Atome Secures $420M Financing for 145MW Green Hydrogen Fertiliser Project in Paraguay

By Fuel Cells Works

March 13, 2026 at 8:49 AM EDT

ATOME (AIM: ATOM), the world-leading low-carbon fertiliser developer and the UK’s only dedicated international industrial scale low-carbon fertiliser company, is pleased to announce the signing of the debt financing documents (“the Definitives”) with the Lenders for the US$420 million total debt package  in respect of the US$650 million landmark, 260,000 tonnes-per-year, low-carbon fertiliser plant at Villeta, Paraguay (“Villeta” or “the Project”).

Highlights:

 

• Definitive debt financing documents signed for the entire debt package of US$420 million
• Signing of the definitive equity agreements projected to follow within 30 days
• Recent world events highlight ATOME’s beneficial position as a stable producer of low-carbon fertiliser, independent of fossil fuels

 

Introduction

 

During the Inter-American Development Bank Group’s (“IDB Group”) Annual Meetings held in Asuncion, Paraguay on 12 March 2026, the first to be held in the country since 2017, the Definitives relating to the structuring of and debt financing for the US$650 million Project funding were signed. The availability of debt commitments under the Definitives are subject to and conditional upon the equity documentation in mutually agreed form being signed between ATOME and the Equity Consortium within 30 days.

 

The Definitives

 

The Definitives were signed by James Spalding, President of ATOME Paraguay S.A.E., in the presence of ATOME Chair, Peter Levine, between ATOME’s subsidiary, ATOME Paraguay S.A.E. (“ProjectCo.”), and the following lenders comprising the entire lender consortium (“Lenders”):

 

(i) Inter-American Investment Corporation (“IDB Invest”), the private sector arm of IDB Group

(ii) International Finance Corporation, (“IFC”), part of the World Bank Group

(iii) European Investment Bank, (“EIB”), the lending arm of the European Union

(iv) Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V, (“FMO”), the Dutch Entrepreneurial Development Bank majority owned by the Dutch state; and,

(v) Green Climate Fund (“GCF”), a fund created under the United Nations Framework Convention on Climate Change (UNFCCC)

 

The Debt structure

 

The Company has secured fifteen-year debt financing on highly competitive terms. The structure reflects Villeta’s robust project economics, its alignment with food security, climate and employment goals, and Paraguay’s newly attained investment grade sovereign status. The strategic importance of our project as a new model is reflected by the participation of Global Development Finance Institutions, with approximately 25% on concessional terms, materially improving the overall cost of capital and project returns.

 

Next Steps

 

The equity documents are in the final stage of negotiations and will set out ATOME’s and the various other parties’ respective and expected financial participation in and contributions to the Project’s US$244 million equity funding, as well as matters of governance and management of the investment which will be made into ProjectCo. As part of the equity arrangements, it is envisaged that ATOME will provide management services to the Project on mutually agreed terms. This is expected to include the provision, on a remunerative basis, of the Chair, CEO and Project Director roles, as well as certain other personnel and services to the ProjectCo.

 

Whilst final terms are still being negotiated, the resolution of the equity documentation is projected to be before the expiration of the said 30-day period with ATOME and its partners preparing to embark on the construction phase as soon as possible.

 

Recent World Events

 

Recent world events have highlighted ATOME’s beneficial position. Villeta will produce fertiliser without the need for fossil-fuels, with a low fixed-cost, long-term supply of power, situated in the middle of one of the largest fertiliser markets in the world and benefit from a long-term take-or-pay offtake agreement for all of Villeta’s production from Yara International with price-protection mechanisms and premium upside potential.

 

Further Announcements

 

It is expected that further to the signing, the Lenders’ will be making their own separate announcements during the course of today. A further announcement in respect of the equity aspects will follow in due course.

 

Peter Levine, Chair of ATOME PLC, commented:

 

“We are sincerely grateful to the Lenders for their tremendous support for this flagship project which ATOME has originated, developed, and is expected by them to continue to manage on behalf of the lending and equity funders.”

 

“This is a significant, world-leading project with clear environmental benefits. Villeta will enable fertiliser to be produced at industrial scale without reliance on fossil fuels, supported by a stable, long-term renewable power supply, which we believe will be a game-changer for the fertiliser sector, particularly in the increasing important South American region.”