Green hydrogen fertiliser developer Atome has delayed its 2025 annual report and suspended share trading amid unresolved power purchase agreement (PPA) negotiations for its flagship Paraguay project.
The London-listed firm said it would defer publication of its accounts while negotiations with Paraguay’s state utility ANDE continue, after concluding the outcome could have a material impact on its financial statements.
Under AIM rules, Atome’s shares were temporarily suspended from trading after the company missed the 30 June deadline for publishing its annual results. The suspension will remain in place until the accounts are released.
It comes after Paraguay’s President repealed decrees granting industrial projects, including Atome’s $665m Villeta green fertiliser plant, preferential PPA tariffs just months after the project reached final investment decision (FID).
The PPA gave the project access to long-term, low-cost hydropower and became a central part of its financing package.
The company is now renegotiating terms with ANDE, which itself had opposed the decrees.
Atome Chair Peter Levine said the company continued to “take all steps necessary” to seek a “mutually acceptable amicable resolution” with the state-owned utility.
The Villeta project, which reached FID in April, is set to produce calcium ammonium nitrate using green hydrogen, which will be supplied to fertiliser major Yara under a 10-year offtake deal.
Levine added that preparatory work was continuing and the company was working with its engineering, procurement and construction contractors to maintain the original project schedule once construction is given the notice to proceed.
