Approved Funding for Nutrient Management Company to Scale Sustainable Fertilizer Production

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Approved Funding for Nutrient Management Company to Scale Sustainable Fertilizer Production

Proceeds of the financing will be used to further accelerate near-term scaling of Ostara’s fertilizer production.

Ostara Nutrient Recovery Technologies Inc. announced the closing of a preferred equity financing for aggregate proceeds in excess of US$11M. The financing was co-led by Wheatsheaf Group Limited and VantagePoint Capital Partners, with follow-on participation by other existing Ostara investors. Proceeds of the financing will be used to further accelerate near-term scaling of Ostara’s fertilizer production and to support Ostara’s continued expansion within global nutrient recovery and fertilizer sales markets.

“The second half of 2018 was an exciting and productive period in the growth and evolution of our company and to have committed investors who share our vision for expansion is extremely satisfying,” said Dan Parmar, President and CEO of Ostara. “In the last few months, Ostara has signed two significant fertilizer distribution agreements: one for Western Canadian distribution with Taurus Agricultural Marketing Inc., and one for distribution in Western Europe with ICL Specialty Chemicals. Partnerships with respected and influential industry leaders like Taurus and ICL are creating significant uptake of our Crystal Green® fertilizer and have resulted in the immediate expansion of our global sales footprint. Funds from this Financing will further assist in the scaling of our global production and supply-chain footprint and allow us to continue to add talented individuals to our core team.”

“Investing in Ostara’s capacity to scale sustainable fertilizer production is a critical step forward in realizing lasting commercial and social benefits in the food and agricultural sectors. We look forward to continuing our work with Ostara in their mission to improve agronomics for growers around the world,” said Graham Ramsbottom, CEO of Wheatsheaf Group Limited, a UK-based organization that directly operates, invests in and helps to develop businesses in the food and agriculture sector to meet the growing demands of a changing global population.

“We focus on companies with unique break-through technologies that revolutionize industries”, said Tom Bevilacqua, Managing Director with Financing co-lead VantagePoint Capital Partners, a global venture investor, supporting companies from start-up to scale-up with a special focus on resource innovation and efficiency. “We strongly believe in the Ostara mission and are excited to be able to play a significant role in accelerating the growth of the company.”

Source: Ostara 

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