Ara Partners Invests In Polar Sapphire
Industrial decarbonization specialist Ara Partners has closed a controlling investment in Polar Sapphire, a manufacturer of high-purity aluminium oxide (“alumina” or “HPA”), which is a key input for lithium-ion batteries and sapphire applications. The investment in Polar Sapphire will facilitate construction of the Company’s first large-scale commercial factory, with 1,000 tonnes per annum capacity.
Polar Sapphire previously received investment and financial contributions from Bioindustrial Innovation Canada, MaRS IAF, ArcTern Ventures, and other cleantech focused private investors. In 2014, Polar Sapphire received a FedDev Ontario repayable contribution of $990,000 to expand its pilot production line in the Mississauga facility.
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