GROWMARK Takes Minority Stake in 500,000-Ton Indiana Ammonia Plant

A fertilizer facility designed to produce 500,000 metric tons of anhydrous ammonia per year moved closer to construction in West Terre Haute, Indiana, after GROWMARK, Inc. made a minority equity investment in developer Wabash Valley Resources (WVR).

The deal does more than place cooperative capital on the WVR balance sheet. GROWMARK's stake facilitates the first advance under WVR's U.S. Department of Energy (DOE) loan, unlocking federal financing for a plant that would become a major new domestic ammonia source for farmers across the Eastern Corn Belt. Commercial operations are expected to begin in 2029.

Anhydrous ammonia (a nitrogen fertilizer applied directly to soil, primarily for corn) remains one of the most price-sensitive inputs in row-crop budgets, and Eastern Corn Belt growers have long depended on supply chains that route product from Gulf Coast and Midwest production hubs. A 500,000-ton plant sited in west-central Indiana would shorten that haul and add an independent producer to a market concentrated among a handful of global manufacturers.

What does the investment change for growers?

GROWMARK, an agricultural cooperative with extensive crop nutrient and logistics operations, framed the deal as a supply-security play for its member-owners rather than a near-term trading position.

"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, CEO of GROWMARK. "It's a long-term investment in reliable domestic supply and the competitiveness of our member-owners."

For cooperative members, the practical effect is proximity: production near the communities GROWMARK serves reduces exposure to the freight and availability bottlenecks that tighten ammonia basis (the local price differential to benchmark quotes) during spring application windows.

How does the DOE loan advance fit in?

The GROWMARK investment triggered the first draw under WVR's DOE loan, with the department's Office of Energy Dominance Financing credited by the developer for bringing the transaction to completion. That structure positions the project to move from development into construction financing.

"GROWMARK's investment is a pivotal milestone for WVR and a strong vote of confidence in independent ammonia production," said Dan Williams, WVR's CEO. "With this investment, we move closer to turning years of development into a dependable source of American-made fertilizer. Our focus now is on building the facility safely and delivering a dependable supply of American-made fertilizer to the farmers who feed our country."

Williams also thanked the DOE and its Office of Energy Dominance Financing for helping bring the transaction to fruition.

The 2029 startup target means no new supply reaches growers for several growing seasons; the nearer-term signal is structural, as cooperative equity and federal debt financing combine to expand domestic nitrogen capacity. Growers and retailers in the Eastern Corn Belt will watch construction milestones at West Terre Haute as the first hard test of that timeline.