Atome Share Discussion Threads

[bbd2] 01/2/2024 11:25

Blimey, that’s some reaction to a simple name change!

[dk37] 18/1/2024 10:58

Summary form recent note

Longspur Clean Energy
Adam Forsyth

6 pages


ATOME has issued a comprehensive update on its work in Paraguay where it is progressing two green fertilizer projects. Villeta in particular is moving towards completion of multiple milestones including the expected mandating of lead debt arrangers before the end of the quarter and preparing the way towards final investment decision thereafter. We have made some minor changes to our forecast timings but these are within the rounding error on our central case valuation which remains at 242p per s...

[bbd2] 17/1/2024 15:20

Nice update and all going in the right direction. Just need the share price to start doing the same!

[weyweyumfozo] 17/1/2024 14:33

From the RNS:

"The FEED study for the Villeta Project will be completed this Q1.

EPC contract discussions with the main and specialist sub-contractors, led by AECOM, the international engineering consultancy and ATOME's Owner's Engineer, will conclude in the coming weeks. Discussions have been focussed on delivering a lump sum fixed price turnkey contract in order to provide certainty on costs and delivery timelines with AECOM contributing value engineering. This contractual structure being negotiated will create alignment between ATOME and its EPC contractor which has the responsibility for delivering the plant in working order, on the agreed timeline and budget, thereby lowering project risk and increasing its bankability, all of which significantly contributes to maximising project returns."

Good update - at last.

I wonder when we will know who will be manufacturing the electrolysers.

[mcunliffe1] 17/1/2024 13:24

An update from the company was/is needed.

Things are moving too slowly for my liking. Maybe I'm unrealistic but in I.T., before I retired, progress was measured in hours rather than months.

[barony] 17/1/2024 13:09

Terrific update deserving of much more positive impact on the share price

[vatnabrekk] 17/1/2024 08:41

I'm hoping to see a significant rise in the share price in the next few days.

[activmojo] 17/1/2024 07:59

Q1 is going to be busy 👍

[pcok] 17/1/2024 07:36

Tonking update.

[all in eol] 17/1/2024 07:01

17 January 2024

ATOME ENERGY PLC

("ATOME", "the Company", or "the Group")

Update on Paraguay Operations

Excellent progress on multiple workstreams coming to a head in Q1 2024

ATOME Energy (AIM: ATOM), the only international green fertiliser project development company on the London Stock Exchange, provides an update on its Paraguay operations.

Summary:

-- Front-End Engineering Design ("FEED") study and Engineering, Procurement and Construction ("EPC") progressing well and to be concluded in this Q1

-- Multiple offtake proposals received from leading international players with Company in advanced negotiations for offtake of Villeta's full production volume of its green fertiliser with concrete news expected this Q1

-- Company confident in finalising the Villeta Project financing with interest in the debt financing component extending to over 2x oversubscribed and interest from international heavyweight investors in the equity component all at project level

-- Pre-PPA studies in respect of the 300MW Yguazu Project to be completed this month to confirm best location for the project with the 300MW PPA targeted for this H1

145MW Villeta Phase 1, Paraguay

Detailed FEED, EPC, and financing negotiations for this first of a kind project are now in their final stages as management continue to push to achieve the best possible expedient outcome for ATOME shareholders. The Company is pleased to report solid progress continuing across key development workstreams.

FEED and EPC in final stages

The FEED study for the Villeta Project will be completed this Q1.

EPC contract discussions with the main and specialist sub-contractors, led by AECOM, the international engineering consultancy and ATOME's Owner's Engineer, will conclude in the coming weeks. Discussions have been focussed on delivering a lump sum fixed price turnkey contract in order to provide certainty on costs and delivery timelines with AECOM contributing value engineering. This contractual structure being negotiated will create alignment between ATOME and its EPC contractor which has the responsibility for delivering the plant in working order, on the agreed timeline and budget, thereby lowering project risk and increasing its bankability, all of which significantly contributes to maximising project returns.

Offtake of CAN from Villeta

The Company is in advanced negotiations with leading international players for the offtake of the full production of green Calcium Ammonium Nitrate ("CAN") fertiliser from Villeta. ATOME has now received multiple proposals from prospective offtakers and management is actively considering a number of proposals which satisfy the financial and strategic objectives set out by the Board.

It has become clear to the Board that there is a significant and growing market for CAN on the doorstep of Paraguay, in Brazil and Argentina, particularly with the latter market becoming significantly more open due to the change in government there. Furthermore, ATOME's offering is particularly attractive to European and UK markets where increasing emphasis is made throughout the vertical supply chain for green fertiliser and carbon tax penalties are now in place and will grow increasingly in the next few years.

An agreement on offtake of ATOME's CAN is expected to be announced before the end of Q1. Further details of the offtake arrangements will be disclosed when terms with an offtaker are settled.

Project financing gains momentum

The Company's financial advisor, Natixis Corporate & Investment Banking, has received multiple formal expressions of interest from Development Finance Institutions, international lenders and export credit agencies leading to an indicative oversubscription in respect of the debt financing component of the project of some 2x. As such, the Board is confident that the debt element of the financing can be achieved on terms acceptable and as envisaged by the Company and we expect to mandate the lead arrangers in Q1.

Discussions are ongoing with prospective international equity and strategic investors at the project level who are continuing to show ongoing interest in financing Villeta due to the project's robust economic case and strategic importance given that it is expected to be the world's first industrial scale green ammonia-to-fertiliser facility and capable of exporting its product economically worldwide.

300MW "Yguazu Project"

Following entry into a pre-PPA with ANDE, the state power company of Paraguay, both parties continue to cooperate on mechanical engineering and feasibility studies to establish the best location for the Yguazu Project.

