Fort Meade, Fla. — JDCPhosphate Inc. (JDCP) said Feb. 25 that it has raised an additional $8 million to advance and expand its development and commercialization activities, through the issue of shares to existing shareholders. JDCP raised $39 million to fund the development, construction, and operation of its 12,000-ton-per-year demonstration plant in Fort Meade, Fla., and to begin the process of commercializing its technology. JDCP says the technology produces high purity phosphoric acid using low-grade phosphate rock, without the production of solid or liquid waste. JDCP reported its first full operation of the demo plant in November 2013. Since then, it reports positive results. JDCP will also be working to more fully evaluate and market a companion product produced by the process technology – an aggregate branded J ROX. “I am excited about the significant progress the company has made and appreciate the continued support of our investors,” said Tip Fowler, JDCP CEO. “This capital will allow us to accelerate our efforts to refine operations at our new Ft. Meade facility and to begin to shift our focus to commercialization of the technology.” One investor, Australian junior company Minemakers Ltd., used the opportunity to invest another US$900,000 in JDCP and increase its stake to 7.5 percent.
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