Project Summary
In December 2022, ATOME formed The National Ammonia Corporation S.A (“NAC”) with Cavendish S.A., a local green-focused Costa Rica business, headquartered in San Jose, Costa Rica.
The company has a mandate to develop projects across Central America and the Caribbean with its initial focus in Costa Rica itself.
NAC has signed a Framework Collaboration Agreement with Instituto Costarricense de Electricidad (“ICE”), the Costa Rican state power company to evaluate feasibility for the power supply for its green fertiliser project. A necessary first step in securing 100% renewable baseload power.
NAC’s objectives, reflecting ATOME’s strategy, is to focus on affordable green fertiliser production in countries with available renewable power resources and a significant domestic market for fertilisers where we can develop projects that will have a positive impact on domestic markets as well as reach international end markets.
Why Costa Rica?
Costa Rica is a democratic and open economy country frequently referred to as one of the greenest countries in the world with a 99% penetration of renewable electricity and a strong agriculture sector which is one of the highest fertiliser consumers per hectare on the planet.
Costa Rica’s favourable position with ports on both the Atlantic and Pacific make the country a logistically excellent location.
Costa Rica is 100% dependent on the imports of fertilisers, whilst being a major world food producer. Total fertiliser imports in 2021 were US$180m, whilst exporting US$1.6 billion worth of agricultural products (2023). The country’s fertiliser consumption is 4.5 times that of the world average.
