REG - ATOME Energy PLC - ATOME MOBILITY AND PUMA ENERGY PARAGUAY

AtomeAnnouncement

07/11/2022 07:00

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RNS Number : 4284F  ATOME Energy PLC  07 November 2022

07 November 2022

For immediate release

 

ATOME ENERGY PLC

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

 

ATOME MOBILITY AND PUMA ENERGY PARAGUAY

 

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 Europe and South America and mobility projects is pleased to
announce the entry into a non-binding Memorandum of Understanding ("MOU") with
Puma Energy Paraguay S.A. ("Puma") in relation to hydrogen in Paraguay.

 

Background to Puma

Puma is a company dedicated to the import and distribution of fuels and
lubricants having started operations in Paraguay in 2002. It currently
operates three terminals and supplies fuel to approximately 200 service
stations.

 

Subject of Memorandum of Understanding

ATOME and Puma have expressed the non-binding wish to co-operate with a view
to entering into one or more definitive agreements covering certain potential
transactions. The MOU provides a non-binding framework to be used by the
parties in discussing the potential transactions referred to below and
negotiate the terms of such definitive agreements.

 

Potential Transactions

The potential transactions referred to above are expressed in the MOU as
follows:

 

a)    Test and run clean fuels on trucks that transport Puma's fuel

b)    Develop a clean energy supply corridor along Puma's service station
network

c)    Store and dispatch hydrogen in Paraguay

d)   Establish commercial relationships regarding the projects to be
developed by ATOME in Paraguay

e)    Offtake agreements for hydrogen produced by ATOME for mobility
purposes

f)    The possibility of testing and running clean fuels on the push boats
that provide services to Puma

 

Olivier Mussat, CEO of ATOME, commented: "Following our recent announcements on the progress made on ATOME Mobility, we are pleased to provide a further update. This MOU with Puma provides a non-binding framework to discuss and negotiate one or more definite agreements centering around use and offtake of our dedicated mobility hydrogen production unit across the Puma network in Paraguay.

 

"Puma is a reputable established Paraguay energy company with an extensive
fuel network in Paraguay. Puma and ourselves recognise the importance of
de-carbonisation of road transport in Paraguay. We look forward to proceeding
to work with them and establish long term concrete trading relations in order
to accelerate the growth of ATOME Mobility."

 

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

 

 ATOME Energy PLC                                  +44 (0) 113 337 2210

 Nikita Levine, Investor Relations                 info@atomeplc.com (mailto: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 (mailto:atome@tavistock.co.uk)

 

The information communicated within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulations (EU) No
596/2014 which is part of UK law by virtue of the European Union (Withdrawal)
Act 2018. Upon publication of this announcement, this inside information is
now considered to be in the public domain. The person who arranged for the
release of this announcement on behalf of the Company was Peter Levine,
Chairman.

 

About ATOME

ATOME Energy PLC is an AIM listed company targeting green hydrogen and ammonia
production with over 400-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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