JDC Financing Announcement

While the announcement of JDC Phosphate securing full funding to move towards commercialisation was announced in a little while ago, I don't know if it has been on their website up until now? In any case, this is on the JDC website today:

JDCPHOSPHATE SECURES FUNDING FOR FULL COMMERCIALIZATION

Stonecutter Phosphate Investors fund technology for safer, sustainable processing
JDCPhosphate, Inc. has closed an equity financing deal with Stonecutter Phosphate Investors LLC, an affiliate of Stonecutter Capital Management LLC.  The Stonecutter investment accelerates JDCPhosphate’s next step to commercialize the company’s innovative Improved Hard Process (IHP) technology for producing high-quality phosphoric acid using low-quality phosphate rock, a patented process that eliminates the creation of toxic gypsum waste.
“We are extremely pleased to have Stonecutter join JDC as a co-investor,” said Farouk Chaouni, JDCPhosphate Executive Chairman. “The company is ready to move forward with commercialization of IHP on an aggressive timetable. This will enable more sustainable and efficient production of phosphate fertilizers.”
JDC will modify its facility in Fort Meade to complete the processing design package for a full-scale commercial IHP plant. The facility will test various qualities of phosphate rock raw material in the IHP process, allowing potential licensors to validate the process for the phosphate ore sources they have available.
JDC expects to complete the plant modifications by early 2018.  Independent engineering studies will be conducted ahead of commercial deployment of IHP.  The company was recently granted a U.S. patent covering its proprietary induration process, a core component of the IHP technology. JDC will continue to expand its base of intellectual property as it makes further technology improvements.
Samuel Cole, a principal at Stonecutter, said, “At Stonecutter, we look for companies with strong management teams focused on highly compelling market opportunities. Stonecutter is excited to be able to participate in the JDC story.”
The Improved Hard Process for producing phosphoric acid for agriculture and industry is one of the most significant developments in decades for the global phosphate industry. JDC’s technology has gained attention for its ability to lower costs, adapt to lower grade rock, and remove the gypsum waste threat to the environment.  Stonecutter Phosphate Investors fund technology for safer, sustainable processing
As the company moves to full commercialization, JDC also announced that Timothy Cotton has been appointed Chief Executive Officer. Mr. Cotton is a member of the company’s board of directors and a principal of the Agrifos Group, one of JDC’s largest shareholders. David Blake has been named Chief Operating Officer. Tip Fowler has been named Director of Business Development.
Stonecutter Capital Management LLC is a New York-based investment management firm founded in 2012. Stonecutter and its principals have acquired interests in various operating businesses and real estate projects throughout the United States.