Energy firm ATOME partners with Cavendish in Costa Rica for joint venture in green hydrogen and ammonia production
In a significant move for the green energy sector, ATOME Energy, the only pure international green hydrogen and ammonia production company listed on the London Stock Exchange, has entered into a joint venture with Cavendish, the renewable energy arm of Grupo Purdy SA. The joint venture, named National Ammonia Corporation SA (NAC), was officially inked on February 2, 2023.
The establishment of NAC demonstrates ATOME Energy's intent to deploy its innovative business model and know-how in other geographies. Headquartered in San Jose, Costa Rica, NAC has a mandate to develop green ammonia and fertiliser projects across Central America and the Caribbean, with an initial focus on Costa Rica.
Costa Rica, one of the greenest countries in the world with a strong agriculture sector and high fertiliser consumption, is an ideal location for NAC's projects. Its favourable position with ports on both the Atlantic and Pacific coasts and its 200km land bridge make it logistically excellent for such projects.
Olivier Mussat, the Chief executive of ATOME Energy, expressed his excitement about the potential of NAC. ATOME sees the joint venture as 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 Energy has a significant industry lead with the Villeta Project in Paraguay, which it aims to replicate under the right conditions. Through NAC, ATOME aims to capitalise on its capability to replicate its large-scale hydrogen and ammonia production model.
ATOME Energy PLC (AIM:ATOM) is involved in this collaboration, and the business development of ATOME Energy is expected to contribute to the success of the joint venture. ATOME Energy has large-scale projects in Europe and South America, as well as hydrogen mobility projects, and this collaboration marks a strategic expansion into the Central American and Caribbean markets.
The collaboration deal between ATOME Energy and Costa Rica is a significant step towards the development of sustainable and green energy solutions in Costa Rica and beyond. With the growing demand for green fertilisers and the potential of NAC, this joint venture is poised to make a significant impact in the region.
Read also:
- AI Inspection Company, Zeitview, Secures $60 Million Funding for Expansion
- "Worldwide Initiative Introduces Scheme to Boost Eco-friendly Entrepreneurship in Underdeveloped Regions Worldwide"
- Experiencing Communications with My Spiritual Guardian Involves a Series of Experiments
- Electric public transportation, manufactured in Latvia, has begun functioning in Vilnius.
