TIDMATOM
RNS Number : 5341Q
ATOME Energy PLC
29 June 2022
29 June 2022
ATOME ENERGY PLC
("ATOME", "the Company", or "the Group")
AGM Trading Update
ATOME Energy PLC (AIM: ATOM), the international company focused
on green hydrogen and ammonia production, sales and marketing with
current projects in Iceland and Paraguay, will hold its 2021 Annual
General Meeting at 11:00am today at the Army & Navy Club, 36
Pall Mall, London, SW1Y 5JN. Prior to the meeting, the Company
provides a Trading Update as follows:
ATOME continues to make good progress on all of its projects. In
particular:
-- Following the signing of the 60MW power purchase agreement for its Villeta Project, ATOME, working in conjunction
with its appointed Owner's Engineer, is targeting the following milestones for its Villeta project:
--
-- Appointing FEED contractor by Q3 2022
-- FEED completion by Q4 2022
-- Final Investment Decision by end of 2022
-- Commencement of construction works phase by H1 2023
-- ATOME is upscaling its Itaipu/Iguazu project to 300MW (an increase of 50MW) and is in substantive discussions
with relevant stakeholders
-- The Company is also in advanced discussions with offtakers, with firm interest shown in all of ATOME's
prospective Paraguay production
-- The Company is on the ground in Iceland, in detailed discussions with all the major power providers, and is
receiving broad political support for Green Fuel's hydrogen and ammonia projects
-- ATOME's new mobility division is progressing on track with its first 1MW electrolyser currently being built in
the UK and scheduled for delivery as anticipated at or around the turn of this year, with first revenues
projected in H1 2023
At the meeting, Peter Levine, Chair, will make this statement to
attending shareholders:
"ATOME has come a long way in a very short space of time since
its successful IPO on AIM in December last year, where it remains
the only dedicated green hydrogen, ammonia, and fertiliser company
on the market. We are not only proceeding to deliver on flagship
projects, stated at the time of IPO, but we are expediting a new
major 60MW hydrogen, ammonia and fertiliser project as well as
ordering the first electrolyser from a UK supplier for our newly
created mobility division.
"Recent world events, particularly those in Eastern Europe, will
inevitably have long-lasting effects for the global economy, energy
security, fossil fuel and fertiliser prices, and food and
agriculture. As a result, our totally green-focused company is very
much at the right time and in the right place to provide
competitive, cost effective early solutions for food and energy
security located in stable, specifically selected jurisdictions,
incurring zero emissions and at the leading edge of the
decarbonisation drive.
"ATOME's projects also make use of already available 24/7
baseload renewable energy without having to build out increasingly
expensive solar or wind power generation and infrastructure which
gives the Company critical first mover advantage. Located in areas
with available domestic markets, together with export options,
ATOME has covered the key bases with our projects now being
mobilised.
"This means that our recently announced Villeta large-scale
project is expected to conclude the front-end engineering and
design stage (FEED) before the end of this year, with the final
investment decision (FID) coming shortly thereafter and
construction commencing before this time next year.
"This is what we believe sets us apart. We will continue to
accelerate significant projects, leveraging first mover advantage,
with a laser focus on milestones for delivery, while expanding our
business to reflect and respond to end market requirements.
"The year 2021 was the start of our journey. In that short time,
we have become one of the most advanced new hydrogen and ammonia
focused companies in terms of planned timescale for delivery, with
our production of green molecules targeted to arrive in a
fast-expanding market with limited supply. The rest of the current
year promises dynamic progression, news flow and a continued
expansion of our business.
"Finally, I am pleased to announce that Her Majesty's UK
Ambassador to Paraguay, Ramin Navai, will be addressing an invited
audience of renewable energy analysts to discuss Paraguay and the
Company's projects in the region. Representatives of ATOME will
include our CEO, Olivier Mussat and myself. The discussion will
take place at 11:00am on Thursday 30 (th) June and will be filmed,
with an edited version published on the Company's website shortly
thereafter. Details will be available at www.atomeplc.com."
ATOME is at the forefront of the green hydrogen, ammonia, and
fertiliser revolution and is confident that its carefully focused
business model will deliver substantial positive results.
We look forward to the future with confidence.
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, Kane Collings +44 (0) 20 3100 2000
SP Angel (Joint Broker)
Richard Hail, Caroline Rowe +44 (0) 20 3490 0470
finnCap (Joint Broker)
Christopher Raggett, Tim Harper +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
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-
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