PR-Inside.com: 2014-04-14 13:03:46
Jourdan, Autris and Process Research Ortech to Sign Joint Venture Agreement to Develop Techonlogy for on Demand Ammonia Production
* Plan to develop a new process for creating ammonia
* Ammonia and phosphoric acid are key inputs to DAP, the most widely manufactured global phosphate fertilizer
* Testing and technology development to be conducted by Process Research Ortech using Nitroheat Technology
Toronto, Ontario (FSCwire) - JOURDAN RESOURCES INC. (TSX-V: JOR) JOURDAN” or the “Company (www.jourdan.ca), AUTRIS (OTC: AUTR) AUTRIS (www.autris.com) and PROCESS RESEARCH ORTECH PRO (www.processortech.com); together with Jourdan and Autris, the Parties) are pleased to announce the signing of a Joint Venture Term Sheet Agreement with respect to the formation of a joint venture by the Parties to investigate, develop and commercialize a patentable technology required for the production of on demand ammonia for the fertilizer industry.
Under the Term Sheet Agreement, Jourdan agrees to make an initial contribution of $1 million (or such lower amount as may be required to develop the ammonia generation technology) to the joint venture in consideration for a 34% initial participating interest in the joint venture. PRO agrees to provide its services to investigate and develop the nitrogen generation technology in consideration for a 33% initial participating interest in the joint venture. In consideration for the remaining 33% initial participating interest in the joint venture, Autris agrees to contribute one of its nitrogen generators to be installed at PRO’s testing facility located in Mississauga, Ontario and to contribute sufficient amount of its on demand 98% pure Nitrogen to the joint venture as may be required by PRO for the purpose of developing the ammonia generation technology. Autris further agrees to the use of its patented technology associated with its nitrogen generators by the joint venture for the purpose of developing the ammonia generation technology. The technology, when and if, successfully developed, shall form the property of the joint venture. Upon completion of the development of the ammonia generation technology, any net profit resulting from the commercialization of such technology shall be reinvested in the joint venture or distributed to the Parities on a pro rata basis in accordance with their respective participating interests in the joint venture. Upon completion of the development of the ammonia generation technology, Jourdan shall have exclusivity for use of the technology in the fertilizer sector for a period of two years, which period may be extended if certain milestones in expenditures are met by Jourdan. The terms set forth in the Term Sheet Agreement are subject to a definitive Joint Venture Agreement to be entered into by the Parties within 60 days from the date of the Term Sheet Agreement, or such later date as may be mutually agreed upon by the Parties.
“Our intention is to build upon the Nitroheat technology developed by Autris to develop an on demand and scalable ammonia production unit using globally available inputs. With the potential to use solar, wind, geothermal or hydro power as our energy source, we would like to deliver a solution that uses renewable energy, and where no carbon dioxide is a generated in the process” states Michael Dehn, President and CEO of Jourdan. “Looking at the best opportunity to be able to produce DAP using Phosphate Rock from our Quebec properties it became apparent that there was room to modernize the process of producing ammonia. Previous success that I have had with PRO while I was at Argex in developing the CTL process for titanium dioxide production gives me the confidence that PRO is well positioned to deliver a solution to producing ammonia and ultimately DAP
Ammonia is one of the most widely produced inorganic chemicals. Annual global production totals more than 131 million tonnes, with China producing approximately one third of production.
Ammonia production is a significant component of the world energy budget at consuming more than 1% of all man-made power. For a detailed fact sheet on ammonia please follow this link: goo.gl/EPZSoO
“Our unique solution to produce nitrogen came from our expertise in the automotive and spray painting markets. After meeting with Jourdan’s management it quickly became obvious that there was an opportunity for our technology to be the base for a new way to make ammonia. As the Nitroheat Nitrogen generators are able to produce nitrogen on demand, we foresee the opportunity with Jourdan and PRO to be able to produce ammonia on demand asserts Derek Naidoo, CEO of Nitroheat and Autris.
Traditionally, hydrocarbons are a significant input into the production of ammonia. In Canada, Natural gas costs represents more than 70% of the input costs. The fertilizer industry consumes about 8% of the natural gas used in Canada (source: Canada Ammonia Producers: Benchmarking Energy Efficiency and Carbon Dioxide Emissions). Canadian plants rank first as the most feed-and-fuel efficient plants in the world.
Dr V. I. Lakshmanan, Vice-Chairman and CEO of PRO advocates “PRO has repeatedly demonstrated itself as a premier solution provider to the natural resources industry. With the opportunity to build upon our scientific and engineering expertise in raw materials, energy, mining and the chemical industries, PRO together with Autris and Jourdan, we endeavour to produce an energy efficient, environmentally friendly, socially acceptable and sustainable solution for ammonia production
In making ammonia, hydrogen combines with nitrogen under pressure to produce anhydrous liquid ammonia. DAP is produced by phosphoric acid (produced from phosphate rock and acid) combining with ammonia. The end product is a dry granular fertilizer with excellent handling and storage properties. The standard grade of DAP is 18-46-0 (Nitrogen-Phosphorus-Potassium). For a detailed fact sheet of DAP please follow this link: goo.gl/L1RPXa
Jourdan would also like to announce that Mr. Nicholas Konkin of AgriConsultant will advise the Company with respect to potential fertilizer and micronutrient opportunities as well as potential partnerships . Mr. Konkin has over five years of capital markets experience specifically joint ventures and issuer/project funding.
