital Group PLC (Molecular 75% shareholder).

Key Points:

·   Green House Capital Group ("GHC"), has received advance assurance from HM Revenue & Customs ("HMRC") for prospective investment under the Enterprise Investment Scheme ("EIS")

·    Further strategic progress set out in a new verified GHC Investor Presentation published on website of GHC at www.ghcplc.com

GREEN HOUSE CAPITAL GROUP

EIS

GHC has been granted advance assurance for prospective EIS investment under the UK government initiative which encourages investment in qualifying early-stage companies by offering tax benefits to qualifying investors who subscribe for new shares in the GHC.

Subject to certain conditions being met by the company and the investor, the scheme enables a qualifying investor with a UK tax liability to claim income tax relief in the UK of up to 30% of their investment, subject to a maximum investment of £1 million per tax year. In addition, when investors sell EIS shares, any growth in value from an investment is potentially free from UK capital gains tax (to qualify for this relief, income tax relief must have already been claimed - and not withdrawn by HMRC. Investors also have to hold the shares for at least three years, and the company must remain EIS-qualifying for at least three years). Further details about EIS can be found here. Prospective EIS investors should seek their own tax and financial advice.

Based on the EIS advance assurance given by HMRC, the directors of GHC also believe that an investment in the company would constitute a 'qualifying holding' for a Venture Capital Trust ("VCT").

This is a positive development for GHC and its future funding plans, whether through IPO or other new share issue as an independent company to enable the expansion and growth of the business.

STRATEGIC PROGRESS OF GHC

GHC is pleased to announce that material progress has been made in various businesses of that Group. A summary is set out below and more details are described in the Investor Presentation.

Hyso

-    Internationally applicable biochar carbon removal projects with significant potential for carbon offsets and products for agriculture, cement, and asphalt industries. Targeted to commence production in H2 2024

-      Feedstock and offtake agreements in place

Dual Fuel

-      Testing shows 31% diesel retardation (reduction of diesel displaced by hydrogen)

-      Further shows 29% increase in fuel efficiency giving more energy produced per unit of fuel

-      Company moving into mobile dual fuel and hydrogen mobile generators for off-grid contractors and plant hire businesses

-      Offtake clients in place

-      Business with international applicability anticipated to commence in latter part of 2024

Aton 6

-      Advanced negotiations with significant clients for company services in a wide variety of sectors

-      Business model of medium-to-long-term contracts with positive cash flow

-      Benefits from inter-group and related party businesses

Peter Levine, Chair, commented:

"The MEN Board believes that significant value has already been generated throughout the Green House businesses. The grant of EIS advance assurance from HMRC is a important milestone that will assist in funding the growth and expansion Green House.

"We look forward to being able to report on further progress as soon as possible."

For more information, please visit www.molecularenergiesplc.com or contact:

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 an oil and gas project to the green and alternative energy sector.

The Company currently has an oil exploration asset in 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 direct through Molecular and 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 18.8%.

With a strong strategic and institutional base of support, no third-party financial debt and a 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.

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