TIDMATOM
ATOME Energy PLC
13 February 2023
13 February 2023
ATOME ENERGY PLC
("ATOME", "the Company", or "the Group")
Paraguay National Electricity Administration (ANDE) Reports on
London Visit
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, notes the
announcement by Paraguay's National Electricity Administration
("ANDE") concerning a top level visit to the UK which concluded
last week. A translation of the announcement is set out below.
Paraguayan electricity opens doors for investments worldwide
The president of the National Electricity Administration, Eng.
Félix Sosa, accompanied by the Director of Planning and Studies,
Eng. Tito Ocariz, and the Financial Manager, Lic. Sonia Rojas,
participated in round tables with investors, bankers, engineers and
representatives of the British government, during a recent working
visit to London.
The purpose of it was to deepen and promote the potential of
green hydrogen in Paraguay, as well as its value chain. Mr. Félix
Sosa presented the state of the Paraguayan electricity system, the
level of investment that ANDE is developing and the potential
provided by clean and renewable electricity for the development of
the country.
The delegation headed by the head of ANDE held working meetings
with the investors of the ATOME Paraguay project, led by Mr. Peter
Levine (President) and Mr. Olivier Mussat (CEO) of that company,
who were accompanied by the Project Manager of Paraguay, Mr. Juan
Pablo Nogués.
The ATOME project in Paraguay advances with the engineering
design for the green ammonia plant (derived from green hydrogen) in
the city of Villeta, where it will have the capacity to produce up
to 100,000 tons of green ammonia per year, with a projected start
by 2025. This plant includes an investment of approximately USD 200
million and the creation of approximately 4,000 jobs directly and
indirectly. The ATOME project in Villeta for its first phase aims
at about 120 MW of power, for the production of hydrogen and green
ammonia.
In addition, representatives of the engineering companies AECOM,
URBAS Energy and CASALE participated in the meetings. These
companies are assisting in the design of the processes and
construction engineering of the ATOME industrial plant. The team of
engineers gave the details of the potential of green ammonia in
Paraguay and mentioned that green ammonia can be used as a raw
material for the production of national green fertilizers at a
lower cost and with zero carbon footprint.
Currently, Paraguay, whose economy is highly dependent on the
agricultural sector, imports more than 1.4 million tons of
fertilizers per year worth more than USD 600 million. According to
the engineers responsible for the project in question, the green
product will supply a large part of the country's ammonia
fertilizer market, thus creating a national product at a more
competitive price for the agricultural sector, thus promoting
greater agricultural productivity. Moreover, it was indicated that
Paraguay could become a net exporter of fertilizers.
The president of ANDE and delegation also visited the factory of
Clean Power Hydrogen (CPH2), a hydrogen technology company listed
on the London Stock Exchange, located in the city of Doncaster,
accompanied by the Ambassador of Paraguay in the United Kingdom,
Genaro Pappalardo. During the visit they observed the progress of
the 1 MW electrolyzer that the company ATOME is building for the
project focused on the decarbonization of the transport sector in
Paraguay.
The ATOME electrolyzer is planned to arrive in Paraguay by the
beginning of the second half of this year and will initially be
producing 450 kg of green hydrogen per day, to supply light
vehicles powered 100% hydrogen and heavy-duty trucks that will be
powered by a mixture of green hydrogen and diesel, thus reducing
dependence on imported fossil fuels and, therefore, improving air
quality.
In working meetings, President Félix Sosa explained to the bank
Natixis about the robustness of the Paraguayan electricity system,
the competitive rate offered by ANDE worldwide and the amount of
investments indicated in the ANDE Master Plan 2021 - 2030 for
Transmission and Distribution, and 2021 - 2040 for Generation
Works. The head of ANDE also indicated that financing for
infrastructure works has been increased from an average of USD 50
million during the first decade of the century to an average of USD
300 million during the last three years, and for this year, the
goal is to exceed that amount. These investments will be key to
providing reliability and robustness to the system and also to be
able to take advantage of 100% of ITAIPU's energy that corresponds
to Paraguay.
Finally, the president of ANDE held an audience with Minister
Andrew Bowie, from the Department of International Trade of the
British government. Both indicated their full intention to
strengthen the exchange of knowledge between countries to encourage
investment in the green hydrogen sector to meet joint goals of the
countries, such as the decarbonization of the energy sector and the
use of national electricity for its sustainable development.
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)
Cameron Duncan, 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, atome@tavistock.co.uk
Charles Baister
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 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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