Date: Aug 06, 2012 Source: Company Data (
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JDCPhosphate, Inc. of Fort Meade, Florida (JDCP) has closed an equity financin g sufficient to fund the construction and operation of a demonstration plant with annual production capacity of 12,000 tons per year of high quality and high concentration phosphoric acid. The investors are a combination of strategic and venture investors, including Mitsui & Co. (U.S.A.), Inc. , Vulcan Phosphates LLC (a special purpose entity formed by the owners of Agrifos Fertilizer L.L.C), the Florida Opportunity Fund and Espirito Santo Ventures.
The patented process technology being implemented in the demonstration plant - the Improved Hard Process (IHP) - was developed by Dr. Joseph Megy, the founder and Chief Technology Officer of JDCP. The process incorporates a number of critical developments and improvements to the kiln phosphoric acid technology d eveloped by Dr. Robert Hard and Dr. Joseph Megy in the early 1980s.
"We are delighted that such a strong international syndicate of strategic partners and venture investors has decided to invest in this important technology", said Theodore "Tip" Fowler, CEO of JDCPhosphate. Jennifer Dunham, Managing Director of the Florida Opportunity Fund added, "It is not often that one finds an opportunity to invest in a company with the potential to transform a $30 billion industry, as well as substantially impact the local economy. JDCPhosphate has the potential to be such a company."
JDCPhosphate, Inc. , based in Fort Meade, Florida, is commercializing the Improved Hard Process (IHP) for the manufacture of phosphoric acid. Contact: T.P. (Tip) Fowler, 863-285-8607, www.jdcphosphate.com.
About Florida Opportunity Fund
The Florida Opportunity Fund (FOF) was established in 2007 to increase the availability of venture capital in Florida. The FOF actively invests in Florida - focused venture capital funds, infrastructure projects, and emerging Florida - focused companies within industries of strategic importanc e to the State, including: Energy, Healthcare, Manufacturing, and Technology. The FOF is sponsored by Enterprise Florida and managed by Florida First Partners. For additional information regarding the FOF visit www.floridaopportunityfund.com.
About Mitsui & Co. (U.S.A.), Inc.
Mitsui USA was incorporated in 1966 in New York as a wholly owned subsidiary of Mitsui & Co., Ltd., Tokyo, Japan, a leading international trade and investment company operating with an extensive global network. Beyo nd traditional trading, the Company’s newer emphasis is on project development and management, business investment, capital goods leasing and technology transfer. With its comprehensive services capabilities, Mitsui USA aspires to meet the needs of its cus tomers as "Your Global Business Partner®," while committed to sustainable growth and good corporate citizenship. More information on Mitsui USA may be found at www.mitsui.com/us.
Agrifos is a privately owned producer of sulfuric acid and am monium sulfate fertilizer located in Pasadena, Texas.
About Espirito Santo Ventures
Espirito Santo Venturesis a venture capital irm o the sp rito anto Group, ocused on technology - based companies and innovative business projects with high - growth potential. Based in Lisbon, Portugal and with more than 250 million Euros in assets und er management, sp rito anto Ventures invested in over 40 companies that are developing worldwide leading products and services in the areas of Clean Tech, Health Care and Well - being and IT. For more information please visit www.es-ventures.com.
This press release contains forward - looking statements that reflect JDCPhosphate, Inc.'s current expectations about its future results, performance, prospects and opportunities. Statements in this press release that are not historical facts, such as "anticipat es," "believes," "intends," or similar expressions, are forward - looking statements. These statements are subject to a number of risks, uncertainties and other factors that could cause actual events or results in future periods to differ materially from wha t is expressed in, or implied by, these statements. JDCPhosphate cannot assure you that it will be able to successfully commercialize its IHP process , manufactu re and conduct development efforts in other geographies around the globe, obtain regulatory app roval for production plants, or that it will be able to successfully obtain any further funding. In addition, the development and commercialization efforts of JDCPhosphate may be reduced or discontinued due to difficulties or delays in the construction or development process or due to lack of progress or positive results from commercialization efforts . These and other risk factors exist with respect to JDCPhosphate’s growth and development. JDCPhosphate assumes no obligation to update or revise any forwar d - looking statements as a result of new information or future events.