ATOM Atome Plc

ATOME PLC

("ATOME", "the Company", or "the Group")

Positive Progress on Villeta Project Finance Process

ATOME (AIM: ATOM), the leading developer of international green fertiliser projects, is pleased to provide an update on the project finance processes for its 145MW Villeta Project in Paraguay ("Villeta" or "the Project").

Highlights:

·      Written non-binding offers now received for equity and debt funding

·      Equity proposals for Villeta also include ATOME's wider portfolio of projects

·      Indicative debt proposals substantially oversubscribed

Villeta Project Finance

ATOME is pleased to report material progress with the ongoing project finance processes for Villeta which is being conducted by the Company's international financial advisers. After substantive discussions and presentations, an encouraging number of written detailed non-binding offers ("NBOs") have now been received in respect of each of the equity and debt project finance portions from reputable international entities including multi-laterals, commercial banks, strategic investors and specialised investment funds.

The debt portion of the funding, as anticipated, is substantially oversubscribed on the basis of these NBOs. Furthermore, there has been a positive response to the equity portion from credible, international parties with equity funding interest being shown in ATOME's wider portfolio of projects, alongside Villeta.

ATOME is delighted by the extent and seriousness of the NBOs received and looks forward to progressing and finalising the funding as soon as possible, with the aim of commencing on-site work before the end of this year.

The next stage is to analyse and shortlist the proposals before moving to mandate the lead debt arrangers and select the preferred equity partners. As is normal in such processes, the Company reminds shareholders that there is no certainty or guarantee as to timing at this stage nor that any of the proposals received will ultimately progress to completion.

In the meantime, the Company's preferred EPC (Engineering, Procurement, and Construction) contractors are working on final costings for the construction of the Villeta Project which are expected to be received next month. The Company's estimate of these costings has, however, already been prudently taken into account and reflected in the NBOs received.

For more information, please visit https://www.atomeplc.com or contact:

About ATOME

ATOME PLC is an AIM listed company targeting green fertiliser production with 445-megawatt of projects in Paraguay and a further pipeline of potential projects in Central America.

The first project is at Villeta in Paraguay. It benefits from a 145MW renewable power purchase agreement and 30 hectares of land in a tax free zone. Front End Engineering Design studies have been completed and Heads of Terms signed with Yara, the leading international fertiliser company for offtake of all of Villeta's production. The Company is now negotiating the project finance with a view to closing that and declaring FID before end 2024. There is a further 300MW of renewable power reserved for ATOME in Paraguay.

In Costa Rica, The National Ammonia Corporation S.A. was formed in 2022 with local partner Cavendish S.A. based in Costa Rica to develop green fertiliser projects for the region. As well as straddling the Pacific and Atlantic Oceans, Costa Rica is a democratic Central American country. In agriculture, Costa Rica is the second largest supplier of pineapples in the world and is in the top ten banana growers.

All power for ATOME is from 100% renewable sources and all chosen sites are located close to the power and water sources and export facilities to serve significant domestic and then international demand.

The Company has a green-focused Board which is supported by major shareholders including Peter Levine, Schroders, a leading fund manager, and Baker Hughes, a global technology company operating in the energy and industry sectors.

MAR

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. Upon publication of this announcement, this inside information is now considered to be in the public domain. The person who arranged for the release of this announcement on behalf of the Company was Peter Levine, Chairman.

Other information

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.

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