ATOME PLC (AIM:ATOM), the London-listed developer of industrial-scale green fertiliser projects, has made a series of significant strides in the first half of 2025 as it moves closer to breaking ground on its flagship Villeta facility in Paraguay.
In an update released alongside its full-year results, the company noted it had secured Hy24, the world’s largest clean hydrogen infrastructure fund, as its anchor equity investor.
Heads of Terms have been signed for a proposed $115 million investment from Hy24, placing the Villeta project on a firmer footing as it approaches a Final Investment Decision (FID) in the second half of the year.
ATOME also reiterated it has now signed a definitive $465 million Engineering, Procurement and Construction (EPC) contract with Swiss-based Casale, a global specialist in fertiliser plant design and delivery. Detailed engineering work has already begun.
The company said discussions with other potential equity investors were continuing alongside the finalisation of a debt package that has already attracted more interest than required.
The funding structure is intended to fully support the construction of what ATOME believes will be the world’s first industrial-scale, zero-carbon green fertiliser plant.
CEO Olivier Mussat told investors: "This has been a period of resolute execution for ATOME, marking our transition from development-stage company to a project-ready organisation on the cusp of delivering what we believe will be the world's first industrial-scale zero carbon green fertiliser facility, Villeta in Paraguay.
"The plant will generate production without reliance on subsidies, close to key demand markets, enabling major food producers to decarbonise their supply chains"
The Villeta plant will use renewable electricity to produce fertiliser without the use of fossil fuels, enabling food producers in the region to decarbonise their supply chains.
Located near key markets, the project has already secured long-term offtake arrangements with Yara International, one of the world’s leading crop nutrition firms.
In parallel, the group has launched a new division, ATOME POWER, to pursue renewable energy opportunities.
Its initial focus is on a 400MW solar project in Paraguay, which it says could become a significant income stream for the wider group and further strengthen its local energy credentials.
Financial results for the year to 31 December reflect the continued investment in project development.
The company reported a comprehensive loss of $7.3 million, up slightly from $6.6 million in 2023.
Capitalised development costs rose to $6.4 million, while $6.3 million was raised from equity issuances during the year to fund ongoing operations and settle outstanding obligations.