JT Group investment in Energous Corporation (FOI)
JT Group investment in Energous Corporation (FOI)Produced by the Freedom of Information office
Authored by States of Jersey and published on 23 January 2017.
JT Group, which is wholly owned by the Jersey government, announced a transaction today whereby on December 29, 2016 it invested approximately $5 million (USD) in a U.S. based public company, Energous Corporation.
I request the details of this arrangement, including, where possible:
- internal JT documents discussing the transaction
- any presentations, transcripts, emails, or discussions on the matter
- any communication with the government on this contract
The States of Jersey does not hold the contract documentation detailing the transaction between JT Group and Energous Corporation.
Internal JT documents and other accompanying paperwork provided to the Assistant Minister for Treasury and Resources following a verbal briefing contain commercially confidential information and are therefore classified as qualified exempt under Article 33 of the Freedom of Information (Jersey) Law 2011.
In applying this exemption the Treasury and Resources Department has considered the public interest in disclosing the information held. However, it considers that this public interest is outweighed by the potential prejudice which could follow from publication in respect of both JT and the third party company involved in the transaction.
Article 33 of the Freedom of Information (Jersey) Law 2011 – Commercial interests
Information is qualified exempt information if –
(a) it constitutes a trade secret; or
(b) its disclosure would, or would be likely to, prejudice the commercial interests of a person (including the scheduled public authority holding the information).