Renewable energy firm Ostara has raised USD14.5m in private equity in a round led by VantagePoint Capital Partners as well as existing backer Frog Capital and new investors Waste Resources Fund. The firm extracts phosphorous and nitrogen from industry and municipal wastewater for use in fertilisers.

Ostara claims that it can recover as much as 90% of the ammonia in municipal waste water, which it uses to produce its Crystal Green fertiliser product. The firm has partnerships with waste water facilities in the US, and a further three still under construction in Saskatoon and for Thames Water in London. CEO Philip Abrary says the firm is now looking to expand further in to industrial markets.