Net Zero RISE academic – industry consortium

9 December 2021

IGas Energy plc (AIM: IGAS)

("IGas" or "the Company")

Net Zero RISE (Research Infrastructure for Subsurface Energy) academic - industry consortium

IGas is pleased to announce that it has become part of an academic - industry consortium called Net Zero RISE. Its aim is to repurpose existing onshore oil and gas infrastructure as research sites for carbon sequestration, hydrogen storage and closed-loop geothermal technologies.

The consortia brings together Newcastle, Oxford and Durham Universities with industry partners, including IGas and has been established to support the UK's energy transition to Net Zero by reusing onshore infrastructure that is available now.IGas has also recently been invited by the OGA to take on a core role in the Bacton Energy Hub Project's Regulatory Special Interest Group (SIG).

The Bacton Energy Hub is envisaged to play a major role in the UK's energy future through the production of hydrogen from natural gas (with associated capture and storage of carbon dioxide) and from electrolysis powered by renewable and nuclear energy.

The Regulatory SIG is led by Hydrogen East.

IGas will also be contributors to the Infrastructure SIG, led by Xodus and the Hydrogen Supply SIG, led by Summit Exploration and Production. 

Commenting Stephen Bowler, CEO, said

"IGas continues to leverage its existing operational expertise as the UK's largest onshore operator and use its existing assets and skill set to play an important role in the UK's transition to net zero. 

The UK onshore regulatory regime is complex and comprehensive and we have a strong track record of responsible and safe development and ongoing compliance. IGas brings extensive experience of developing complex energy projects to the Bacton project."

For further information please contact:

IGas Energy plc Tel: +44 (0)20 7993 9899

Stephen Bowler, Chief Executive Officer

Ann-marie Wilkinson, Director of Corporate Affairs

Investec Bank plc (NOMAD and Joint Corporate Broker) Tel: +44 (0)20 7597 5970

Sara Hale/Jeremy Ellis/Virginia Bull

Canaccord Genuity (Joint Corporate Broker) Tel: +44 (0)20 7523 8000

Henry Fitzgerald-O'Connor/James Asensio

Vigo Consulting Tel: +44 (0)20 7390 0230

Patrick d'Ancona/Chris McMahon/Kendall Hill