Hy24’s Clean Hydrogen Investment Fund could commit up to $115m to finance Atome’s 145MW green hydrogen-based fertiliser project in Villeta, Paraguay.
The investment fund inked a non-binding heads of terms with Atome, which would see it become the project’s lead equity partner as the development targets a final investment decision (FID) by the end of H1 2025.
Under the deal, Hy24 could commit between $100m and $115m to the Villeta project. Additionally, before taking FID, if Atome reaches “pre-defined milestones” Hy24 will advance up to $5m of the proposed equity.
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