St. Louis, MO, Oct. 28, 2022 (GLOBE NEWSWIRE) -- Ostara™ today announced it has raised US$70 million in Series C funding to increase production of its Crystal Green® line of highly efficient, plant-available, granular phosphate fertilizers for agriculture, specialty, and turf markets. Ostara will use the funding to complete construction of its St. Louis manufacturing facility, which will produce and ship this unique fertilizer to more North American farmers who are looking to maximize yield, embrace sustainability, reduce applied phosphate rates per acre and decrease costs. The Series C funding includes multiple new investors, including Carica Sustainable Investments, as well as existing investors Forage Capital Partners, the Cibus Funds, and Grosvenor Food and AgTech.
The announcement comes at a time when farmers, consumers, Ag retailers, and regulators are searching with growing urgency for solutions that drive yield and improve farm economics, while protecting global natural resources and increasing the resiliency of North America’s fertilizer supply chain.
“Growers are looking for more tools that increase the efficiency of applied nutrients, and reduce their required application rates, operational hassles, and environmental impacts. As a result, more and more growers and retailers are turning to Crystal Green’s innovative, highly efficient, phosphate fertilizers,” said Kerry Cebul, chief executive officer of Ostara. “Ostara is excited to rapidly increase our North American manufacturing base, enabling us to serve more U.S. and Canadian farmers.”
Ostara’s soon to be commissioned Crystal Green® manufacturing plant is strategically located in St. Louis, in the heart of midwestern agriculture. Once complete, the facility will produce 200,000 tons per year, providing product in time for the 2024 growing season, as well as dozens of new jobs to the St. Louis region. The facility represents a major step forward in the production of the next generation of highly efficient, plant-available, sustainable phosphate products.
“Phosphates are critical to the production of all crops, yet we know traditional fertilizers are inefficient, increasing their impact on climate and water. Ostara’s proven, innovative technology brings new, efficient phosphate tools to the farm-gate, which enable growers to produce great crops and protect our waterways by limiting runoff,” said Ham James, managing partner at Carica Sustainable Investments, a new investor in Ostara.
“The world’s agriculture market is facing unprecedented times,” said Jim Taylor, managing partner at Forage Capital. “From shortages in food production, to rising energy prices and significant declines in fertilizer availability, there has never been a greater need for ultra-efficient, sustainable fertilizers like Ostara’s. The Company not only has the ability to continue to scale world-class manufacturing capacity that can help farmers produce crops, reduce phosphates in waterways, and reduce greenhouse gasses, but it can also do so at a pace and size that will help address the challenges facing global fertilizer supply.”
About Ostara
Ostara’s Crystal Green® fertilizers are the first highly efficient phosphate fertilizers to release nutrients in response to plant demand. Crystal Green fertilizers are proven to increase yields, enhance soil health and significantly reduce phosphate tie-up, runoff and leaching, thereby improving food security while protecting local waterways. Crystal Green® fertilizers play a key role in the agriculture and turf & ornamental sectors through a network of established retailers and distributors in North America and Europe. To learn more about Ostara’s revolutionary technologies and fertilizer portfolio, please visit ostara.com and follow us on Facebook, Twitter and LinkedIn.
About Carica Sustainable Investments
Carica is a family office investment fund that invests in businesses that drive positive environmental and economic outcomes. We provide growth capital to help scale sustainable companies with proven business models. We realize this vision by partnering with entrepreneurs, business leaders, and companies addressing climate challenges by improving the way the world does business.
About Forage Capital Partners
Forage Capital Partners is Canada’s most experienced team of Ag & Food investors, having managed over $500 million in commitments to the industry over the last 18 years. Forage Capital Ag & Food Business Solutions Fund works to provide its portfolio companies with the stability and flexibility they need to expand and adapt their business models during these challenging times. The fund will invest with creative business owners that are looking to capitalize on new and innovative opportunities that will emerge as the Canadian economy recovers and prospers. For more information on Forage Capital Partners, visit www.foragecapitalpartners.com.
