ATOME Energy PLC, 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 2022
FEED completion by Q4 2022
Final Investment Decision by end of 2022
Commencement of construction works phase by H1 2023
ATOME is upscaling its Itaipu/Iguazu project to 300MW (an increase of 50MW) and is in substantive discussions with relevant stakeholders
The Company is also in advanced discussions with offtakers, with firm interest shown in all of ATOME's prospective Paraguay production
The 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 projects
ATOME'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 30 th 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.