Ostara has raised USD$70 million in Series C funding to increase production of its Crystal Green line of 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 fertilizer to more North American farmers. Once complete, Ostara’s Crystal Green manufacturing plant will produce 200,000 tons per year, providing product in time for the 2024 growing season.
Crystal Green is produced using nutrient recovery technology that combines phosphorus, nitrogen and magnesium into pure crystalline granules. It is virtually water insoluble and releases only in response to organic acids produced by growing roots. As the roots produce citrates, Crystal Green responds with a release of phosphorus, fertilizing plants on demand. As plant demand decreases, nutrient release from Crystal Green is reduced consequently providing a more consistent feeding of nutrients compared to conventional phosphorus fertilizers.
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.
Find out more about CRFs in New AG International’s latest e-book on Slow- Controlled-Release and Stabilized Fertilizers, here.