Business
Unaudited Results for 6 Months Ended 30 June 2024
Unaudited Results for 6 Months Ended 30 June 2024.
About this update from Atome Plc
[{"type":"text","content":"\n\n19 August 2024\nATOME PLC\n(\"ATOME\", \"the Company\", or \"the Group\")\n \nUnaudited Results for the Six Months Ended 30 June 2024\nCurrent Trading Update with Positive Progress\n \nATOME (AIM: ATOM), a recognised world-leading green fertiliser platform, is pleased to announce its unaudited results for the six-month period ended 30 June 2024 which are set out below together with a current trading update.\n \nH1 2024 Operational Highlights:\n \n- Successful completion of the Front-End Engineering and Design study (\"FEED\") for Villeta Project (\"Villeta\" or \"the Project\"). \n- Positive progress on the project financing for the Villeta project with interest in debt financing suggesting some 3x oversubscription.\n- Successful completion of pre Power Purchase Agreement (\"PPA\") studies for the 300MW Yguazu project in Paraguay, twice the size of Villeta.\n- Framework Collaboration Agreement with ICE, Costa Rica's state-owned power company, for feasibility studies and a roadmap towards an industrial scale green fertiliser facility in that country.\n \nH1 2024 Financial Highlights:\n \n- In February and March 2024, the Company completed successful placings of shares to the Directors, related parties and institutional shareholders totalling in aggregate US$2.9 million gross in value and for which His Majesty's Revenue and Customs granted the Company EIS investment status for certain qualifying investors.\n- For the six months ended 30 June 2024, ATOME recorded a loss of US$2.8 million (H1 2023: US$ 2.6 million), with US$6.2 million of costs capitalised in relation to the 145MW Villeta Project (H1 2023: US$ 2.1 million).\n- The Company's Chairman and leading shareholder granted a facility of US$5 million starting from Q3 2024 to end Q3 2025 sufficient to support Group working capital requirements.\n \nPost H1 2024 Events:\n \n- Heads of Terms signed with Yara International ASA (\"Yara\") for long term offtake of Villeta's entire production. Yara, 43% owned by the Norwegian Government, is the leading global crop nutrition company, reporting revenues of over US$15 billion in 2023.\n-&n...