ATOME Energy PLC (AIM:ATOM) said it is looking to complete front-end engineering design (FEED) of its Villeta green hydrogen project in Paraguay and begin construction in the first half of next year.
In a statement ahead of its annual shareholder meeting today in London, the AIM-listed company said that is targeting the appointment of a FEED contractor for Villeta by the third quarter of this year and aims to make a final investment decision on the project by the end of 2022, after hiring AECOM to oversee the project earlier this month.
ATOME said it is also in advanced discussions with prospective offtake customers, with “firm interest” shown in all of its prospective Paraguay production, including a potential 300MW from its other project in the country, Itaipu/Iguazu.
Over in Iceland, it reported “detailed discussions” with power providers and “broad political support” for its hydrogen and ammonia projects.
The mobility division, which was launched in February to serve road transport and shipping industries, has ordered its first 1MW electrolyser, which is scheduled for delivery from the UK manufacturer at or around the turn of this year to allow potential first revenues in the first half of next year.
All this activity is “what we believe sets us apart”, chair Peter Levine will say at the AGM later.
“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.”
Since being spun out of President Energy and onto London’s junior market last year, Levine said, “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.”
He noted that the UK Ambassador to Paraguay, Ramin Navai, will address an invited audience of renewable energy analysts to discuss Paraguay and the company's projects in the region on Thursday, with the discussion to be filmed and published on the company's website shortly thereafter.