Publication of Research

RNS Number : 1491A

ATOME Energy PLC

31 January 2022

 

31 January 2022

ATOME ENERGY PLC

("ATOME" or the "Company")

Publication of Research

ATOME Energy (AIM: ATOM), the international company focused on green hydrogen and ammonia production, sales and marketing with current projects in Iceland and Paraguay, is delighted to announce that finnCap have initiated research on the Company this morning.

ATOME Energy is the first green hydrogen and ammonia production company to list in the UK after being spun-out of President Energy. It is pursuing two significant 'advantaged' projects that provide investors direct exposure to green hydrogen and ammonia outside of the normal electrolyser/fuel cell OEM route. The two early-staged projects in Iceland and Paraguay have a capacity of 350MW and both offer access to advantaged renewable energy supplies, with production expected for late-2023 and early-2024 respectively.

The £9m of equity raised at IPO should be sufficient to fund ATOME through to final investment decision on the projects before the end of the year. Green hydrogen and ammonia are seen as critical fuels for decarbonising the hard-to-abate heavy transport, marine and industry sectors if we are to achieve net zero by 2050. Following the major surge in natural gas prices, and with electrolyser costs falling as the technology progresses, large-scale green hydrogen production from renewable sources is now competitive with 'grey' hydrogen produced from natural gas.

The research is available on the finnCap research portal at https://www.finncap.com/research-portal#/portal/finncap

For further information regarding ATOME, all existing and potential shareholders are invited to visit ATOME's website at  www.atomeplc.com  as well as the Company's official Twitter (@atomehydrogen) and LinkedIn profiles.

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

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

Notes to Editors

ATOME Energy Plc is an AIM listed company targeting green hydrogen and ammonia production with up to 350-megawatt 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.

ATOME has commenced 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 including national power companies, to use electricity generated from existing geothermal sources in Iceland and hydroelectric power in Paraguay. Both 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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