VANCOUVER, BC, RIVERVIEW, FL and LITTLE ROCK, AR, July 16, 2021 (GLOBE NEWSWIRE) -- Ostara Nutrient Recovery Technologies Inc. ("Ostara") and Bruce Oakley, Inc. ("Oakley") announced today the completion of the previously announced purchase (the "Acquisition") by Ostara of Oakley's fertilizer granulation facility and certain related assets (the "Facility") located on the Mississippi River at Oakley's St. Louis, Missouri warehousing and logistics terminal (the "Terminal"). The Acquisition and recently announced financing completed by Ostara further accelerates the scale up Ostara's production capacity of its Crystal Green brand of sustainable, phosphorus-based, slow-release fertilizer products.
Oakley will also provide long-term, full-service Terminal support for Ostara, including bulk storage, inbound and outbound logistics services via truck, rail and barge, and raw materials supply.
Ostara has completed the design and engineering work to upgrade the Facility and has selected a general contractor, allowing for construction activities to be initiated immediately. Ostara anticipates production to commence approximately 12 months after the closing of the Acquisition. Once fully optimized, Ostara expects that output from the Facility will increase Ostara's current aggregate production capacity by a multiple of approximately 10x.
"This acquisition is a major step in our plan to scale up the production of Crystal Green, allowing us to respond to growing demand with significant new capacity in a central location to our North American customer base," said Dan Parmar, Ostara's President and CEO. "We are also extremely pleased to partner with Bruce Oakley, Inc., an industry-leading logistics operator with world-class infrastructure, services and logistics to support us during this period of rapid growth for Ostara."
"Oakley is excited to support Ostara, and Dan and his team have been a pleasure to work with. We are pleased to see the granulation plant repurposed ?to produce an environmentally friendly and agronomically beneficial fertilizer. Crystal Green is a fantastic ?slow-release ?phosphate product and we're proud to play a?n important role in helping Ostara accelerate the growth of Crystal Green in the North American market," said Justin Oakley, Vice President of Oakley.
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About Ostara:Ostara's Crystal Green and Crystal Green Pearl fertilizers are the first granular slow-release phosphorus fertilizers to release nutrients in response to plant demand; these Root-Activated granules are proven to increase yield, enhance soil health and significantly reduce phosphorus tie-up and runoff, thereby improving food security while protecting local waterways from nutrient pollution. In addition to our Crystal Green fertilizer the Company's Pearl water treatment technology recovers phosphorus and nitrogen from industrial, agricultural, and municipal water streams, and transforms these nutrients into its premium, sustainable Crystal Green Pearl fertilizer which is sold into the agriculture and turf sectors through a network of established distributors in North America and Europe. To learn more about Ostara's revolutionary technologies, please visit ostara.com| crystalgreen.com.
About Oakley:
Bruce Oakley, Inc. led by Dennis and Justin Oakley, was founded by Bruce Oakley in 1968 in El Paso, Ark. and has grown into a diverse bulk commodity transportation and distribution company serving customers throughout North America. www.bruceoakley.com
Media Contacts:
Ostara Nutrient Recovery Technologies Inc. | Koert VandenEnden | kvandenenden@ostara.com
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