Molecular Energies sells stake in ATOME for £800k

LONDON, UK: Molecular Energies PLC (AIM: MEN), the international energy company, has announced that it has sold 800,000 ordinary shares in ATOME Energy PLC (AIM: ATE), a green hydrogen, ammonia, and fertiliser company, for £800,000.

The sale, which was completed on 14 July 2023, represents a 2% stake in ATOME and a gain of £800,000 for Molecular, as the shares were held at nil cost in its accounts. The buyer of the shares is a new institutional investor in ATOME, whose identity has not been disclosed.

Molecular said that the sale was part of its strategy to bring in further serious investors into ATOME and to demonstrate the value of its investment in the green energy company. Molecular now holds 8,272,045 ordinary shares in ATOME, equivalent to 20.5% of its issued share capital.

Peter Levine, the chairman of Molecular, commented: “This first sale of Molecular’s investment in Atome not only is deliberately made to bring in further serious investors into Atome, broadening the share register, but it also demonstrates the value both already created by Molecular in Atome and projected in the future by the planned spin off and IPO of our Green House Capital division”.

Molecular Energies is an energy company with interests across the energy spectrum, from oil and gas projects in Argentina and Paraguay to green and alternative energy opportunities under the Green House Capital brand. Molecular is also the largest shareholder in ATOME, which operates green hydrogen, ammonia, and fertiliser projects in Paraguay, Costa Rica and Iceland.

Molecular Energies plans spin-out and IPO of alternative energies division