ATOME Mobility Update

RNS Number : 7270S

ATOME Energy PLC

18 July 2022

 

18 July 2022

ATOME ENERGY PLC

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

ATOME MOBILITY UPDATE

UK AMBASSADOR TO PARAGUAY RELEASE OF PRESENTATION TO ANALYSTS

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, announces an update on its Mobility Division in Paraguay.

Site work commences

In preparation for delivery of its first 1MW electrolyser at the end of this year, site clearance has begun at the chosen location for the upcoming installation of the electrolyser hydrogen production unit which is currently being built by Doncaster based Clean Power Hydrogen PLC (AIM: CPH2).

The site is within the greater Asuncion area with first production of hydrogen still scheduled for the first half of 2023 as planned and within budget.

Hydrogen vehicles

ATOME is in discussions with various suppliers of hydrogen-powered heavy goods vehicles with a view to first deliveries during the course of next year.

With the government of Paraguay actively encouraging the growth of electromobility to reduce expensive hydrocarbon imports and take advantage of its abundant green electricity, encouraging discussions are ongoing with end users of such vehicles with ATOME's current business model being based on a leasing arrangement in order to stimulate local awareness and demand and allow for a rapid scale up.

ATOME CEO, Olivier Mussat, commented:

"ATOME continues to demonstrate its intent to be the accelerator in the field of green hydrogen and ammonia with work on the ground already commencing to provide Paraguay with its first-ever commercial green hydrogen mobility solution less than a year from now."

Ambassador event recording

On Thursday 30^th June, Her Majesty's UK Ambassador to Paraguay, Ramin Navai, presented to an audience of renewable energy analysts and discussed Paraguay, its political environment, its role as an economic platform in South America and ATOME's projects in the region.

A recording of the presentation is now released and available to view on the Media page of the Company's website ( www.atomeplc.com ) as well as on the Company's LinkedIn and Twitter profiles.

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

ATOME Energy PLC Nikita Levine, Investor Relations	[phone] [e-mail]
Beaumont Cornish (Nominated Adviser) Roland Cornish, Michael Cornish	[phone]
Liberum (Joint Broker) Cameron Duncan, Kane Collings	[phone]
SP Angel (Joint Broker) Richard Hail, Caroline Rowe	[phone]
finnCap (Joint Broker) Christopher Raggett, Tim Harper	[phone]
Tavistock (Financial PR and IR) Simon Hudson, Rebecca Hislaire, Charles Baister	[phone] [e-mail]

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.

Notes to Editors

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.

-ends-

 

END

 

 

UPDKZGMNRNNGZZM