PRODUCTS: PHOSPHORIC ACID
Our process produces high-quality phosphoric acid suitable for value-added products that sell at a premium, driving $B markets
Fertilizer
Phosphoric acid is used in both solid and liquid fertilizers—the latter being in low supply and difficult to produce because it requires high quality phosphoric acid; liquid fertilizers are compatiblewith no-till ariculture andhelp reduce inefficient use of phosphates.
$201B
Global Fertilizer Market in 2021 including $15B1 in liquid fertilizer (growing at a 3.4% CAGR)2
Lithium-Ion Batteries
Li-ion batteries replace environmentally harmful nickel/cobalt batteries and require high quality phosphoric acid. Production of LFPs and phosphate precursors neededfor Li-ion batteries is dominated by Chinese producers while global demand surges for use in EVs and grid-scale storage.
$66B
Global Lithium-Ion Battery market in 2021 (growing at a 19.3% CAGR to $274B by 2030)3
Other Phosphoric Acid Applications
Pharmaceuticals
Food & Beverage
Cleaning Products
Water & Metal Treatment
Flame Retardants
Cosmetics
Chemical Manufacturing
Laboratory & Research
Animal Feed
"The global phosphate industry urgently needs to adopt new production technology to enable the use of low-quality phosphate rock reserves, to cost effectively produce liquid fertilizers and to improve its environmental footpring, in particular as it relates to phosphogypsum and phosphogypsum process water. The Novaphos process is a potential production technology game changer and solution to these challenges."
—Klaas Hutter, Retired VP J. R. Simplot
1Precedence Research 2Precedence Research 3Spherical Insights