Odyssey Marine Exploration and Capital Latinoamericano (CapLat) have announced a joint venture aimed at developing a fertilizer project based on a phosphate resource identified within Mexico’s Exclusive Economic Zone (EEZ).
The venture intends to establish a private-public partnership with the Mexican government to promote sustainable agriculture, with an emphasis on benefiting small-scale farmers and enhancing food security. The initiative aligns with Mexico’s goals for food and agricultural self-sufficiency.
Juan Cortina, principal of CapLat, stated that the project could significantly reduce costs for farmers by improving access to affordable fertilizers while also contributing to rural development. He expressed optimism about collaborating with industry and government to advance this initiative.
Mark Gordon, CEO and Chairman of Odyssey, emphasized the venture’s potential for the company’s growth, highlighting the rising demand for sustainable fertilizers as a driving force behind the partnership. He noted the commitment to responsible resource development and its benefits for economic growth and agricultural advancement.
The joint venture combines Odyssey’s expertise in subsea resource exploration with CapLat’s experience in Mexico’s agricultural sector. The project will utilize advanced technology and sustainable dredging techniques that have been applied successfully in over 200 similar endeavors in Mexican waters.
