VANCOUVER, Nov. 15, 2012 /PRNewswire/ - Ostara Nutrient Recovery Technologies Inc. announced today the appointment of Fredric "Fritz" Corrigan as Director and Board Chair of the Company.
"We are extremely pleased to welcome Mr. Corrigan to the Ostara board " said Ostara co-founder and CEO, Phillip Abrary. "His global industry experience and impressive track record bring valuable strategic insight that will position Ostara as the global leader in economically preserving water resources and help us build a world-class enhanced efficiency nutrients business."
A respected fertilizer industry veteran, Mr. Corrigan spent the majority of his career at Cargill Inc., where he rose from trainee to Executive Vice President, overseeing the global fertilizer and salt businesses along with more than a dozen other business units and projects. In 2004, he led the merger of IMC Global and Cargill's Crop Nutrition Business that resulted in the creation of The Mosaic Company (NYSE: MOS), the world's leading producer of concentrated phosphate and potash crop nutrients. Mr. Corrigan served as the company's Founding President and Chief Executive officer until his retirement in 2007. Currently, he serves on the boards of several companies and actively coaches and mentors CEOs.
"I am impressed by Ostara's innovative technology and the significant value it brings to water treatment and resource recovery," said Mr. Corrigan. "I also enjoy working with entrepreneurs and look forward to being part of the company's growth and expansion over the coming years."
A leader in nutrient recovery, Ostara's technology has been installed at five facilities in North America, including a demonstration plant to treat industrial process water. The company will add three more facilities by mid-2013, including its first European plant, in the UK.
Nutrients recovered through the Company's proprietary technology are transformed into a slow-release, environmentally responsible fertilizer marketed under the brand Crystal Green®. Used in blends by growers throughout North America, Crystal Green's slow-release formulation provides a season-long supply of nutrients to plants and significantly reduces the risk of leaching and runoff into adjacent waterways.
About Ostara Nutrient Recovery Technologies Inc.: Ostara designs, builds and markets a proprietary nutrient recovery technology that recovers phosphorus and nitrogen from nutrient rich water streams in municipal and industrial water treatment facilities. The nutrients are transformed into a high-value, eco-friendly fertilizer, sold and marketed by Ostara as Crystal Green®. Ostara's nutrient recovery technology was invented at the University of British Columbia and commercialized in 2005, when the company was founded. The company has five commercial nutrient recovery facilities throughout the U.S., including a demonstration facility to treat industrial process water. Three additional nutrient recovery facilities will be added in the coming months including the H.M. Weir Wastewater Treatment Plant in Saskatoon, Canada; Thames Water's Slough Sewage Works in the UK; and the Madison Metropolitan Sewerage District in Madison, WI. Backed by VantagePoint Capital Partners in the US, and Frog Capital in the UK, Ostara is the recipient of numerous awards including being named a 2011 Technology Pioneer by the World Economic Forum, and being named to the Global Cleantech 100 for the past four years. The company is based in Vancouver, Canada, and has offices in the US and Europe. For more information: visit www.ostara.com.
SOURCE Ostara Nutrient Recovery Technologies