Yguazu will benefit from the blueprint created by the Villeta project development for green fertiliser production both in terms of timescale and costs. A further update on Yguazu along with an expected roadmap toward a 300MW PPA will be made in this Q1 with a formal 300MW PPA targeted to be entered into within H1.

Olivier Mussat, ATOME's CEO, commented: "The Board is confident that 2024 will be a transformational year for ATOME and we are grateful to the team and our strategic partners who have continued to work throughout the end of the year in order to make rapid progress on the engineering, financial and commercial fronts.

"Whilst taking slightly longer than we originally hoped, the work and de-risking during this extended time has allowed for significant benefit in enhancing the efficacy of our first 145MW project in Paraguay as well as enabling beneficial impact on design, offtake, and financing. We are confident that in this Q1, further key project milestones will be achieved, and we look forward to taking FID on the Villeta project once these workstreams are completed.

"At the same time, work is continuing in parallel on other projects and in particular Costa Rica which, combined with Yguazu in Paraguay, provides a pipeline of projects extending to world-scale in excess of half a gigawatt."

[lordmason] 02/1/2024 13:38

Atome were hoping to announce completion of Front End Engineering design (FEED), Engineering, Procurement & Construction (EPC) discussions & Final Investment Decision (FID) by end Q42023, so we should hear news any time.

The BOD sound confident:
"In respect of debt financing, significant expressions of interest have already been received from both Development Finance Institutions and international banks. Whilst work continues in relation to this, the strong level of interest shown to date has demonstrated the financeability of the Company's first industrial scale green fertiliser project and the Board is increasingly confident that the required debt financing component can be achieved.

It is worth repeating that the debt financing discussed is at the project level which would provide significant value to ATOME shareholders."
hxxps://polaris.brighterir.com/public/atome/news/rns/story/x81zopw

When announced (any day now), this will make the economics of the Viletta and subsequent 300MW Yguazu Project clearer, enabling investors to value Atome, which should give an immediate share price booth. How much, who knows.

Good luck all, this is one of my favourite stocks for 2024/2025

[pcok] 15/12/2023 15:13

A very confident sounding CEO. Could be a good 2024.

[mcunliffe1] 14/12/2023 18:01

Thanks for that info. All in. I did wonder.

[all in eol] 14/12/2023 17:39

Delayed trade of 60000 at 80p is the reason for today’s rise.

[activmojo] 28/11/2023 08:52

Coordinated RNS fest this morning, spinning to help CPH2 save face. No mention of the 300k return in thier release, bit underhanded. Looks like the EPC contractors have put a spanner in the works as far as CPH2 MFE kit is concerned, and they purchased £1.2m shares in ATOME. Should we be thankful?

[vitamin_g] 28/11/2023 08:52

Makes sense. I think they said from the start the cph2 tech was always for the mobility project. Suspect now that if fertiliser is the big prize they might use ITM or another large manufacturer. Let's see

[mcunliffe1] 28/11/2023 08:47

There's a bit of a whiff here, and it isn't ammonia.

[bbd2] 28/11/2023 08:32

Seems a sensible move and the exit negotiated very amicably.
The following snippet is encouraging too, with regards to Valleta:
“ and indicative offers for the debt funding of such project pointing to substantial oversubscriptionR21;.

[barony] 28/11/2023 08:28

How will Atome produce H2 without cPH2 electrolysers? Nice that we have $300k back in the bank, but will we need 600 x $300k for our planned 600MW consumption? Will we use electrolysers made under licence in Paraguay by our sister company, or will we use larger ones, like ITM 20MW models?

[all in eol] 28/11/2023 07:07

28 November 2023

ATOME ENERGY PLC

("ATOME", "the Company", or "the Group")

Update on Mobility Division

ATOME Energy (AIM: ATOM), the only international green fertiliser project development company on the London Stock Exchange, notes the RNS announcement made by Clean Power Hydrogen Plc ("CPH2") today in relation to the previous production order made by the Company in March 2022. This order was for a 1MW electrolyser from CPH2 slated at that time for a hydrogen mobility project of ATOME.

Since that time in March 2022, ATOME's focus has transitioned to large scale green fertiliser projects which now extend to some 650MW of 100% renewable power across its portfolio, principally in Latin America. In particular, the 145MW Villeta project in Paraguay with its 24/7 baseload power from the grid has now developed into a major project on its own with FEED study (Front End Engineering Design) nearing completion, substantive discussions with EPC contractors at an advanced stage and indicative offers for the debt funding of such project pointing to substantial oversubscription.

The former mobility project is now seen as a diversion from ATOME's core focus on delivering industrial scale green fertiliser, where the Company will be one of the first in the marketplace to meet existing demand in both South America and Europe from 2025. Accordingly, as the CPH2 electrolyser for the mobility project has not yet been delivered, the Company has mutually agreed to cease the order without penalty or other payout to CPH2. This allows CPH2 to concentrate on near home markets and its current partner licences. The deposit of US$300,000 has been returned to ATOME.

Relations with CPH2 remain good and ATOME is pleased to note the announcement made today in relation to electrolysers of CPH2 by G-Mobility, a subsidiary of Green House Capital, currently part of Molecular Energies PLC. The potential for hydrogen mobility in Paraguay remains valid and ATOME looks forward to seeing hydrogen fuelled trucks transporting its products in South and Central America.

Olivier Mussat, CEO, commented:

"With green fertiliser now firmly at the core of ATOME's strategy, the mutual termination of the arrangements with CPH2 allows ATOME to mobilise all its resources and energy on its world class green fertiliser business whilst permitting CPH2 to concentrate on its home markets."