JT Group investment in Energous Corporation (FOI)

​Request

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:

• the contract

• internal JT documents discussing the transaction

• any presentations, transcripts, emails, or discussions on the matter

• any communication with the government on this contract

Response

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.

Exemptions applied

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).