ATOME Mobility Update

RNS Number : 4555D

ATOME Energy PLC

03 March 2022

 

3 March 2022

ATOME ENERGY PLC

("ATOME" or the "Company")

ATOME Mobility Update

ATOME Energy (AIM: ATOM), the international company focused on green hydrogen and ammonia production, sales and marketing with current projects in Iceland and Paraguay, provides an update on mobility operations in Paraguay. ATOME Mobility is dedicated to providing a clean energy solution for road transport and sh ipping , two hard-to-abate industries where battery alternatives cannot provide effective solutions using   present technology.

Appointment of AECOM

ATOME is pleased to announce that it has appointed AECOM to provide engineering consultancy services in respect of UK procurement of core equipment for ATOME Mobility. AECOM is a US based multi-national Fortune 500 infrastructure consultancy firm with nearly 50,000 employees worldwide.

Procurement Progress

Significant progress is being made in the procurement of core equipment for ATOME Mobility, with the business on track to commence transport operations, initially in Paraguay, before the end of Q2 2023. Further announcements are anticipated in due course.

At the same time, material progress is being made in discussions on the sourcing of non-equity funding for core equipment procurement and the Company has well-founded confidence that this can be put in place at the appropriate time.

Market Discussions

In parallel, discussions have taken place with a number of potential end users and the company is clear that the significant interest being shown in ATOME Mobility can be converted into concrete offtake arrangements.

Olivier Mussat, CEO of ATOME, commented:

"Since we announced the creation of ATOME Mobility, we have made great progress and are targeting the first part of 2023 as commencement of business. The appointment announced today of AECOM as the provider of engineering services is an important step in maturing our mobility business, with more substantive news to follow.

"In the meantime, good progress on our major projects now totalling 350 MW in Iceland and Paraguay continues, with potential for more, and I look forward to updating the market on these in due course.

"Whilst commenting on ATOME Mobility, it would be wrong of me not to observe that recent world events have underlined the need for a green non-fossil fuel reliant future. It has also highlighted not only the expected material increase in demand for green hydrogen and ammonia that we plan to produce in Europe and the Americas, but also the cost competitiveness compared to other energy solutions."

Craig Edwards, Managing Director - Environment & Ground Engineering, UK & Ireland, AECOM, commented:

"We are excited to work with ATOME, bringing our breadth of technical expertise to support the deployment of innovative electrolysis equipment that will be key to advancing the decarbonisation of sectors including industry and agriculture. Accelerating the switch to new energy solutions is critical for reaching net zero and we remain committed to working with clients to help them advance the technologies and projects that will cut carbon emissions."

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)	[phone]
Richard Hall, Caroline Rowe
finnCap (Joint Broker)	[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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