ATOME has reached a major industrial and financial breakthrough, confirming the Final Investment Decision (FID) for what it describes as the world’s first industrial-scale low-carbon fertiliser plant in Villeta, Paraguay.
The company has locked in a total of US$665 million in combined debt and equity funding, clearing the way for construction of its flagship facility, which will produce 260,000 tonnes per year of low-carbon Calcium Ammonium Nitrate (CAN) fertiliser.
Villeta is positioned as a landmark project in the global push to decouple agriculture from fossil fuels, using 100% renewable baseload hydropower to eliminate reliance on gas-based fertiliser production.
ATOME says the plant will displace up to 500,000 tonnes of CO2e annually over its lifetime and help reduce dependence on volatile global energy markets.
The company said the project “is the first industrial-scale facility of its kind globally to achieve FID,” and confirmed construction will begin shortly, with full production targeted “by or before October 2029.”
The $665 million package is split into $420 million in debt financing from a consortium of major development finance institutions, including IDB Invest, the IFC (World Bank Group), the European Investment Bank, FMO, and the Green Climate Fund.
A further $245 million in equity investment is led by Hy24’s Clean Hydrogen Infrastructure Fund, alongside IFC, KfW DEG, Danish development finance institutions, Sudameris Bank, and ATOME itself.
Nitrogen fertiliser is essential for feeding more than half the world’s population, yet production remains overwhelmingly dependent on fossil fuels. ATOME argues this creates direct exposure to geopolitical shocks and energy price spikes.
By using Paraguay’s renewable hydropower base, the Villeta plant is designed to produce fertiliser independent of fossil fuel inputs, aiming to stabilise supply chains and reduce food price volatility in key import markets across Latin America.
ATOME is positioning Villeta not just as a standalone project, but as a replicable global model for green industrial fertiliser production. The company has secured a long-term offtake agreement with Norwegian fertiliser giant Yara International ASA and partnered with Swiss engineering firm Casale S.A.
The company says the framework provides a “high-fidelity blueprint” for scaling similar plants internationally.
From developer to industrial producer
ATOME CEO Olivier Mussat described the milestone as transformative.
"Reaching FID at Villeta is a defining achievement for ATOME which originated, developed and will continue to manage the project through construction and operation. This bankable industrial platform is set to revolutionise the global agricultural sector.
"Villeta is only the beginning as ATOME rolls out its replicable blueprint, proving that the green transition doesn't need subsidies to be profitable. It needs the right commitment, engineering and partners."
Hy24’s Pierre-Etienne Franc said: “With the Villeta project, ATOME has brought together a strong team, a committed ecosystem and a cost-competitive platform. This is anchored by Paraguay’s fundamentals, including abundant, low-cost renewable hydropower and a prime location at the heart of regional agricultural demand - alongside leading customers and tier-one partners."
Impact Fund Denmark CEO Lars Bo Bertram added: "This is exactly the type of investment we want to pursue at Impact Fund Denmark. Investments that deliver attractive returns and long-term value creation. We are helping to build new, greener industries in a region with significant potential for growth and development."
European Commissioner Jozef Síkela said: “This project shows what Europe’s Global Gateway is about in practice: turning our investments into benefits for both Europe and our partners. For Paraguay, it means building a modern, clean fertiliser industry, creating local value and jobs while contributing to sustainable agriculture and food security. For Europe, it supports the strategic positioning of European companies in the Latin American market.”
IFC’s Manuel Reyes-Retana said: “The ATOME Villeta project aligns with IFC's mandate – as it helps transform Paraguay’s manufacturing base while creating job opportunities.
"By taking subordinated risk, mobilising concessional finance from the Green Climate Fund, and committing equity, IFC is helping launch a first-of-its-kind green hydrogen project that strengthens the regional food supply chain by producing the fertilisers that the Mercosur region needs on more resilient, sustainable terms."
European Investment Bank Vice-President Ioannis Tsakiris said: "Disruption in the Strait of Hormuz has exposed the vulnerability of global fertiliser supply chains as well as our energy security."
"With this investment, public and private investors as well as multilateral development banks have joined together in a model partnership to finance the first industrial-scale green hydrogen fertiliser plant outside the European Union. This is a major contribution to the resilience and food supply of our Mercosur partners in Paraguay and the stability of the wider region."
