VINACHEM

The Trump administration has finalized a $1.5 billion loan guarantee for an an Indiana-based company to produce ammonia fertilizer.

The financing for Wabash Valley Resources LLC will be used to restart and repurpose a coal gasification plant idled since 2016. It intends to produce 500,000 metric tons of anhydrous ammonia per year using as feedstock coal from a Southern Indiana mine and petcoke, the Energy Department said in a statement Wednesday.

The loan was initiated by the Biden administration, which awarded the project a conditional commitment in September 2024, and said the project would provide a source of low-carbon fertilizer using carbon capture and sequestration.