Ostara Nutrient Recovery Technologies Inc., a clean water company that recovers phosphorus and nitrogen from industrial and municipal wastewaters to create fertilizers, announcedthe completion of $14.5 million private equity financing.
Led by VantagePoint Capital Partners, a global investor in energy innovation and efficiency, the financing also included existing Ostara investor, London-based Frog Capital and a group of new investors including Waste Resources Fund L.P., a fund managed by FourWinds Capital Management.
Ostara's Pearl technology recovers unwanted nutrients such as phosphorus and nitrogen from wastewater and transforms them into a slow-release fertilizer, marketed as Crystal Green. The Company currently has four commercial nutrient recovery facilities in operation in the United States and three additional facilities under construction, including its first Canadian facility in Saskatoon, SK and its first European facility, for Thames Water, in London.
According to Phillip Abrary, Ostara President & CEO, the company's focus will now be to expand the application of its proprietary nutrient recovery technology into industrial markets. "In addition to growing our worldwide municipal customer base," said Abrary, "these funds will be used to commercialize a significant industrial opportunity that we've been developing for the past 24 months."
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