Novaphos

About Novaphos

Novaphos, founded in 2008 and formerly known as JDCPhosphate, is a company headquartered in Fort Meade, Florida, that is modernizing the production of phosphates. The company operates within the agricultural chemicals and AgTech industries, focusing on creating a more sustainable and efficient method for producing high-quality phosphoric acid. The firm's business model centers on its proprietary processing technology that transforms low-quality phosphate rock and even mine tailings into high-purity phosphoric acid, a crucial component for fertilizers and lithium-ion batteries. This process is positioned as a lower-cost alternative to traditional methods, which have remained largely unchanged for a century.

The company's technology offers significant environmental advantages by avoiding the production of phosphogypsum, a large-scale, noxious waste byproduct of conventional phosphate processing. Instead, Novaphos' method yields a saleable co-product called J-Rox™, a type of calcium silicate aggregate suitable for construction. Novaphos has also developed a second process capable of reprocessing existing phosphogypsum stockpiles, converting them into useful sulfur gases that can be recirculated in industrial processes. The high-quality phosphoric acid produced is well-suited for high-value applications, including liquid fertilizers that allow for more precise application and reduced environmental runoff. This addresses a critical need in the market, as U.S. phosphate production capacity has shrunk by nearly 40% in recent decades, leading to increased reliance on imports.

Novaphos was established to address the inefficiencies and environmental impact of the incumbent wet-acid process. After over a decade of development and significant investment, the company is now moving to commercialize its technology. Its growth strategy involves commercialization through building its first U.S.-based plant, expanding its operations, forming strategic partnerships with fertilizer producers and engineering firms, and leveraging its extensive intellectual property portfolio. The company has raised a total of $63.5M in funding over several rounds, with investors including the United States Department of Agriculture, Stonecutter Capital Management, and Armilar Venture Partners. Novaphos is led by CEO Timothy Cotton and a board that includes executives with deep experience in the mining and fertilizer industries.