Bartow, FL. October 29, 2021. Mineral Development, LLC (“MDL”) is pleased to announce the closing of its $118.5mm financing that will fund the construction of its first plant and provide the working capital necessary for the startup of its operations. The financing was raised via a $90mm tax-exempt bond issued through the Polk County Industrial Development Authority and $28.5mm of new equity. The tax-free bonds were purchased by large institutional investors. In connection with the bond funding, the company also raised $28.5mm of equity from an infrastructure investment fund based in Vancouver, Canada. “Our equity partners are aligned with our vision and growth opportunities and bring a wealth of experience in the construction phase of our development,” said company CEO, Lance McNeill.
