Shares in Atome Energy soar amid fertiliser crisis
Shares in Atome Energy have soared 24.4 per cent powered by the ongoing fertiliser crisis, which has been exacerbated through rising after Russia’s invasion of Ukraine.
The FTSE AIM company is the only pure-play green hydrogen and green ammonia producer listed on the London Stock Exchange, and is currently trading at an all time high of 135.5 pence per share.
As part of Europe’s energy and food security strategy, green ammonia is considered a viable option to transition away from the dependence on Russian gas.
The appeal of renewable alternatives has also risen with households facing a £271 hike in annual food bills, according to research group Kantar.
Tensions between the West and the Kremlin have continued to escalate with Gazprom halting supplies into Poland and Bulgaria after both countries failed to pay in roubles.
European gas prices are up around four per cent on the Dutch TTF Futures benchmark.