TIDMATOM
RNS Number : 5605O
ATOME Energy PLC
13 June 2022
For immediate release
13 June 2022
ATOME ENERGY PLC
("ATOME" or the "Company")
ATOME appoints AECOM as its Owner's Engineer for the world scale
60MW Villeta Project
ATOME Energy (AIM: ATOM), the international green hydrogen,
ammonia and fertiliser production company with current large scale
projects in Europe and South America as well as its own green
Mobility Division for transport, provides a progress report on its
recently announced, near term, world scale 60MW project in Villeta,
Paraguay ("Villeta Project") .
Highlights
-- Following a competitive bidding process, ATOME has appointed AECOM as its Owner's Engineer for the Villeta
Project
-- Against the background of the growing global energy and food crisis, ATOME moves swiftly to the next stage on its
Villeta Project
-- The Villeta Project already benefits from a signed binding power purchase agreement with 24/7 baseload available
power now
-- AECOM is a US based multi-national Fortune 500 infrastructure consultancy firm with nearly 50,000 employees
worldwide and the necessary multi-discipline resource pool for the Villeta Project
-- AECOM will act as ATOME's representative intended to oversee and deliver the Villeta Project to completion
-- ATOME expects to be in large scale production of green hydrogen and ammonia for the fertiliser market by 2025
-- ATOME's other large-scale projects in Paraguay and Iceland, in aggregate being in excess of 350MW, are
progressing in line with expectations
-- In parallel, ATOME's Mobility Division is progressing its project to generate hydrogen for heavy road transport,
with first revenue generation set for the first part of 2023 onwards
Owner's Engineer
Following its fast-track project development strategy, ATOME has
progressed swiftly after the signing last month of its world-scale
60MW Power Purchase Agreement for its Villeta Project where 24/7
baseload power is available now and has now appointed AECOM as its
Owner's Engineer. AECOM will be tasked with supervising the
delivery of the Villeta Project on time, on budget and identifying
and exploiting opportunities for value engineering.
AECOM, with nearly 50,000 employees worldwide, will provide
ATOME with a skilled resource pool in the relevant competencies
that are required to deliver the Villeta Project. AECOM will first
focus on working with ATOME in the process to make an early
appointment of FEED and potential EPC contractors as well as
assisting on equipment procurement, thereafter supervising the
project to FID which is targeted towards the end of this year. This
will be with a view to delivering the first revenue generation of
commercial, large-scale production of green hydrogen and ammonia to
commence by the end of 2024/early 2025.
In the meantime, AECOM is already leading the engineering for
the ATOME Mobility Division which is expected to start generating
revenue from the first part of 2023 onwards. The Mobility Division
via its production and sales of green hydrogen for the transport
sector, is then planned to expand with more production capacity
being brought on-stream as demand grows and as increasing number
and ranges of hydrogen-powered vehicle types become available.
AECOM
AECOM is a Fortune 500, US headquartered firm with, as stated
above, nearly 50,000 employees worldwide. Its Professional Services
business had revenue of US$13.3 billion in fiscal year 2021 and has
to date engineered and/or constructed more than 280,000 MW of
electricity generation worldwide, equivalent to approximately a
quarter of all generating power in the United States today. AECOM
is committed to green power and the drive to a sustainable
future.
AECOM is currently engaged by ATOME to act as engineer advisor
to its Mobility Division including the procurement of ATOME's first
electrolyser currently being built for it by the UK public company
Clean Power Hydrogen (CPH2) and set for delivery to site at or
around the end of 2022.
ATOME's projects
As well as the Villeta Project, the Company's other major
projects in Iceland and Paraguay are progressing in-line with
expectations and in parallel with the Villeta Project. In both
countries discussions with power providers are progressing well and
further announcements are expected to be made during the course of
this year.
ATOME is gaining traction by demonstrating its capability to
convert words into action and progressing large scale projects into
reality and is actively reviewing a number of additional potential
prospects in varying geographies to expand its portfolio of
production projects in line with its growing reputation.
In the prevailing global energy and food crisis, Atome's timely
major projects for the production of green hydrogen, ammonia and
fertiliser which it is vigorously progressing have particular
relevance as an important part of the much needed matrix of
solutions as well as fulfilling the over arching necessity of being
entirely green.
Olivier Mussat , Chief Executive Officer of ATOME commented:
"Following the signing of the 60MW PPA at Villeta with ANDE
where we have readily available 24/7 baseload power right now, we
lost no time in reaching out to a number of global professional
service engineering firms across the energy and fertiliser sectors.
We were very pleased with the response and level of interest to
lead ATOME's engineering work for the Villeta Project and following
a thorough process we selected AECOM. We selected AECOM not only
because they are one of the largest engineering firms in the world
with demonstrated sector expertise and resources, but importantly
also due to their personal and collaborative approach,
demonstrating that they are results orientated, committed to
ATOME's fast track goals and ready to deliver what we need as
ATOME's Owner's Engineer.
"This appointment with our expanding in-house expertise broadens
ATOME's capabilities, enabling ATOME to progress its ambitious
business expansion plans beyond the original two projects at the
time of our admission to AIM in December last year, both of which
are in any event progressing in line with expectations. Since the
IPO, we have launched our Mobility Division, made our first order
of an electrolyser and are now commencing the recently added
large-scale 60MW Villeta Project. The recruitment of AECOM to our
team to lead engineering for both projects, enables us to consider
other opportunities in diverse geographies as we see the worldwide
demand for green hydrogen and ammonia growing.
"We look forward to working with AECOM in delivering the Villeta
Project."
Jeff Woodward, Global Market Sector Lead - Energy, AECOM,
commented:
"Our latest appointment with ATOME to deliver the exciting
Villeta Project builds on our current work with them on their
Paraguayan Mobility Project. With a 60MW Power Purchase Agreement
already secured, this is a unique project that can quickly scale up
the delivery of green ammonia supplies to decarbonise fertili s er
production.
"We look forward to working with ATOME and global suppliers to
deliver the project using modular principles, which will also aid
the deployment of these types of technologies on similar projects
as suitable renewable capacity comes forward. Aligned to our
ambitious ESG strategy, this scheme draws on our extensive
expertise in supporting the decarbonisation of the industrial
sector and accelerating the switch to new energy solutions,
partnering with our clients on projects that cut carbon
emissions."
Glossary
FEED means front end engineering and design
EPC means engineering, procurement and construction
FID means final investment decision
For more information, please visit https://www.atomeplc.com or
contact:
ATOME Energy PLC +44 (0) 113 337 2210
Nikita Levine, Investor Relations info@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) +44 (0) 20 7920 3150
Simon Hudson, Rebecca Hislaire, atome@tavistock.co.uk
Charles Baister
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.
-ends-
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