GROWMARK's stake unlocks first draw on $1.5B federal loan for Indiana ammonia plant
What's the deal? GROWMARKDealroom has a profile for this one. Try Dealroom →, an agricultural cooperative based in Bloomington, Illinois, has made an undisclosed minority equity investment in Wabash Valley Resources (WVRDealroom has a profile for this one. Try Dealroom →), a private developer building an ammonia fertilizer plant in West Terre Haute, Indiana. The deal, announced October 23, 2026, unlocks the first advance under WVR's roughly $1.5 billion US Department of EnergyDealroom has a profile for this one. Try Dealroom → loan.
What's the endgame? WVR is repurposing a former coal gasification plant into a facility designed to produce 500,000 metric tons of anhydrous ammonia a year. The aim is a new domestic fertilizer source for Eastern Corn Belt farmers, reducing US reliance on imports. Commercial operations are targeted for 2029.
Why now? The DOE's roughly $1.5 billion conditional loan commitment, from its Office of Energy Dominance Financing, was finalized in October 2025. GROWMARKDealroom has a profile for this one. Try Dealroom →'s stake was the trigger that moved the project from financing commitments to construction.
"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 GROWMARK chief executive officer Mark Orr. He called it "a long-term investment in reliable domestic supply."
WVR chief executive officer Dan Williams described the deal as "a pivotal milestone" and "a strong vote of confidence in independent ammonia production." The size of GROWMARK's stake and its ownership percentage were not disclosed.
What could go wrong? The 2029 timeline means this is no immediate supply fix. With construction only just beginning, execution and delivery remain the key tests.
The signal: The deal lands amid a broader US push to expand fertilizer production — the USDA selected eight projects in October 2026 representing more than $1.34 billion in proposed investment. WVR's scale and co-op backing make it more consequential than a routine minority round — if it reaches production.
Read more: Inside INdiana Business · GROWMARK
Image credit: Sharon Loxton / Geograph Britain and Ireland, CC BY-SA 2.0
