Wabash Valley Resources is set to receive $1.6 billion in funding from the U.S. Department of Energy.

The US Department of Energy will offer up to $1.6 billion in loan guarantees to Wabash Valley Resources to support their carbon capture and storage (CCS)-based ammonia production facility in Terre Haute, Indiana. Once completed, it will be the only ammonia plant in Indiana, producing 500,000 tons of anhydrous ammonia annually, a significant portion of the Corn Belt's current consumption. This project, along with Monolith Material's Olive Creek plant, is one of only two ammonia facilities to receive loan guarantees from the DoE's Loan Programs Office (LPO). The LPO aims to provide further financial backing for ammonia projects in the US, including retrofitting existing plants for low-emission production.

Wabash Valley Resources estimates the total project investment at $2.4 billion. In February, the EPA granted the company two Class VI licenses for underground carbon sequestration, allowing the construction of two wells to inject and store CO2 underground.

The Loans Program Office attended the 2023 AEA conference in Atlanta, where it emphasized the importance of certification in project financing and encouraged ammonia project developers to utilize the loan programs. The LPO will also be participating in the upcoming 2024 event in New Orleans.