(Alliance News) - Atome Energy PLC said on Tuesday that it has created a new division within the company called Atome Mobility to concentrate on heavy road transport.
The Leeds, England-based company focus on hydrogen and ammonia production said the new division will initially commence transport operations in Paraguay in 2023. Funding for Atome Mobility will be sourced through the group's existing resources, Atome Energy explained.
Atome Energy said that the new division will be dedicated to providing a clean energy solution for heavy road transport and shipping. It will initially focus on hydrogen energy supply to the road transport sector in Paraguay.
The company said negotiations were proceeding with a number of potential suppliers of equipment, with the objective of commencing this part of the business by the end of the first half of 2023.
Atome Energy explained that this new division will run in parallel with the planning for its large scale hydrogen and ammonia businesses in Paraguay and Iceland.
Shares in Atome Energy were down 2.2% at 58.67 pence on Tuesday morning in London.
By Heather Rydings; heatherrydings@alliancenews.com
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Atome Plc (ATOM)