Key Highlights

  • The US Government awarded a US$1.5 million grant to consultants CrossBoundary Group.
  • The grant is intended to help secure investment, commercial partnerships and engineering expertise for the Gasaat project.
  • The process aims to attract investment of up to US$100 million into the project.
  • PhosCo is not a recipient of the grant, which was awarded to CrossBoundary.

PhosCo Ltd (ASX:PHO) announced on 30 October 2026 that the United States Government has awarded a grant of US$1.5 million to CrossBoundary Group. The grant is intended to support the company's Gasaat phosphate project in Tunisia. The company said the funding highlights the strategic importance of phosphate to food security.

The Grant and Its Purpose

The grant was made by the United States Department of State to CrossBoundary, which will use it to assist PhosCo with its work on the Gasaat project. The support covers securing United States investment, establishing commercial partnerships and bringing in technical expertise.

The announcement clarifies that PhosCo is not the grant recipient. The arrangement is therefore an advisory engagement in which the consultant carries out work for the company's benefit.

CrossBoundary's Background

CrossBoundary is described as a global investment and advisory group that has advised on more than US$12 billion of transactions since 2011. The group operates in 41 countries across six continents.

The release notes that CrossBoundary has a track record with the United States International Development Finance Corporation, including work supporting the origination and due diligence of projects.

Investment Target and Project Context

The process is aimed at attracting investment of up to US$100 million into the Gasaat project. The company presents this as the scale of the funding it hopes to secure through the advisory work.

The release does not state a timetable for the investment process or any agreement with a specific investor, so the target remains an aim rather than a committed amount.

Final Word

PhosCo's announcement centres on a US$1.5 million advisory grant that supports the search for up to US$100 million of investment in the Gasaat phosphate project. The grant is awarded to the consultant rather than the company, and the investment target has not yet been matched by committed funding. Further announcements will show whether the process leads to specific investors or partnerships.