Last checked at 29 Jun 2022 07:00
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 2022FEED completion by Q4 2022Final Investment Decision by end of 2022Commencement of construction works phase by H1 2023ATOME is upscaling its Itaipu/Iguazu project to 300MW (an increase of 50MW) and is in substantive discussions with relevant stakeholdersThe Company is also in advanced discussions with offtakers, with firm interest shown in all of ATOME's prospective Paraguay productionThe 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 projectsATOME'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 30th 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 Nikita Levine, Investor Relations | +44 (0) 113 337 2210info@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) Simon Hudson, Rebecca Hislaire, Charles Baister | +44 (0) 20 7920 3150 atome@tavistock.co.uk |
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.
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