Germany & Paraguay Cooperation on Green Hydrogen

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

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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