Ara Partners invests in Polar Sapphire
by CM Staff
Industrial decarbonization-focused private equity firm backs manufacturer of high-purity alumina
TORONTO and HOUSTON — Ara Partners, a private equity firm that specializes in industrial decarbonization investments, announced on Jan. 7 that it has closed a controlling investment in Polar Sapphire. The investment will provide Polar Sapphire with immediate and future funding for its growth.
Founded in Toronto in 2012, Polar Sapphire is a manufacturer of high-purity aluminum oxide, which is a key input for lithium-ion batteries and sapphire applications. The Company’s production process focuses on products at high yields, enabling customers to achieve greater value and lower total cost of ownership. Polar Sapphire is led by Founder and Chief Executive Officer, Scott Nichol.
Polar Sapphire is positioned to use its proprietary manufacturing process to deliver products with the help of Ara Partners’ funding, and with significant carbon savings in manufacturing.
The investment in Polar Sapphire will facilitate construction of the Company’s first large-scale commercial factory, with 1,000 tonnes per annum (tpa) capacity. Polar Sapphire looks to leverage Ara Partners’ experience in scaling manufacturing operations and building sustainable businesses.
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.
