Name: Ostara Nutrient Recovery Technologies
Location: Vancouver, British Columbia
Industry: Clean Technology
Years in Business: 8
Main Product/Service: Water treatment systems
Key Foreign Markets: U.S., as well as global
EDC Services Used: Export Guarantee Program, Bonding
Many wastewater treatment facilities concentrate large quantities of nitrogen and phosphorus in their sludge dewatering streams. Ostara Nutrient Recovery Technologies recovers these nutrients and transforms them into a revenue-generating, environmentally responsible commercial fertilizer. Ostara recently won its largest contract yet to design, procure and construct a facility in Oregon, and projects of this scale often require a performance or security bond.
How EDC Helped
“We turned to EDC to provide us with project bonding, so they’ve been an instrumental piece of our early commercial development,” says Ostara President and CEO, Phillip Abrary. The company also needed a banking partner to take on some risk as part of EDC’s Export Guarantee Program and, given that EDC would guarantee 50 per cent of the loan, its bank was comfortable with the level of risk.
Ostara believes that EDC was instrumental in fostering its early commercial development. “We plan to work closely with EDC as we expand and grow our business in all these other markets outside of Canada,” Abrary says.