Fodere Announces $5 Million Founders Round to Fund Mississippi Prototype Plant
Fodere Critical Minerals Limited announced the launch of a private convertible note offering for up to US$5 million, targeting accredited investors. The funds will be used by its U.S.-based subsidiary, Fodere Inc., to advance environmental and engineering work for a proposed prototype plant in Prairie, Mississippi. This includes site diligence, permitting efforts, and adapting designs to meet U.S. standards. The offering is part of broader developments at the company, including recent leadership changes with Jeffry N. Quinn appointed as CEO and an application submitted under a federal Defense Industrial Base Consortium solicitation for additional funding support. Fodere has previously raised around US$11 million in private capital to date and plans further financing in 2027 if market conditions allow. Fodere's proprietary technology is designed to recover critical minerals from industrial waste, using low-temperature thermal treatment combined with hydrometallurgical recovery. The company aims for the Mississippi project to serve as a model for future global deployments of its mineral processing platform.
Topics: Convertible Notes Environmental Permits Private Offering Project Funding