JDC Phosphate Raises $16.4M Series B Round With Participation From Florida Opportunity Fund

JDC Phosphate, a Ft. Meade startup commercializing a new dry kiln process for manufacturing phosphoric acid, has raised a $16.4M Series B round from Mitsui & Co. Inc., Vulcan Phosphates LLC, the Florida Opportunity Fund, and Espirito Santo Ventures.  JDC’s dry kiln process promises to have significant cost, quality, and environmental advantages over traditional manufacturing techniques and can process phosphorous reserves which are not cost effective to do so today.   Capital raised earlier had allowed JDC to complete construction on about 30 percent of a demonstration plant in Ft. Meade with annual production capacity of 12,000 tons per year of phosphoric acid.  With this additional funding, the Company expects to begin operations in the first quarter of next year. Read more here.