Atome reports positive progress at Villeta project

(Sharecast News) - Green fertiliser project developer Atome reported progress on its flagship 145MW Villeta project in Paraguay on Friday. The AIM-traded company reported favourable advancements with both equity and debt financing providers, moving closer to the final selection of funding partners for the project.

It said the negotiations were expected to culminate in the near future, enabling it to complete the project financing process.

Chairman Peter Levine recently met with Paraguay president Santiago Peña in Paris, during the reopening of Notre Dame, to personally update him on the project's progress.

Initial site preparation for Villeta, including land clearing, was expected to begin in the first quarter of next year, marking a significant milestone toward construction.

Atome also indicated that workstreams and initiatives were progressing across its broader portfolio of projects.

A comprehensive update on its activities was scheduled for January.

"We end the calendar year in a strong position to commence construction and deliver a final investment decision for our flagship Villeta green fertiliser project within the first half of 2025," said chief executive officer Olivier Mussat.

"We anticipate regular newsflow will start next month with a detailed update which will also include information on our growing pipeline of projects and renewable power related initiatives."

At 1539 GMT, shares in Atome were up 2.59% at 48.73p.

Reporting by Josh White for Sharecast.com.