ATOME makes progress with Costa Rica green fertiliser project
London, UK
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February 20, 2024 04:48 AM Eastern Standard Time
ATOME PLC (AIM:ATOME) CEO Olivier Mussat joined Proactive's Stephen Gunnion with details of a pivotal collaboration with ICE, Costa Rica's state power company, to develop a green fertiliser project.
Musat said the venture underscores ATOME's strategy for decentralised green fertiliser production, echoing its successful model in Paraguay. The project, akin in scale to their Paraguayan facility at 120 megawatts, aims for efficiency and cost reduction through replication. Negotiations for power purchase agreements are expected to conclude within four to six months, with Mussat optimistic about exceeding timelines.
Costa Rica, renowned for its green initiatives and significant agricultural exports, views this project as a strategic move to decarbonise its agricultural sector and maintain its green branding while addressing its reliance on conventional fertilisers. The choice of Costa Rica was strategic for ATOME, leveraging the country's nearly 100% green grid and its robust agricultural sector requiring substantial fertiliser imports.
This initiative aligns with ATOME's broader strategy to establish a leading position in the green agricultural products market across Central and South America. By replicating successful projects and applying lessons learned, Mussat said ATOME aims to create a pipeline of efficient, profitable projects. This approach addresses the significant carbon footprint of the traditional fertiliser sector and taps into the burgeoning market for green fertilisers.
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