Ostara Nutrient Recovery Technologies Inc. has closed a bridge financing.
Ostara Nutrient Recovery Technologies raised US $[mepr-active rule=”374″ ifallowed=”hide”]★Subscriber ONLY content: read our research and get insight on this and other deals. We offer monthly or yearly recurring or one-time trial subscriptions. Subscribe today and see what you have been missing! ★[/mepr-active][mepr-active rule=”374″]3.25 million or CDN $4.122 million in convertible subordinated promissory notes from Wheatsheaf Investments (UK), VantagePoint Capital Partners (US), and two US investors. The notes are convertible into Series 4 preferred shares. Fasken Martineau DuMoulin LLP acts as Ostara’s legal counsel. Ostara has raised CDN $20.45 million since 2015 from investors that also include UK’s Frog Capital.[/mepr-active]
Vancouver based Ostara Nutrient Recovery Technologies helps protect precious water resources by changing the way cities around the world manage excess nutrients both in wastewater streams and due to fertilizer runoff. The company’s Pearl® and WASSTRIP® technology recovers phosphorus and nitrogen at municipal and industrial wastewater treatment plants and transforms them into a high-value, eco-friendly fertilizer, Crystal Green®.
Crystal Green is the first continuous release granular fertilizer to provide Root-Activated™ phosphorus, nitrogen and magnesium (5-28-0 with 10%Mg), and is marketed globally to professionals in the agriculture, turf and horticulture sectors.
Ostara Nutrient Recovery Technologies operates multiple facilities throughout North America and Europe and opened the world’s largest nutrient recovery facility in partnership with the Metropolitan Water Reclamation District (MWRD) of Greater Chicago in Spring 2016.
photo credit: Ostara Nutrient Recovery Technologies