Commodities of the Future, Today with Olivier Mussat, CEO of ATOME
Oct 3, 2023
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Olivier Mussat, CEO of ATOME, a green hydrogen and ammonia production company, discusses hydrogen, ammonia, and the fertilizer market. They explore localized production, logistics advantages, carbon perspectives, and competition. They also talk about listing at an early stage, projects in Costa Rica, Paraguay, and Iceland, and financing. Challenges in leaving established institutions, impact of chemical fertilizers on the environment, and ammonia decarbonization opportunities are also discussed.
Atome is developing green hydrogen and ammonia production projects in Paraguay and Costa Rica, aiming to convert excess renewable power into green ammonia for fertilizer production and contribute to food security.
By listing in the UK, Atome gains credibility and transparency, allowing for more financing options and facilitating negotiations with suppliers and power purchase agreements, while carefully managing project risks and ensuring bankable projects.
Atome recognizes the importance of green ammonia in addressing the decarbonization of the ammonia market and supporting sustainable agriculture, aiming to reduce carbon emissions and water pollution while promoting education and awareness for a just transition.
Deep dives
Atome's Project in Paraguay and Iceland
Atome is developing a green hydrogen and ammonia production project in Paraguay, with an initial size of 120 megawatts and a long-term power purchase agreement. The project aims to convert excess hydroelectric power into green ammonia, leveraging Paraguay's abundant renewable resources. Atome is also working on a 300-megawatt project in Costa Rica, looking to replicate its successful engineering and design work from the Paraguay project. These projects aim to deliver green fertilizer and contribute to food security while minimizing environmental impact.
Benefits of Listing and Scale-up Challenges
Atome's decision to list in the UK was based on the credibility and badge of credibility it provides, especially when engaging with suppliers and negotiating power purchase agreements. Listing also allows for more optionality in financing and provides transparency to stakeholders. Atome focuses on scaling up projects by carefully managing risks, and choosing technology and project sizes that align with the capabilities of suppliers and utilities. The aim is to deliver projects that are manageable and bankable while pushing the hydrogen economy forward.
Opportunities in the Ammonia Market
Atome sees opportunities in the existing ammonia market, which requires decarbonization. With a growing population, the demand for ammonia-based fertilizers continues to increase. Atome's green ammonia projects can address this demand while reducing carbon emissions. The market for alternative fertilizers, such as organic fertilizers, is also growing, but ammonia remains a vital component due to its efficiency and ability to support food security. Atome's focus on localized production aims to enhance competitiveness and reduce logistics costs, making green ammonia a viable and impactful solution.
Considerations for Sustainable Agriculture
Atome acknowledges the challenges associated with sustainable agriculture, including soil health and water pollution. While alternative farming methods exist, widespread adoption takes time. More efficient and responsible use of nitrogen-based fertilizers, like ammonia, is crucial to address carbon emissions and water pollution. As the industry evolves, there is a need for greater education and awareness to ensure a just transition and support farmers in adopting sustainable practices. Atome aims to contribute to sustainable agriculture by providing green ammonia as an important component for green fertilizer production.
Focus on Infrastructure and Education
Atome's approach focuses on minimizing risks throughout the hydrogen value chain by investing in infrastructure and ensuring manageable identified risks. The company prioritizes transparency, education, and working with stakeholders to build trust. Atome emphasizes the importance of continuously educating the public about the potential of hydrogen and the benefits of localized renewable production. By prioritizing infrastructure development and education, Atome aims to accelerate the hydrogen economy and promote wider adoption of green ammonia in various industries.
The team interviews Olivier Mussat, the CEO of ATOME, a London-based green hydrogen and ammonia production company with projects in Paraguay, Costa Rica, and Iceland.
About ATOME:
ATOME Energy PLC (AIM:ATOM) is the first and only green hydrogen, ammonia and fertiliser production company listed on the London Stock Exchange.
About Olivier Mussat:
Olivier started his career as a field engineer in the power & water sector with GE-Ecolochem, followed by a move to Oil & Gas with energy engineering company Schlumberger across Europe, the Middle East and Africa. He then shifted to banking with Standard Chartered Bank, where he ended up as co-head of Oil & Gas Project Finance, before joining IFC (the private sector investment arm of the World Bank) where he spent nine years as Chief Investment Officer of Global Energy.
During his time funding and managing energy infrastructure assets in Oil & Gas, Power & Renewables, he has led over US$500 million of equity investments in early stage companies and over US$30 billion of corporate and structured debt finance transactions across emerging markets and Europe.
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Links:
ATOME Energy PLC Full Investor Video:
The Commodities Of The Future, Today: https://www.atomeplc.com/atome-energy-plc-investor-video-3/
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