British green hydrogen company plans to set up subsidiary in Paraguay
RIO DE JANEIRO, BRAZIL – Atome Energy PLC is the first listed company in the UK to produce green hydrogen and ammonia. It plans large-scale production in Iceland and Paraguay to meet the rapidly growing global demand for green products.
Green hydrogen is fundamental to achieving the goal of decarbonization and meeting net-zero emissions targets by 2050, particularly in industries such as heavy transport, maritime shipping, and specific industrial processes where batteries or other forms of alternative energy supply to fossil fuels are not expected to be sufficient to meet the required demand.
Paraguayan Minister Luis Alberto Castiglioni, head of the Ministry of Industry and Commerce (MIC), and REDIEX Deputy Minister Estefanía Laterza received on Tuesday the directors of Atome Energy, a company that produces hydrogen and green ammonia based on renewable energy sources.
On this occasion, Peter Levine, president of the English company, informed MIC authorities about the plans to establish the company in Paraguay.
The production of hydrogen and green ammonia in Paraguay will create new industries such as green fertilizers, metallurgy, and green steel.
And by providing new generation fuels to decarbonize Paraguay’s inland shipping, bus, and truck fleet, the South American country will achieve significant savings in freight costs and increase exports competitiveness.
The arrival of Atome in Paraguay and of three other multinational companies that have signed initial contracts with Paraguay’s National Electricity Administration (ANDE) is concrete proof that the new investment attraction and diversification strategy, implemented since 2020, is bearing fruit and that REDIEX/MIC is succeeding in attracting and consolidating the interest of multinational companies worldwide, Laterza added.
The meeting was attended by the minister and vice-minister of REDIEX, the director of investment incentives of REDIEX, Federico Sosa Otero, and the company’s legal representative in Paraguay, James Spalding.
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