Agreement to support production of sustainable plant nutrition solutions under the Crystal Green brand.
VANCOUVER, BC; RIVERVIEW, FL; and AMSTERDAM, NL, Oct. 02, 2019 (GLOBE NEWSWIRE) -- Ostara Nutrient Recovery Technologies Inc. ("Ostara" or the "Company") announced today that it has entered into a long-term granulation tolling agreement (the "Agreement") to support production scale-up of its Crystal Green brand of sustainable phosphorus-based fertilizer products in response to existing early-season orders and increasing global demand. The Agreement secures production capacity at a commercial tolling facility (the "Facility") in the Southeast United States, with first production expected to commence on or about October 15, 2019, utilizing proprietary processes. Activities to increase and optimize existing production capacity at the Facility have been initiated, and scaled-up production is expected to commence immediately upon completion of necessary equipment upgrades and receipt of final pending regulatory approvals.
"Over the past 12 months we have experienced significant uptick in market interest for Crystal Green and Crystal Green Synchro (our co-granulated Crystal Green/ MAP product)", said Dan Parmar, President and Chief Executive Officer of Ostara. "This new production will help meet the volumes demanded by Ostara's ever-expanding customer base that includes North America's largest and most well-established Ag retailers and farmers who demand our Crystal Green products for their proven ability to significantly increase crop yields and substantially reduce nutrient run-off."
Said Ryan DeBerry, Chief Operating Officer of Ostara: "Market demand for our products significantly exceeds our existing production capabilities, and this partnership allows us to put some recently-acquired patented production technologies to work at an established facility with significant storage capacity, rail and truck access and other accretive infrastructures. While this Agreement effectively triples our existing production volumes and will play a significant role in helping the Company meet its consumer demands for 2020 springtime application, we continue to seek new sources of production to align with the Company's directional growth and intend to add significant further capacity in the near term."
About Ostara Nutrient Recovery Technologies Inc.
Ostara reimagines resources, helping communities around the world clean water to grow more food. The Company's Pearl technology recovers phosphorus and nitrogen from industrial, agricultural, and municipal water streams, and transforms these nutrients into its premium, sustainable Crystal Green fertilizers which are sold into the agriculture and turf sectors through a network of established distributors in North America and Europe. Crystal Green is the first slow-release phosphorus fertilizer to release nutrients in response to plant demand; these Root-Activated granules are proven to increase yields, enhance soil health and significantly reduce phosphorus tie-up and runoff, thereby improving food security while protecting local waterways from nutrient pollution. To learn more about how Ostara is closing the loop on phosphorus, visit ostara.com| crystalgreen.com.
Media Contact: Ostara Nutrient Recovery Technologies Inc. | Patricia Benton Epbenton@ostara.com
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