Ostara Nutrient Recovery Technologies Receives $10.5 Million in Financing
Ostara Nutrient Recovery Technologies, a Vancouver, British Columbia-based company that is commercializing technologies that recover resources from wastewater and recycle them into useful products, recently announced it completed a $10.5 million private equity financing.
The financing was led by VantagePoint Venture Partners and included participation from Foursome Investments Limited. In addition, Rafael Simon, Venture Partner at VantagePoint, has joined Ostara’s Board of Directors.
Ostara was founded in 2005 and its core technology solution, which was developed at the University of British Columbia, removes phosphorus and other pollutants from wastewater and recycles them into environmentally safe commercial fertilizer that the company markets under the name Crystal Green. Ostara’s first commercial-scale plant began operating in Edmonton, Alberta in 2007 and the company’s first commercial-scale plant in the U.S. will begin operating in the spring of 2009 at the Durham Advanced Wastewater Treatment Facility. Ostara will use its new financing to speed the commercialization of its technology to municipalities, ethanol biofuel plants, and food processing plants in the U.S. and Canada at which successful field trials have been completed.
Read the full article at www.greenvc.org