ATOME's Villeta Project in Paraguay secures Free-Trade Zone status

11:52, 14th November 2023
Lauren Gibbons
Vox Newswire

ATOME Energy (ATOMFollow | ATOM, a green hydrogen company with projects in Latin America and Europe, has announced that its 145MW Villeta Project in Paraguay has been granted Free-Trade Zone (FTZ) status through a presidential decree.

This marks only the sixth FTZ granted by Paraguay and brings significant financial benefits to the project, including exemptions on municipal, VAT, and corporate income taxes.

The move underscores the Paraguay Government's strong support for ATOME's Villeta Project, and is well-timed given the country's credit ceiling has recently been upgraded to BBB- in the latest Fitch Ratings report. 


View from Vox 

Atome Energy is a UK-based company producing green hydrogen and green ammonia. With 445-megawatt projects in Paraguay, and projects in Iceland and Central America, the company focuses on decarbonising the agricultural industry through its green fertiliser product.

Atome recently expanded its Villeta project in Paraguay to include green fertiliser production, with the aim of being the first to produce an industrial-scale premium value green fertiliser. Atome also aims to help decarbonise industries such as maritime shipping and heavy road transport through its green hydrogen production.

Today’s news demonstrates strong government backing for ATOME's Villeta Project. The swift approval of the Free-Trade Zone and Environmental License, crucial for project financing, also showcases Paraguay's stable political and economic environment. With a robust economy, low inflation (3% as of October 2023), and a Fitch Ratings outlook upgrade to BBB-, Paraguay positions itself as a favorable environment for ATOME's green fertiliser production ambitions.

Stock Chart | ATOM

Follow ATOME for more News and Updates: Follow | ATOM


Disclaimer & Declaration of Interest

The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

Recent Articles