TIDMATOM
RNS Number : 6521O
ATOME Energy PLC
02 February 2023
2 February 2023
ATOME ENERGY PLC
("ATOME", "the Company", or "the Group")
New joint venture in Central America
National Ammonia Corporation S.A
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 as well as hydrogen mobility projects, announces a new
joint venture developing green ammonia and fertiliser projects with
the focus on Central America and the Caribbean.
ATOME has entered into a joint venture with Cavendish, the
renewable energy arm of Grupo Purdy S.A., one of the largest
corporations in Costa Rica. ATOME and Cavendish have established a
new enterprise, National Ammonia Corporation S.A ("NAC"), owned
equally with Cavendish and headquartered in San Jose, the capital
of Costa Rica, and which has a mandate to develop projects across
Central America and the Caribbean with its initial focus in Costa
Rica.
Costa Rica is a democratic country and open economy and one of
the greenest countries in the world. The country has a 99%
penetration of renewable electricity and a strong agriculture
sector which is one of the highest fertiliser consumers per hectare
on the planet.
Cavendish, led by its CEO Silvio Heimann, is one of the the
leading participants in the infant green hydrogen market in Costa
Rica with complimentary aims and objectives to ATOME. The
objectives of NAC align with ATOME which is focused on countries
with renewable power resources and capabilities combined with
access to both domestic and international end markets. Costa Rica's
favourable position with ports on both the Atlantic and Pacific
only separated by some 200kms of landbridge make the country a
logistically excellent location.
Through NAC, ATOME aims to capitalise on its capability to roll
out its large scale hydrogen and ammonia production model now being
implemented in Paraguay. In this regard, material and constructive
discussions are already taking place with relevant stakeholders in
the areas of focus for NAC.
Olivier Mussat, CEO of ATOME, commented: "We are excited as to
the potential of NAC. The establishment of NAC shows the clear
intent of ATOME to deploy its innovative business model and
know-how in other geographies."
"With the Villeta Project in Paraguay, we have taken a
significant industry lead that we are able to roll out and
replicate under the right conditions. Our partnership with
Cavendish, a company established by the founders and owners of
Grupo Purdy, offers ATOME a very attractive opportunity with a
strong local partner to accelerate the development of a pipeline of
international scale projects with strong local demand for green
fertilisers."
Silvio Heimann, CEO of Cavendish, commented: "We are energised
to join efforts with ATOME to deliver innovative solutions to the
domestic and regional markets, as this combination of international
expertise provided by ATOME's team fits perfectly well with our
ability to execute locally."
Javier Quiros, partner in Cavendish SA and VP Grupo Purdy S.A.,
commented: "Cavendish was established by the Quiros Family to boost
the development of the green hydrogen technology in Costa Rica and
the region. We see this partnership with ATOME through NAC as a
valuable opportunity to bring our vision to life".
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)
Roland Cornish, Michael Cornish +44 (0) 20 7628 3396
Liberum (Joint Broker)
Scott Mathieson, Kate Bannatyne +44 (0) 20 3100 2000
SP Angel (Joint Broker)
Richard Hail, Caroline Rowe +44 (0) 20 3490 0470
finnCap (Joint Broker)
Christopher Raggett, George Dollemore +44 (0) 20 7220 0500
Tavistock (Financial PR and IR) +44 (0) 20 7920 3150
Simon Hudson, Rebecca Hislaire, Charles Baister 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. 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 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 120MW power purchase agreement with ANDE, the
state energy company in Paraguay for production of green hydrogen
and ammonia targeted to start operations in 2025.
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.
About Cavendish
Cavendish was established in 2022 by the Quiros brothers, a
family committed with the environment and with a long tradition of
supporting innovation. Rooted in those convictions and in order to
focus on developing new energies and decarbonising Costa Rica and
the wider Central American region through long term green hydrogen
investment projects. Led by the group's former CEO, Silvio Heimann,
Cavendish is composed of a rapidly growing team of experienced
developers in the renewable energy space and in the mobility
industry. Since 2019, Cavendish has been operates a fleet of Toyota
Mirais running solely on Green Hydrogen. Cavendish, along with
technological partners, successfully applied for the NAMA Facility
Program to develop innovative solutions for heavy duty trucks in
Costa Rica. The NAMA Facility is a multi donor fund created by the
UK and German governments which to date committed over EUR 668
million to 43 climate positive projects since 2012.
Founded in 1957, Grupo Purdy is a regional leader in the
automotive industry. Headquartered in Costa Rica with an
established a presence in the United States, its has activities
beyond automotive such as insurance and financing.
-ends-
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
JVESSWFWFEDSEDE
(END) Dow Jones Newswires
February 02, 2023 02:00 ET (07:00 GMT)
Atome (LSE:ATOM)
Historical Stock Chart
From Jun 2024 to Jul 2024
Atome (LSE:ATOM)
Historical Stock Chart
From Jul 2023 to Jul 2024