LONDON, UK: ATOME Energy (AIM: ATOM), the only pure international green hydrogen and ammonia production company on the London Stock Exchange with current large-scale projects in Paraguay and Europe notes the meeting last week between the Presidents of Germany and Paraguay at which they discussed the importance of green hydrogen production.
ATOME notes the meeting last week, reported in the media, between the Presidents of Germany and Paraguay at which they discussed, inter alia, the production of green hydrogen and the needs of Germany to import such fuel in the future.
The President of Paraguay highlighted to his German counterpart the availability of green hydrogen in Paraguay and the prospects of Paraguay becoming a strategic partner in this regard with Germany.
The Presidents discussed establishing a joint mechanism and roadmap for the promotion of green hydrogen with Germany separately announcing that it is now setting aside €4bln for the import of green hydrogen produced outside of the EU zone.
In terms of industrial scale production of hydrogen, ATOME expects to start its world scale Villeta facility in Paraguay at the start of 2025 meaning the country will be one of the largest producers of green hydrogen and ammonia in the world at that time and, on currently declared projects, one the largest in South America.
Olivier Mussat, CEO of ATOME commented: “The reported discussions between the Presidents of Germany and Paraguay reinforces ATOME’s stated ambition to be at the forefront of production of green energy at scale and being able to deliver such energy from Paraguay to Europe well in advance of other major projects.
“The EU is already the largest trading partner of the South America Mercosur trading countries of which Paraguay is a member and ATOME is ideally situated to play a major role in the supply of cost effective green energy and fertilizers not only in the Mercosur region but as part of the growing commercial relations between these two important trading blocks.”