Ostara Nutrient Recovery Technologies Inc., developer and marketer of proprietary technologies that recover resources from wastewater and recycle them into valuable products, announced today the completion of a U.S. $10.5 million private equity financing. The financing was led by VantagePoint Venture Partners, a Silicon Valley green tech investor. Also participating was Foursome Investments Limited, a London-based venture investor that focuses on environmental and clean technology.

Ostara Nutrient Recovery Technologies Inc. was founded in 2005. The Company’s technology removes phosphorus and other pollutants from wastewater and recycles them into environmentally safe commercial fertilizer. The Company’s first commercial-scale plant began operation in Edmonton, Alberta in 2007. The Company’s first commercial-scale plant in the U.S. will begin operating in the spring of 2009 at the Durham Advanced Wastewater Treatment Facility in metropolitan Portland, Oregon.

Phillip Abrary, President and CEO of Ostara, said the financing will enable the Company to accelerate the commercialization of its technology to municipalities, ethanol biofuel plants and food processing plants in the U.S. and Canada at which successful field trials have already been completed. As many as 400 municipalities and industrial plants in North America and 500 in Europe are potential customers for the Ostara process.

“Over the past year, we have successfully demonstrated in a large commercial plant that our process handles sewage sludge liquids in a way that reduces operating costs, increases overall plant capacity, complies with environmental regulations and produces revenue from byproduct,” said Abrary.