Ostara raises $13M for biobased fertilizers made from waste streams
In Canada, Ostara Nutrient Recovery Technologies Inc., a clean water company that recovers phosphorus and nitrogen from waste and process water streams and transforms them into a premium, slow-release fertilizer, announced that it has secured $13 million (USD) in equity financing.
Led by Wheatsheaf Investments, part of the Grosvenor Estate, this round of funding also included Ostara Board Chairman Fredric “Fritz” Corrigan and existing investors, VantagePoint Capital Partners and Frog Capital. Ostara will use the funds to support expansion into industrial applications for its technology while continuing to grow and support ongoing development of applications and markets for its Crystal Green fertilizer.
With five municipal facilities in operation throughout North America and two more set to come online, Ostara plans to focus on commercializing its first industrial project, having successfully launched a demonstration facility in 2012.
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