Atome Energy signs MoU; Aker Horizons raises funds; Proton Motor receives order

Atome has placed Paraguay as its primary focus of investment for hydrogen and ammonia in the Americas.

Atome Energy Plc (green hydrogen and ammonia company and an offshoot of President Energy Plc) has signed an MoU with ANDE, the national electric power company of Paraguay, to supply up to 250 MW of power for its production facility.

Atome signed an MoU with Itaipu Technology Park for the future location of its planned green hydrogen and ammonia facility approximately. The facility will be uniquely situated at the future economic zone within the Technology Park of Itaipu, adjacent to the Itaipu Binacional dam jointly owned by Paraguay and Brazil. The MoU is a precursor to a full form definitive Power Purchase Agreement planned for 2021 to facilitate the commencement of production by 2024.

Separately, Aker Horizons has completed a private placement raising NOK 1 billion in gross proceeds to strengthen Aker Horizons’ balance sheet ahead of investments in its portfolio companies and new direct assets. The Company will issue 28,985,507 new shares at NOK 34.50/share. Baillie Gifford Overseas Limited was allocated 13,500,000 shares, representing 46.6% of the total share issue and resulting in an ownership of 4.6% in Aker Horizons.

In another development, following the recent extension of the cooperation agreement between Proton Motor Power Systems plc and DB Bahnbau Gruppe GmbH, which was first announced in July 2015, Proton Motor has received an order from DB Bahnbau for a PM Frame fuel cell system and signed a maintenance services contract for 22 systems, which were delivered in 2016. DB Bahnbau is a subsidiary of Deutsche Bahn AG (the German railway company headquartered in Berlin) and a full-service rail infrastructure provider. It is estimated that the market potential for Emergency Power Systems (EPS) to be delivered in cooperation with DB Bahnbau to be up to 1,800 sites with power requirement levels of between 10kW and 500kW.

Ethan Mandel

Ethan is the special correspondent for Europe covering the hydrogen industry for H2 Bulletin. Please click on the email icon to contact me via email or follow me on social media. I am reachable on Phone: +44 (0) 208 123 7812
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