For inquiries on this matter, please contact
- Mitsui & Co. (U.S.A.), Inc.
- JDCPhosphate, Inc.
Theodore (Tip) Fowler
NEW YORK, NY (August 6, 2012) Mitsui & Co. (U.S.A.), Inc. (“Mitsui USA”), a wholly owned subsidiary of Mitsui & Co., Ltd., announced its participation in JDCPhosphate’s recently completed financing round. The financing, which is being provided by a combination of strategic and venture investors, will fund the construction and operation of JDCP’s demonstration plant to scale-up validation of a new thermal process technology for the production of phosphoric acid.
The demonstration plant will have an annual production capacity of 12,000 tons per year of high quality and high concentration phosphoric acid. JDCP will license its process technology to phosphoric acid producers around the world.
In addition to Mitsui USA, financing is provided by a combination of strategic and venture investors, including Vulcan Phosphates LLC (a special purpose entity formed by Agrifos Fertilizer L.L.C), the Florida Opportunity Fund and Espirito Santo Ventures.
JDCPhosphate, Inc., based in Fort Meade, Florida, is developing and commercializing the Improved Hard Process (IHP) for the manufacture of phosphoric acid. More information may be found at www.phosphatesustainability.com
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. Beyond 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 customers 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.
This announcement contains forward-looking statements. These forward-looking statements are based on Mitsui USA's current assumptions, expectations and beliefs in light of the information currently possessed by it and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui USA’s or JDCP’s actual results, financial position or cash flows to be materially different from any future results, financial position or cash flows expressed or implied by these forward-looking statements. This announcement is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside of the United States, regarding any securities issued by JDCP or Mitsui USA.