Innovative & Efficient Technologies: Science and engineering dominate Autris’s approach as its engineers seek innovative solutions and products. Autris’s flagship product NITROHEAT™ uses the power of nitrogen in an innovative process to alleviate a variety of common painting issues in industrial applications.
NITROHEAT™ is a manufacturer and distributor of nitrogen generators and compressed gas heaters. This unique solution is currently supplied into the automotive and industrial spray painting markets. Even though NITROHEATs initial focus is in the spray painting of vehicle and industrial applications, there are a variety of other uses for this system in the following areas: Food production and packaging, shielding gases in the industrial and aeronautical sector, fire retardants, wine production and bottling, shielding gas and aluminum extrusion.
In the painting segment, the benefits derived from the utilization of the NITROHEAT™ system are: improved paint transfer efficiency, faster drying / curing time and a higher finish quality.
In the industrial sectors, the Nitrogen generators are used as an alternative to compressed “bottled / tanked” nitrogen. The NITROHEAT™ Nitrogen generators are able to produce “NITROGEN ON DEMAND
The NITROHEAT™ compressed gas heaters are also used in a variety of industries requiring hot air NITROHEATs unique thermal process controllers are able to precisely supply compressed air or nitrogen at very specific temperatures.
All manufacturing and assembly is conducted out of our Gardena facility in California.
Formed in 1928 as Ontario Research Foundation (ORF), Process Research PRO was privatized in 1999, and now in its 14th year of operation. PRO is committed to Sustainable Development through innovation for energy and process industries.
PRO has a world class service facility with its laboratory and pilot plant offers services on technology development, technology transfer, pre-commercialization trials, engineering assistance, market evaluation and development, sustainable development and process mineralogy.
Recognizing the need for sustainable development for these industries PRO has expanded to offer its clients process technologies for economic advantage, environmental stewardship and societal care.
About Jourdan Resources
Jourdan Resources Inc. is a Canadian junior mining exploration company focused on phosphate. We continually strive to maximize shareholder value by targeting the highest quality phosphate projects with a professional and highly experienced management team. Our approach combines creativity, experience, and technical expertise with tenacity and determination to advance existing projects while always being prepared to take advantage of new opportunities that can add value for our shareholders. We are committed to conducting ourselves in an open, professional, and responsible manner, while always remaining available to all shareholders. Our goal is to become the dominant phosphate miner in North America.
Jourdan Resources Inc. is a Canadian junior mining exploration company trading under the symbol JOR on the TSX Venture Exchange. The Company is focused on the acquisition, exploration, production, and development of mining properties in phosphates.
Please visit the Company’s website at www.jourdan.ca
For further information please contact:
Michael Dehn Glen Wylie, CMA
President and CEO, Jourdan Resources Inc. CFO, Jourdan Resources Inc.
Tel: (647) 477-2382 Tel: (647) 477-3758
Fax: (647) 477-2389 Fax: (647) 477-2389
VP, Director, Autris
Tel: (310) 698 9693
Fax: (866) 437 1405
Neither the SEC or the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release, including any information as to our strategy, projects, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance, may constitute forward-looking information (collectively "forward-looking information") within the meaning of Canadian securities laws. Forward-looking information may be identified by terminology such as "may", "will", "could", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "projects", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts and include, but are not limited to, resource estimates, capital and operating expenditures, economic conditions, availability of sufficient financing, receipt of approvals, satisfaction of closing conditions and any and all other timing, development, operational, financial, economic, legal, regulatory and/or political factors that may influence future events or conditions. Such forward-looking statements are based on a number of material factors and assumptions, including, but not limited to, access to capital markets and other sources of financing and associated cost of funds, final receipt of any required approvals, sufficient working capital for development and operations, access to adequate services and supplies, availability of markets for products, commodity prices, foreign currency exchange rates, interest rates, availability of a qualified work force, availability of manufacturing equipment, no material changes to the tax and regulatory regime, the ultimate ability to execute business plans on economically favourable terms and those material factors and assumptions disclosed in other public filings of Jourdan Resources.
While we consider these assumptions to be reasonable based on information currently available to us, they may prove to be incorrect. Actual results may vary from such forward-looking information for a variety of reasons, including but not limited to, risks and uncertainties disclosed in other public Jourdan Resources filings, changes in general economic, market and business conditions, competition for, among other things, capital and skilled personnel, and other unforeseen events or circumstances, that may cause the actual financial results, performance or achievements of the Company to be materially different from estimated future results, performance or achievements expressed or implied by the forward-looking statements. Copies of the Company's public filings under applicable Canadian securities laws are available at www.sedar.com. The Company further cautions that information contained on, or accessible through, this website is current only as of the date of filing such information and may be superseded by subsequent events or filings. Other than as required by law, Jourdan Resources does not intend, and undertakes no obligation, to update any forward looking information to reflect, among other things, new information or future events.
To view this press release as a PDF file, click onto the following link:
Source: Jourdan Resources Inc. (TSX Venture:JOR) www.jourdan.ca/
Maximum News Dissemination by FSCwire. www.fscwire.com
Copyright © 2014 Filing Services Canada Inc.