Last checked at 7 Nov 2022 07:00
07 November 2022
For immediate release
ATOME ENERGY PLC
("ATOME", "the Company", or "the Group")
ATOME MOBILITY AND PUMA ENERGY PARAGUAY
ATOME Energy (AIM: ATOM), the only pure international green hydrogen and ammonia production company on the London Stock Exchange with current large scale projects in Europe and South America and mobility projects is pleased to announce the entry into a non-binding Memorandum of Understanding ("MOU") with Puma Energy Paraguay S.A. ("Puma") in relation to hydrogen in Paraguay.
Background to Puma
Puma is a company dedicated to the import and distribution of fuels and lubricants having started operations in Paraguay in 2002. It currently operates three terminals and supplies fuel to approximately 200 service stations.
Subject of Memorandum of Understanding
ATOME and Puma have expressed the non-binding wish to co-operate with a view to entering into one or more definitive agreements covering certain potential transactions. The MOU provides a non-binding framework to be used by the parties in discussing the potential transactions referred to below and negotiate the terms of such definitive agreements.
Potential Transactions
The potential transactions referred to above are expressed in the MOU as follows:
a) Test and run clean fuels on trucks that transport Puma's fuel
b) Develop a clean energy supply corridor along Puma's service station network
c) Store and dispatch hydrogen in Paraguay
d) Establish commercial relationships regarding the projects to be developed by ATOME in Paraguay
e) Offtake agreements for hydrogen produced by ATOME for mobility purposes
f) The possibility of testing and running clean fuels on the push boats that provide services to Puma
Olivier Mussat, CEO of ATOME, commented: "Following our recent announcements on the progress made on ATOME Mobility, we are pleased to provide a further update. This MOU with Puma provides a non-binding framework to discuss and negotiate one or more definite agreements centering around use and offtake of our dedicated mobility hydrogen production unit across the Puma network in Paraguay.
"Puma is a reputable established Paraguay energy company with an extensive fuel network in Paraguay. Puma and ourselves recognise the importance of de-carbonisation of road transport in Paraguay. We look forward to proceeding to work with them and establish long term concrete trading relations in order to accelerate the growth of ATOME Mobility."
For more information, please visit https://www.atomeplc.com or contact:
ATOME Energy PLC Nikita Levine, Investor Relations | +44 (0) 113 337 2210 info@atomeplc.com |
Beaumont Cornish (Nominated Adviser) Roland Cornish, Michael Cornish | +44 (0) 20 7628 3396 |
Liberum (Joint Broker) Cameron Duncan, Kate Bannatyne | +44 (0) 20 3100 2000 |
SP Angel (Joint Broker) Richard Hail, Caroline Rowe | +44 (0) 20 3490 0470 |
finnCap (Joint Broker) Christopher Raggett, George Dollemore | +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.
About 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-