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ATOME Energy float on AIM

December 2021

 

ATOME Energy PLC was formed by AIM-traded President Energy, for the purpose of producing, marketing and distributing green hydrogen and ammonia. Hydrogen is widely considered a key part of the matrix of renewable power sources necessary to meet net zero carbon emissions targets by 2050. Ammonia which is made from hydrogen is also a carrier for hydrogen. Green hydrogen and ammonia (made through renewable energy) is expected to be a rapidly growing market, in which ATOME intends to be at the forefront.

The Company has two operating subsidiaries, ATOME Paraguay based in Paraguay, and Green Fuel based in Iceland. Both subsidiaries have commenced operational planning, sourcing and negotiations with green electricity suppliers, equipment providers and offtake partners.

 

Admission to Trading on AIM

On 30th December 2021, admission and dealings on AIM commenced by way of a Placing of 5,877,625 Ordinary Shares and subscription for 1,622,375 PrimaryBid Shares at a price of 80 pence per Ordinary Share.

The proceeds from the placing following Admission are principally expected to be used to progress ATOME Paraguay and Green Fuel’s detailed planning and development activities ahead of the formal commitments on plant procurement and infrastructure investment, general working capital for the Group and to meet the costs and expenses of Admission.

The Perivan shareholder communications team were delighted to work with President Energy and their advisers on the successful publication of the 135-page admission document.

 

Perivan specialise in the production and publication of financial documents relating to shareholder and investor communications for quoted companies, private companies and open and closed-ended funds.