ATOME PLC (AIM:ATOM), the sole international green fertiliser project development company listed on the London Stock Exchange, has been granted Enterprise Investment Scheme (EIS) status by His Majesty's Revenue and Customs (HMRC) for investments made by certain qualifying shares.
This announcement follows the equity fundraise last month, which brought in £1.8 million.
The EIS initiative, backed by the UK government, aims to stimulate investments into qualifying companies by offering tax incentives to eligible investors who purchase new shares, excluding ATOME's directors and employees from EIS income tax relief.
Qualifying investors with UK tax liabilities are eligible for up to 30% tax relief of their investment, capped at £1 million annually.
ATOME believes the HMRC's decision to confer EIS status enhances the appeal of investing in the company, particularly noting its potential as a 'qualifying holding' for venture capital trusts (VCTs), subject to certain criteria.
The company is permitted to raise up to £5 million from EIS and VCT investors every 12 months.
Reiterating its strategy, ATOME said its plans to finance its inaugural 145MW project in Paraguay at the asset level through ATOME Paraguay, a subsidiary.
This project is part of ATOME's broader ambition to produce 100% green fertiliser, with a production target set for 2026. The initiative addresses the growing demand for decarbonised agricultural supply chains in the UK, Ireland, and globally.
The company also highlighted its ongoing projects, including a 100MW project in Costa Rica and a 300MW Phase 2 project in Paraguay.