Olivier Mussat, chief executive of ATOME Energy PLC (AIM:ATOM), spoke to Proactive from Dubai's COP28, highlighting ATOME's invitation to 50 key hydrogen projects, a recognition of the group’s efforts in reducing agricultural emissions.
Despite a busy schedule, including EPC negotiations in London, Mussat discussed growth in the $200 billion fertiliser sector, emphasising hydrogen's role in decarbonisation. He anticipates significant developments in 2024 for ATOME's Villeta Project.
Thomas Warner (TW): Olivier, you're coming to us live today from COP28. What’s happening there?
Olivier Mussat (OM): "We were fortunate to receive an invitation to participate in one of the most advanced projects in the green fertiliser sector with our inaugural project in Vienna. It was an honor to be included among the 50 Hydrogen projects, which are garnering significant market attention.
“This initiative aims at decarbonising one of the largest carbon-emitting sectors, surpassing even shipping and aviation combined. The acknowledgement of our diligent work has earned us recognition at the COP and the opportunity to observe ongoing developments.
“In Dubai, where I've been for just 24 hours, there is a buzz of activity. Just yesterday in London, I was engaged in EPC negotiations. Here, we are actively engaging with investors and leading engineers in the field, witnessing a surge of energy and action."
TW: What is the update on Villeta? We had some news very recently from you that you were going to be concentrating your focus there.
OM: "That's absolutely correct. As our company matures, we have identified the fertiliser sector as our key focus area for aggressive expansion. Currently, we are the only dedicated ammonia developer listed on the London Stock Exchange.
“Venturing into the established $200 billion-a-year fertiliser sector is a significant step for us. The current buzz in the agriculture industry is largely about the potential of hydrogen to decarbonise key sectors, and agriculture is at the forefront of this discussion.
“Our approach aligns perfectly with the ongoing trends and investor interests. In recent days, we've observed approximately $25 billion in funds being directed towards decarbonisation and hydrogen initiatives. It's exciting to see such strong alignment between our activities and the investor community's focus."
TW: Is there an update on your first project at Villeta?
OM: “Our work continues unabated, even as I spend today and tomorrow in Dubai. Currently, we are engaged in VPC negotiations. This progress is quite thrilling for us. Looking ahead, we anticipate that 2024 will be an exciting year, filled with numerous announcements stemming from our ongoing projects.
“Additionally, the investment trends are encouraging. Significant funds from entities like TPG and Brookfield are being directed towards projects similar to ours. This influx of capital indicates that we are in the right place at the right time, aligning perfectly with current market dynamics."