ATOME Energy PLC (AIM:ATOM) has set out an ambitious list of targets for the next six months as it moves forward with its green ammonia and hydrogen projects in Paraguay.
Notably, the AIM-listed group is targeting extended power purchase agreements in Paraguay, site clearance at Villeta and the start of electromechanical works and receipt of the design and engineering study ahead of a final investment decision.
ATOME added that Phase 1 of Villeta is on track to commence main site construction by mid-2023 with a view to commissioning the facility by-end 2024/first part 2025.
Advanced discussions with global off-takers are taking place for its hydrogen and ammonia.
In Iceland via its Green Fuel subsidiary, detailed discussions are also underway with all the major power providers.
ATOME's new mobility division, meanwhile, is progressing on track with its first 1MW electrolyser currently being built in the UK and scheduled for commissioning by the end of first quarter 2023, with first revenues projected in that year.
Peter Levine, chairman and Olivier Mussat, CEO, hailed the progress over the first six months of 2022.
"Since the start of the year we have added a significant industrial scale project in Villeta, Paraguay, to our portfolio of projects of now some 500MW in potential size, signing a landmark power purchase agreement giving us 24/7 baseload electricity at prices that allow us to compete on a worldwide stage, as well as creating a separate mobility division with electrolyser ordered with first revenue scheduled for 2023.”
Losses in the half year to June 2022 were £2.5mln (£591,000) with cash at the period end of £1.6mln.