Powerdyne, a California-based company, has purchased more than 60 acres along the Wabash River in Terre Haute, county and township records confirm.
The company, reached Wednesday, would not confirm or deny that the land, formerly the site of International Paper on Indiana 63, would be the location of the company's much-anticipated Vigo County plant to convert sewage sludge into diesel fuel.
According to sales disclosure information available through the Harrison Township Assessor's office, the purchase from International Paper Co. for the roughly 65 acres was listed in the amount of $550,000.
The purchaser of the property is Highland TH LLC, according to a deed filed Nov. 12 with the Vigo County Recorder's Office. Highland TH LLC is a wholly owned subsidiary of Powerdyne Terre Haute Holdings LLC.
The purchased property was once the main plant location for International Paper, which closed at the end of 2007. The purchased land does not include the former International Paper lagoons, which are large ponds now owned by the City of Terre Haute.
The land is bordered on the south by the former Western Tar property and land owned by the city. It is bordered to the north by Southwest Auto and land now owned by the Terre Haute Sanitary District. To the immediate west is wooded property along the river owned by the City of Terre Haute. East of the property is Voorhees Park.
News of the transaction comes after weeks of speculation about where a Powerdyne plant might be located.
The plant is expected to convert wastewater sludge into diesel fuel. On Tuesday, Powerdyne issued a news release stating it was investing "hundreds of millions of dollars" to build a sewage-to-diesel plant creating hundreds of new temporary and permanent jobs in Terre Haute. The plant would help make Terre Haute a "green" model for other cities in dealing with wastewater sludge in a cost-effective, environmentally friendly, emission-free way, according to the release.
The plant will be operational in about 24 months, the company stated in the news release. Speaking Tuesday, Geoff Hirson, Powerdyne president, could not say when a "ground breaking" would take place.
The City of Terre Haute purchased 280 acres of mostly wooded former International Paper property in 2010 for $267,000. At the time of the purchase, the city planned to use ponds on the property for storage of combined storm water and sewage. Those plans have changed, and the lagoons will no longer be used for that purpose.