ATOME Energy, green hydrogen and ammonia production company, entered a JV with Cavendish in Costa Rica.
ATOME Energy PLC (AIM:ATOM), the green hydrogen and ammonia production company, has entered into a joint venture with Cavendish, the renewable energy arm of Grupo Purdy SA in Costa Rica.
The two companies have established National Ammonia Corporation SA (NAC), a new enterprise owned equally by both firms and headquartered in San Jose, Costa Rica.
NAC has the mandate to develop green ammonia and fertiliser projects across Central America and the Caribbean, with its initial focus on Costa Rica.
Costa Rica, a democratic country with a 99% penetration of renewable electricity, is one of the greenest countries in the world with a strong agriculture sector and high fertiliser consumption.
The country’s favourable position with ports on both the Atlantic and Pacific coasts and its 200km land bridge make it a logistically excellent location for NAC’s green ammonia and fertiliser projects, ATOME said.
Through NAC, ATOME aims to capitalise on its capability to replicate its large-scale hydrogen and ammonia production model in Paraguay.
Chief executive Olivier Mussat said that the joint venture offers ATOME a very attractive opportunity with a strong local partner to accelerate the development of a pipeline of international-scale projects with strong local demand for green fertilisers.
Olivier Mussat, Chief executive Olivier added:
We are excited as to the potential of NAC.
“The establishment of NAC shows the clear intent of ATOME to deploy its innovative business model and know-how in other geographies.”
“With the Villeta Project in Paraguay, we have taken a significant industry lead that we are able to roll out and replicate under the right conditions.”
“Our partnership with Cavendish offers ATOME a very attractive opportunity with a strong local partner to accelerate the development of a pipeline of international scale projects with strong local demand for green fertilisers.”
ATOME is 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 as well as hydrogen mobility projects.
ATOME Energy inks Costa Rica collaboration deal, February 2, 2023
