The man financing Britain's clean energy future with uncertainty, policy risk, and things no CFO can control.
As the CFO of one of EnergyPathways' clean energy projects, Max Williams of EnergyPathways has learned that getting money is part of the job.
Since joining the company in April 2025, Williams has overseen the finances of MESH, an £800 million offshore facility that combines long-term energy storage, gas, and green hydrogen production into one integrated facility.
As MESH is in the pre-FEED stage, the challenge is not only in raising capital but in getting the government, institutional investors, and industry partners closer to the Final Investment Decision – and finally, it's done.
A Chartered Accountant with thirty years experience in energy and natural resources, Williams spoke to Global Finance about financing a one-of-a-kind project, the politics of clean energy, and what keeps him up at night.
Global Finance: What is your biggest financial achievement at EnergyPathways (EPP)?
Max Williams: EPP is developing a unique energy storage and supply solution to support Britain's energy transition. The project, called the Marram Energy Storage Hub (MESH), combines long-term energy storage (LDES) with gas storage, while expanding hydrogen plants using its onshore storage facilities. The ability to carry the project forward depends from the initial steps on reliable and continuous support from shareholders who understand and believe in the company's focus.
The signing of a financing agreement with a global institutional investor was an important step for the company that was able to accelerate its pre-FEED (Pre-Front End Engineering Design) work program for both the LDES and gas storage license aspects of its project. Our ongoing engagement with government, industry partners and banks will provide additional funding essential to develop the project beyond the Final Investment Decision (FID). The company has designed a comprehensive project to reduce government subsidies.
GF: What is the biggest challenge in financing MESH operations, an £800 million integrated facility in the UK (off the Lancashire coast)? What do you spend most of your time on?
Williams: The Secretary of State for Energy Security and Net Zero has designated the MESH Project as one of national priority. It is designed to meet clean energy goals and provide employment in the region, partnering with Team Barrow [a public-private partnership that aims to revive this port town in northwestern England] and gaining parliamentary support. The biggest challenge is to ensure that all stakeholders, including the government, are aligned and supportive, enabling the company to meet milestones and ensure adequate funding as development progresses through FEED to FID and initial revenue.
GF: How important is it to you to have a good team, and what defines a good team to you?
Williams: With a new concept project like MESH, success depends on a strong team in all sectors, not only the finance team but also the teams that oversee the technical and commercial activities of EnergyPathways. Project delivery will be an important discipline in planning project funding. In the energy transition space, a good team works efficiently and effectively across the board with clear communication about goals and strategies to achieve them. EPP also benefits from world-class industry partners, including Siemens, Wood Group, and Costain.
GF: How do you see AI affecting your work?
Williams: For a small company with a small team, the use of AI has so far been limited within the accounting function. However, this will improve as the company grows. The company is already using AI to increase productivity and help with project design and implementation. The AI energy management system is an integral part of our development plan, enabling MESH to ensure a reliable and flexible supply of energy to Britain's energy markets.
GF: What advice do you have for aspiring CFOs?
Williams: Being a CFO will always put you at the center of reporting, information flow, and decision making. For EnergyPathways, this means identifying project financing needs and providing appropriate, timely solutions to those needs. Additionally, the CFO ensures transparency to investors and the wider stakeholder community.
GF: What keeps you up at night?
Williams: Matters outside the control of the company. For example, EnergyPathways develops energy storage and supply solutions, providing security of supply with a focus on providing clean energy. MESH project development may require changes in government strategy and policy, and major global factors may affect policy. The MESH project, however, will benefit the UK's future energy supply regardless of the clean energy arguments against the exploitation of the North Sea.
