RCS - ATOME Energy PLC - Germany & Paraguay Cooperation on Green Hydrogen

AtomeAnnouncement

14/11/2022 07:00

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RNS Number : 2213G  ATOME Energy PLC  14 November 2022

14 November 2022

 

ATOME ENERGY PLC

("ATOME", "the Company", or "the Group")

 

Germany and Paraguay discuss cooperation on green hydrogen production

 

ATOME Energy (AIM: ATOM), the only pure international green hydrogen and
ammonia production company on the London Stock Exchange with current large
scale projects in Paraguay and Europe notes the meeting last week between the
Presidents of Germany and Paraguay at which they discussed the importance of
green hydrogen production.

 

Meeting of the Presidents of Germany and Paraguay

ATOME notes the meeting last week, reported in the media, between the
Presidents of Germany and Paraguay at which they discussed, inter alia, the
production of green hydrogen and the needs of Germany to import such fuel in
the future.

 

The President of Paraguay highlighted to his German counterpart the
availability of green hydrogen in Paraguay and the prospects of Paraguay
becoming a strategic partner in this regard with Germany. The Presidents
discussed establishing a joint mechanism and roadmap for the promotion of
green hydrogen with Germany separately announcing that it is now setting aside
€4bln for the import of green hydrogen produced outside of the EU zone.

 

In terms of industrial scale production of hydrogen, ATOME expects to start
its world scale Villeta facility in  Paraguay at the start of 2025 meaning
the country will be one of the largest producers of green hydrogen and ammonia
in the world at that time and, on currently declared projects, one the largest
in South America.

 

Olivier Mussat, CEO of ATOME commented: "The reported discussions between the
Presidents of Germany and Paraguay reinforces ATOME's stated ambition to be at
the forefront of production of green energy at scale and being able to deliver
such energy from Paraguay to Europe well in advance of other major projects.

 

"The EU is already the largest trading partner of the South America Mercosur
trading countries of which Paraguay is a member and ATOME is ideally situated
to play a major role in the supply of cost effective green energy and
fertilizers not only in the Mercosur region but as part of the growing
commercial relations between these two important trading blocks."

 

For more information, please visit https://www.atomeplc.com or contact:

 

 ATOME Energy PLC                                  +44 (0) 113 337 2210
 Nikita Levine, Investor Relations
info@atomeplc.com
 Beaumont Cornish (Nominated Adviser)              +44 (0) 20 7628 3396
 Roland Cornish, Michael Cornish
 Liberum (Joint Broker)                            +44 (0) 20 3100 2000
 Cameron Duncan, Kate Bannatyne
 SP Angel (Joint Broker)                           +44 (0) 20 3490 0470
 Richard Hail, Caroline Rowe
 finnCap (Joint Broker)                            +44 (0) 20 7220 0500
 Christopher Raggett, George Dollemore
 Tavistock (Financial PR and IR)                   +44 (0) 20 7920 3150
 Simon Hudson, Rebecca Hislaire, Charles Baister   atome@tavistock.co.uk

 

About ATOME

ATOME Energy PLC is an AIM listed company targeting green hydrogen and
ammonia production with over 500-megawatt of projects
in Paraguay and Iceland, through its subsidiaries ATOME Paraguay, which is
wholly owned, and Green Fuel ehf, in which ATOME Energy holds a 75 per cent
interest, respectively.

 

Since its admission to AIM in December 2021 ATOME has signed its first
electrolyser purchase order for its hydrogen transport Mobility Division due
to start generating revenue in 2023 and signed a large scale 60MW power
purchase agreement with ANDE, the state energy company in Paraguay for
production of green hydrogen and ammonia targeted to start operations at or
around end 2024.

 

ATOME is in the process of operational planning, sourcing and negotiations
with green electricity suppliers, equipment providers and offtake partners,
including signed memoranda of understanding and cooperation agreements in
place with key parties, to use electricity generated from existing geothermal
sources in Iceland and hydroelectric power in Paraguay. All chosen sites
are located close to the power and water sources and export facilities to
serve significant domestic and then international demand.

 

The Company has a green-focused Board which is supported by major shareholders
including Peter Levine, Trafigura, one of the world's leading commodity and
logistics company, and Schroders, a leading fund manager.

 

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