Ostara Raises US$20 Million to Acquire Strategic Assets to Scale Up Crystal Green® Fertilizer Production
VANCOUVER, BC, and RIVERVIEW, FL, April 19, 2021 (GLOBE NEWSWIRE) — Ostara Nutrient Recovery Technologies Inc. (“Ostara”) announced today the closing of a financing for proceeds of US$20M (the “Financing”). The Financing was led by Forage Capital, with additional participation from Export Development Canada (EDC), ADM Capital’s advised Cibus Enterprise Fund and Wheatsheaf Group. Proceeds of the Financing will be used to acquire and upgrade a strategically located fertilizer production facility in Missouri that significantly scales up Ostara’s capacity for the production of its Crystal Green fertilizers.
“Ostara is at the center of a movement in agriculture where end-users are demanding crop nutrition solutions that are superior from both an agronomic and environmental perspective. Our corporate philosophy is based on these fundamentals, and we are very pleased to be aligned with leading global investors in agriculture who support our strategy,” said Dan Parmar, President and CEO of Ostara.
“Forage is excited to support a Canadian Ag-Tech leader in the sustainable fertilizer business. Ostara’s global supply chain along with its world class IP portfolio will allow it to build a truly unique product portfolio that enables farmers to reduce the environmental impact of their operations,” said Jim Taylor, President of Forage Capital.
About Ostara: Ostara’s Crystal Green® fertilizers are the first slow-release phosphorus fertilizers to release nutrients in response to plant demand; these Root-Activated™ granules are proven to increase yields, enhance soil health and significantly reduce phosphorus tie-up and runoff, thereby improving food security while protecting local waterways from nutrient pollution. In addition, the Company’s Pearl® technology recovers phosphorus and nitrogen from industrial, agricultural, and municipal water streams, and transforms these nutrients into its premium, sustainable Crystal Green® fertilizers which are sold into the agriculture and turf sectors through a network of established distributors in North America and Europe. To learn more about Ostara’s revolutionary technologies, please visit ostara.com | crystalgreen.com.
Ostara Nutrient Recovery Technologies Inc. | Koert VandenEnden | [email protected]