Published by Todd Bush on December 5, 2023
NORTHBROOK, Ill.--(BUSINESS WIRE)--CF Industries Holdings, Inc. (NYSE: CF) today announced that it has closed its acquisition of Incitec Pivot Limited’s (“IPL”) ammonia production complex located in Waggaman, Louisiana.
Under the terms of the agreement, CF Industries purchased the Waggaman ammonia plant and related assets for $1.675 billion, subject to adjustments. The companies allocated approximately $425 million of the purchase price to a long-term ammonia offtake agreement under which CF Industries will supply up to 200,000 tons of ammonia per year to IPL’s Dyno Nobel subsidiary at production economics. CF Industries funded the remaining purchase price with cash on hand.
>>Read about CF Industries Holdings, Inc.
“We are pleased to grow our industry-leading ammonia production capabilities with the addition of IPL’s Waggaman ammonia production facility and team,” said Tony Will, president and chief executive officer, CF Industries Holdings, Inc. “This transaction deploys our capital efficiently, delivering immediate profitable growth by adding one of the newest ammonia production units in North America into our existing network while advancing our long-term strategic focus on low-carbon ammonia as a clean energy source.”
Along with its offtake agreement with IPL, CF Industries will continue to fulfill medium- and long-term offtake agreements with two customers that were in-place prior to the acquisition. The Company estimates that these agreements will generate gross margin per ton commensurate with its existing ammonia segment prior to the greater capacity utilization and operational and logistics optimization CF Industries expects to achieve with the site’s integration into the Company. Additionally, CF Industries anticipates implementing carbon capture and sequestration (CCS) technologies at the site on an accelerated timeline, increasing its network’s low-carbon ammonia production capability while earning 45Q tax credits for sequestered carbon dioxide.
At CF Industries, our mission is to provide clean energy to feed and fuel the world sustainably. With our employees focused on safe and reliable operations, environmental stewardship, and disciplined capital and corporate management, we are on a path to decarbonize our ammonia production network – the world’s largest – to enable green and blue hydrogen and nitrogen products for energy, fertilizer, emissions abatement and other industrial activities. Our manufacturing complexes in the United States, Canada, and the United Kingdom, an unparalleled storage, transportation and distribution network in North America, and logistics capabilities enabling a global reach underpin our strategy to leverage our unique capabilities to accelerate the world’s transition to clean energy. CF Industries routinely posts investor announcements and additional information on the Company’s website at www.cfindustries.com and encourages those interested in the Company to check there frequently.
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 🔧 America Bets Big on Blue Hydrogen: Inside the Engine Revolution Backed by Top Institutions 🤖 Bringing AI to Carbon Capture: How Imperial College is Revolutionising Plant Operat...
Inside This Issue 💰 Shell, Equinor, Totalenergies to Invest $714 Million in Carbon Storage Expansion 🚢 AiPs Obtained for Liquefied CO₂ Carrier Design and Floating Liquefied Storage Facility 🌱 Stoc...
Inside This Issue 🌍 Innovating the Future: Gautam Swami's Global Journey in Low-carbon Energy and Finance 🌊 Captura Announces Sale of Carbon Removal Credits and Strategic Partnership With Mitsui O...
Willis Sustainable Fuels Progresses Teesside SAF Project
COCONUT CREEK, Fla., March 31, 2025 (GLOBE NEWSWIRE) -- Willis Lease Finance Corporation (NASDAQ: WLFC) (“WLFC” or the “Company”), the leading lessor of commercial aircraft engines and global provi...
City of Winona Expands Renewable Energy Capacity at Wastewater Treatment Plant with Capstone Green Energy Microturbines Project Costs Were 90% Covered Through Federal Tax Credit and DOE Grant LOS...
OSLO, Norway, March 27, 2025 /PRNewswire/ – The world's first large-scale BECCS (bioenergy with carbon capture and storage) project is moving into construction following a final investment decision...
Broomfield, CO, March 31, 2025 (GLOBE NEWSWIRE) -- Strategic Environmental & Energy Resources, Inc. (SEER) (OTCQB: SENR), forms SEER Carbon Corp. as the entity to spearhead efforts to produce i...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.