California company buys fertilizer plant in Nebraska | Local News

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Heidi Kelly, the company’s chief operating officer, said the company’s involvement in agriculture was a big reason it purchased the plant.

“Domestic nitrogen facilities are fortress assets, (and) this chemical business intersects strategically with our industrial complex throughout the West,” Chad Brownstein, chairman of Rocky Mountain Resources and Nebraska Nitrogen, said in a news release. Tetrad Corp. of Omaha, the same firm that developed Nebraska Innovation Campus in Lincoln, built the plant in 2017 at a reported cost of $75 million and had owned and operated it since. It has the capacity to produce 36,000 tons of nitrogen-based fertilizer annually.

Among the company’s other assets are an oil and gas company that operates in Colorado, Wyoming and Montana, a limestone quarry in Colorado and a firm that invests in farming and water projects. Terms of the sale were not disclosed, although the company said the plant has an asset value of about $130 million.

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