ATOME PLC (AIM:ATOM) shares rose 13% after the company announced a provisional commitment of up to $135 million in senior debt from the European Investment Bank to help finance its flagship green fertiliser plant in Paraguay.
The Villeta project, which will use green hydrogen derived from renewable electricity to produce fertiliser, is a key part of ATOME’s push to decarbonise agriculture.
The funding, though still subject to final approvals, would see the EU’s lending arm join other development finance institutions already backing the initiative.
The EIB commitment follows earlier support from the Green Climate Fund and marks what chief executive Olivier Mussat described as a “milestone in the project’s maturity and credibility.”
ATOME aims to finalise financing and reach a final investment decision by the end of September. The EIB, one of the world’s largest public climate financiers, has invested over €270 million in Paraguay since 1959.
Mussat added that the equity funding side of the project is also progressing, with the company on track to meet its September deadline for financial close and formal project approval.
The shares rose 6.5p to 56p.