diverse project portfolio
PHOSAGMEX
Ownership: The joint venture is owned 50/50 by CapLat and Oceanica Mexico. Odyssey holds a 70% stake in Oceanica Mexico, giving it an effective 35% ownership interest in the JV.
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Resource: Phosphate (for agricultural fertilizer)
Location: Mexico EEZ
RELATED PRESS RELEASES
June 11, 2025
Odyssey Marine Exploration Advances Mexico Fertilizer Project With JV Formation
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December 26, 2024
Odyssey Marine Exploration Forms Joint Venture to Advance Strategic Fertilizer Project
​PHOSAGMEX is a joint venture created to establish a sustainable domestic phosphate supply for North America.
The partnership combines Odyssey’s subsea resource exploration expertise with CapLat's leadership in Mexico’s agricultural sector, where its principal Mr. Juan Cortina Gallardo has championed innovation, food security, and sustainability.
The project will employ advanced technology and proven sustainable dredging techniques, which have been successfully used in over 200 similar projects in Mexican waters by a local operating partner.
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Building on extensive research and validation of a high-quality phosphate resource, the JV seeks to establish a public-private partnership with the Mexican government—promoting shared prosperity through sustainable agriculture that empowers farmers and strengthens local communities.
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The potential project seeks to contribute to the food and nutrition security efforts currently pursued by Mexico as part of a broader food and agriculture self-sufficiency program.