GROWMARK, the agricultural cooperative, has made a minority equity investment in Wabash Valley Resources, enabling the first advance under the company's US Department of Energy loan and supporting construction of its fertiliser plant in West Terre Haute, Indiana, CropLife reports.
The facility is designed to produce 500,000 metric tons of anhydrous ammonia a year, a new domestic source of nitrogen fertiliser for farmers across the Eastern Corn Belt. Commercial operation is expected to begin in 2029.
"Our investment in Wabash Valley Resources will bring a new, independent source of ammonia closer to the farmers and cooperatives that depend on it," said Mark Orr, chief executive of GROWMARK. "It's a long-term investment in reliable domestic supply and the competitiveness of our member-owners." The cooperative runs crop nutrient and logistics operations and says it knows how much reliable supply matters during the growing season.
Dan Williams, chief executive of Wabash Valley Resources, called the investment "a pivotal milestone" and "a strong vote of confidence in independent ammonia production". He thanked the Department of Energy and its Office of Energy Dominance Financing for helping bring the deal about, and said the focus now is on building the plant safely and delivering a dependable supply of American-made fertiliser.
The announcement was distributed by AgPR.
Photo: Ammodramus (grain elevator and anhydrous ammonia tanks, Dixon, Nebraska) / Wikimedia Commons (CC0)
Source: CropLife
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