Leaders Applaud DOE's $1.5 Billion Loan to Wabash Valley Resources

National, state, and industry leaders celebrate a transformative investment advancing U.S. fertilizer production, energy independence, and regional revitalization

WEST TERRE HAUTE, Ind., Oct. 29, 2025 /PRNewswire/ -- Following U.S. Secretary of Energy Chris Wright's announcement of a $1.5 billion DOE loan closing for Wabash Valley Resources (WVR), national and state leaders, technology partners, and investors issued the following statements celebrating this landmark investment in America's energy, industrial, and agribusiness future.

The Energy Dominance Financing (EDF) loan supports WVR's $2.6 billion clean ammonia fertilizer project, which will repurpose an existing clean-coal gasification plant for ammonia production.

What They Are Saying:

U.S. Energy Secretary Chris Wright
"For too long, America has been dependent on foreign sources of fertilizer," said U.S. Energy Secretary Chris Wright. "Under President Trump's leadership, we are changing that by putting America first, relying on American coal, American workers, and American innovation to power our farms and feed our families."

Governor Mike Braun, R-Ind.
"I commend President Trump, the U.S. Department of Energy, and their Energy Dominance Financing program for this wise investment in Indiana. Wabash Valley Resources is putting America first—transforming an idle fossil energy plant into a fertilizer engine that strengthens our farmers, bolsters energy independence, and revitalizes coal country. This is the kind of vision and leadership we need to compete globally."

U.S. Rep. Mark Messmer, R-Ind., 8th District
"This bold investment is exactly the kind of forward-looking initiative our communities deserve. President Trump is not only boosting American agriculture and energy independence, but also bringing jobs, prosperity, and renewed purpose to every corner of Indiana's 8th District. I applaud WVR and look forward to working hand in hand to ensure this succeeds for our farmers, our workers, and our nation's security."

Simon Greenshields, Chairman of the Board, Wabash Valley Resources
"We are grateful to the leadership of the U.S. Department of Energy and its Loan Programs Office for their confidence in our vision and steadfast partnership," said Simon Greenshields, Chairman of the WVR Board. "Senator Jim Banks, Congressman Mark Messmer, and Governor Mike Braun have been unwavering champions from the outset. Their commitment to strengthening Indiana's energy infrastructure and securing reliable fertilizer supply chains for America's farmers has been essential to reaching this milestone.

"We are equally honored by the trust shown by the Government of the Republic of Korea through its Ministry of Land, Infrastructure and Transport (MOLIT), and by our Korean investment partners, Hanwha Asset Management and Korea Investment Real Asset Management Co., Ltd. (KIRA), who have invested in Wabash," Greenshields added. "Wabash demonstrates what's possible when DOE's catalytic support is combined with trusted global capital. Together, we are forging a new chapter in U.S.–Korea energy cooperation that advances shared goals of industrial innovation, energy security, and economic resilience."

Dan Williams, Chief Executive Officer, Wabash Valley Resources
"This project is more than an investment; it's a new chapter for a world-class facility and the community that built it. With the support of the U.S. Department of Energy, our elected leaders, our Korean partners, and America's skilled workforce, we're restoring good-paying jobs and proving that rural Indiana can help lead America's clean energy future.

"We're especially grateful to the men and women of organized labor—particularly the national IBEW and our local building trades unions—whose skill and professionalism will bring this vision to life."

Peter Sherk, Founding Board Member, Wabash Valley Resources
"We are equally grateful for the patience, trust, and expertise of our strategic collaborators. The unwavering commitment and world-class innovation of Baker Hughes, Samsung E&A, Honeywell UOP, and Casale have helped transform an ambitious idea into reality."

Lorenzo Simonelli, Baker Hughes Chairman and CEO
"We are proud that with the Department of Energy's support, Wabash Valley Resources will leverage Baker Hughes' advanced technology, subsurface expertise and digital solutions – including the first application of CarbonEdge – to enhance American energy production. This partnership showcases how digital innovation can move forward the American energy renaissance."

Hong Namkoong, SAMSUNG E&A President & CEO
The Clean Ammonia Project with Wabash Valley Resources is a landmark initiative driven by close collaboration between the U.S. and Korean governments, as well as leading companies from both nations.

SAMSUNG E&A President & CEO, Hong Namkoong, said, "We are honored that SAMSUNG E&A is empowered to leverage its proven expertise and innovative technologies to ensure the successful execution of this project, contributing to a more progressive energy future and the continued growth of U.S. industry."

Ken West, president and CEO of Honeywell Energy
"As energy demand increases, Honeywell's carbon capture technologies help customers like Wabash Valley Resources optimize operations and reduce emissions to help boost the domestic production of important inputs like ammonia to support American agriculture," said Ken West, president and CEO of Honeywell Energy and Sustainability Solutions. "WVR's West Terre Haute facility highlights the importance of public-private partnerships and we appreciate the U.S. Department of Energy's support to advance innovative technologies that can modernize traditional industries and improve the reliability and resilience of the U.S. energy sector."

SOURCE Wabash Valley Resources