Ostara Nutrient Recovery Technologies Inc., Vancouver, B.C., said on April 19 it has closed US$20 million in financing led by Forage Capital, Riverview, Fla., with additional participation from Export Development Canada (EDC). Ostara said the proceeds will be used to acquire and upgrade a strategically located granulation fertilizer production facility in St. Louis from Bruce Oakley Inc., Little Rock, Ark.
The deal was announced last November (GM Nov. 6, 2020). Ostara said the purchase will allow it to significantly scale up its 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,” said Dan Parmar, Ostara President and CEO. “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.”