ATOME Energy enters into joint venture with Cavendish

ATOME Energy has announced a new joint venture developing green ammonia and fertilizer projects with the focus on Central America and the Caribbean.

ATOME has entered into a joint venture with Cavendish, the renewable energy arm of Grupo Purdy S.A., one of the largest corporations in Costa Rica. ATOME and Cavendish have established a new enterprise, National Ammonia Corporation S.A, owned equally with Cavendish and headquartered in San Jose, the capital of Costa Rica, and which has a mandate to develop projects across Central America and the Caribbean with its initial focus in Costa Rica.

Costa Rica is a democratic country and open economy and one of the greenest countries in the world. The country has a 99% penetration of renewable electricity and a strong agriculture sector which is one of the highest fertilizer consumers per hectare on the planet.

Cavendish, led by its CEO Silvio Heimann, is one of the leading participants in the infant green hydrogen market in Costa Rica with complimentary aims and objectives to ATOME. The objectives of NAC align with ATOME which is focused on countries with renewable power resources and capabilities combined with access to both domestic and international end markets. Costa Rica’s favourable position with ports on both the Atlantic and Pacific only separated by some 200 kms of landbridge make the country a logistically excellent location.

Through NAC, ATOME aims to capitalise on its capability to roll out its large-scale hydrogen and ammonia production model now being implemented in Paraguay. In this regard, material and constructive discussions are already taking place with relevant stakeholders in the areas of focus for NAC.

Olivier Mussat, CEO of ATOME, commented: “We are excited as to the potential of NAC. The establishment of NAC shows the clear intent of ATOME to deploy its innovative business model and know-how in other geographies.”

“With the Villeta Project in Paraguay, we have taken a significant industry lead that we are able to roll out and replicate under the right conditions. Our partnership with Cavendish, a company established by the founders and owners of Grupo Purdy, offers ATOME 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 fertilizers.”

Silvio Heimann, CEO of Cavendish, commented: “We are energised to join efforts with ATOME to deliver innovative solutions to the domestic and regional markets, as this combination of international expertise provided by ATOME´s team fits perfectly well with our ability to execute locally.”

Javier Quiros, partner in Cavendish SA and VP Grupo Purdy S.A., commented: “Cavendish was established by the Quiros Family to boost the development of the green hydrogen technology in Costa Rica and the region. We see this partnership with ATOME through NAC as a valuable opportunity to bring our vision to life”.