ATOME Mobility to commence business in 2023

RNS Number : 9508A

ATOME Energy PLC

08 February 2022

 

For immediate release

8   February 2022

ATOME ENERGY PLC

("ATOME" or the "Company")

ATOME Mobility, a new division created with a view to commence operations

in Paraguay in 2023

ATOME Energy (AIM: ATOM), the international company focused on green hydrogen and ammonia production, sales and marketing with current projects in Iceland and Paraguay, announces that it has created a new division within the Company, ATOME Mobility, with the objective to commence transport operations, initially in Paraguay, in 2023.

ATOME Mobility

ATOME has created a new division, ATOME Mobility, which in Paraguay is dedicated to providing a clean energy solution for heavy road transport and shipping, two hard-to-abate industries where battery alternatives cannot provide effective solutions using present technology.

ATOME Mobility will initially focus on hydrogen energy supply to the road transport sector from the main areas of population. Negotiations are proceeding with a number of potential suppliers of equipment with the objective of commencing this part of the business by the end of H1 2023. It is anticipated that the funding for ATOME Mobility in Paraguay will be sourced through the Group's existing resources. 

Part of ATOME Mobility's business plan is to co-invest and/or co-venture in the end market with operators in order to educate and promote the use of ATOME's clean energy in Paraguay first. Discussions in this regard are progressing with MOUs expected to follow.

This new division runs in parallel with the planning for ATOME's large scale green hydrogen and ammonia businesses in Paraguay and Iceland which remains on track and on schedule.

Olivier Mussat, CEO of ATOME, commented:

"ATOME Mobility's initial objective is to provide an integrated heavy goods transport offering bringing together vehicle manufacturers, haulage companies, financial solutions and end users in a closed loop all benefiting from ATOME's green hydrogen.

"To achieve Net Zero, the decarbonising of transport has been idenditifed as a priority by both Paraguay and Iceland in their national climate strategies. Companies are also under increasingly under pressure from stakeholders and funders alike to minimise the emissions involved in distributing their products globally. This is particularly the case where the parent companies are from Europe or America.

"Recognising that the production of green energy is only part of the matrix, ATOME Mobility aims to provide an integrated solution to accelerate the path for transition to zero emission green energy for all stakeholders whilst embedding ATOME as the fulcrum of change."

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
SP Angel (Joint Broker) Richard Hall, Caroline Rowe finnCap (Joint Broker)	[phone] [phone]
Christopher Raggett, Tim Harper
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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