Ostara Nutrient Recovery Technologies Inc., a Vancouver-based clean water company, has been awarded $13 million in financing, according to a company press release. The company, which recovers phosphorous and nitrogen from wastewater streams for transformation into fertilizer, received the financing from a group of investors led by Wheatsheaf Investments.
“Essential to our mandate is to seek out and enable innovative technologies that meet the demands for resource efficiency,” said Wheatsheaf’s CEO Graham Ramsbottom. “Ostara embodies this spirit in actual practice.” Wheatsheaf prefers to invest in companies that contribute to solutions for growing global problems like food, water, and energy shortages.
The funds will contribute to expansion into industrial applications for Ostara’s technology, as well as the continued development and growth of its Crystal Green fertilizer, which is used by growers in North America and Europe.
Other investors for this round of funding included board chairman Frederic Corrigan, VantagePoint Capital Partners, and Frog Capital.