ATOME announces progress on Costa Rica green fertilizer project

ATOME's Central America company, National Ammonia Corporation S.A. has entered into framework collaboration agreement with Instituto Costarricense de Electricidad, the Costa Rican state power company to evaluate feasibility for the power supply to a green ammonia and fertilizer project.

The Agreement is the necessary and significant first step in securing 100% renewable baseload electricity for the country's first industrial scale green ammonia and fertilizer project.

The endorsement from the President of Costa Rica, Mr Rodrigo Chaves, along with key members of his cabinet demonstrates the commitment to attracting foreign direct investments and a recognition of ATOME's proven strategy of developing fertiliser projects with significant local impact.

Costa Rica is an optimal location for green fertilizer production with its existing renewable power, premium agricultural industry, and strategic regional position combined with access to both Pacific and Atlantic Ocean ports.

The Project will be of a similar size to ATOME's Villeta Project, leveraging the key learnings to date,further validating the Company's strategy for replicating and deploying green fertilizer production at scale, positioning ATOME as a leading developer of such projects in Latin America.

Olivier Mussat, ATOME's CEO, commented: "Within a year since the creation of NAC, thanks to the significant progress on our Villeta project and our strong local team led by Cavendish SA, we have been able to establish an excellent working relationship with ICE with the aim of building Costa Rica's first green fertilizer facility.

"There is a substantial local market for the fertiliser we intend to produce as well as being strategically located to access global markets. Costa Rica is viewed as a prime investment destination with significant existing foreign investors such as Intel, Microsoft, and Amazon.

"Whilst the 145MW Villeta Phase 1 Project remains the near-term priority of the team, the progress made on Costa Rica is significant news for ATOME. Beyond adding another flagship project to our pipeline, it is a demonstration of ATOME's business plan and its growing reputation as a world leader in green fertiliser. It also shows that ATOME's own developed technical and commercial IP is able to be replicated on a cost-effective basis elsewhere giving us a significant edge in speed of mobilisation, costs and efficacy."

Read the article online at: https://www.worldfertilizer.com/project-news/14022024/atome-announce-progress-on-costa-rica-green-fertilizer-project/