IFC Backs Paraguay's First Green Fertilizer Plant, Creating Jobs, Advancing Sustainable Agriculture and Food Security

Asunción, Paraguay – March 13, 2026 – The International Finance Corporation (IFC), a member of the World Bank Group, has announced the signing of debt financing documents for the Villeta Green Fertilizer Project, a pioneering initiative developed by ATOME PLC, that will establish one of the world’s first commercial-scale clean hydrogen-based fertilizer plants, based in Paraguay.  The project will support the country’s longstanding objective of moving up the value chain by transforming its abundant renewable energy into higher value-added industrial production, while creating jobs, strengthening fertilizer and food supply resilience in key agricultural inputs, and advancing industrial diversification.

The project is expected to positively impact employment opportunities, with over 1,265 new direct jobs created during the construction phase, and nearly 200 skilled and semi skilled positions during operations. The project’s spillovers are expected to generate indirect employment primarily in transportation and logistics (river and road freight linked to production and export), construction and engineering services (ongoing maintenance and infrastructure), and local supply chain services and SMEs (e.g., supplying goods and services).

Additional employment in the broader agricultural value chain is anticipated as domestic fertilizer production boosts agribusiness services. These benefits will be reinforced by the project’s targeted efforts to increase women’s participation in the industrial workforce, which can spur vocational training and more inclusive hiring in Paraguay.

The Atome Villeta Green Fertilizer Project will utilize Paraguay’s abundant renewable hydropower resources to produce low-carbon Calcium Ammonium Nitrate (CAN) fertilizer through electrolysis. The project aims to reduce dependency on foreign supply of fossil fuel-based nitrogen fertilizers into the Mercosur region, where over 90% of demand is currently imported, enabling a more sustainable and secure agricultural supply chain for the major food-producing region

“IFC is proud to support this innovative project, which not only has a positive impact on agriculture but also creates meaningful jobs and skills enhancement opportunities for the people of Paraguay,” said Manuel Reyes Retana, Division Director for Brazil, Argentina, Uruguay and Paraguay at IFC. “This initiative underscores our commitment to promoting sustainable development in the region.”

“We greatly value the IFC and GCF’s support for this landmark project, which ATOME has pioneered from the ground up. Our Villeta plant enables industrial-scale fertilizer production free from fossil fuel dependence — a critical advance for global food security and the long-term profitability of agricultural supply chains. Together with the financial coalition we have built, IFC’s and GCF’s backing proves that green fertilizer is not just environmentally essential, but a compelling and sustainable business opportunity”, said Olivier Mussat, CEO of ATOME PLC.

The Green Climate Fund’s (GCF) Director, Department of the Latin America and the Caribbean Region, Kristin Lang, said: “The Atome Villeta Green Fertilizer Project represents a paradigm shift in large-scale green fertilizer investments in emerging markets. It is also one of GCF’s landmark investments in industrial decarbonization. This innovative project will strengthen food security as well as transform the regional market in fertilizer by reducing imports from outside of the region.”

The Atome Villeta Green Fertilizer Project is a first-of-its-kind investment in the global fertilizer industry, demonstrating the commercial viability of clean hydrogen as a feedstock for low-carbon fertilizer production. As Paraguay’s first large scale clean hydrogen-to-fertilizer facility, the project is globally emblematic in showcasing the use of renewable energy for sustainable industrial outputs.  It is expected to inspire similar projects across Latin America & the Caribbean and globally, catalyzing the adoption of sustainable production pathways.

Note to Editors

IFC played a central risk-absorbing role in the transaction by structuring a bespoke subordinated tranche of the deal, committing US$25 million in mezzanine debt that absorbs downside risk at the project level. This subordinated position, combined with IFC’s role in mobilizing a US$50 million concessional loan from the Green Climate Fund (GCF), was critical to addressing the higher perceived risks associated with first-of-a-kind, capital-intensive green hydrogen investments. By improving the project’s risk-return profile for lenders and investors, this blended finance structure was essential to achieving bankability and crowding in DFI and commercial capital.

Concessional finance of this nature is widely recognized as a key enabler for new technologies, unlocking private investment at scale. IFC also acted as Sustainable Finance Coordinator for Latin America’s first green loan for a commercial-scale green fertilizer plant. 

About ATOME

ATOME PLC is an AIM-listed company and a leading developer of dedicated low-carbon fertiliser projects with a material pipeline of projects across South and Central America. ATOME’s flagship Villeta Project is located in Paraguay - the heart of the Mercosur region’s agricultural and food production markets – and aims to disrupt the region’s heavy dependence on imported fossil fuel-based fertiliser, contributing to regional food security goals and supplying the agricultural sector with efficient and sustainable products. ATOME has also now created its ATOME POWER division which is in the early stages of developing a significant renewable power generation and battery infrastructure business.