Industrial decarbonization-focused private equity firm backs manufacturer of high-purity alumina
TORONTO and HOUSTON, Jan. 7, 2021 /PRNewswire/ — Ara Partners, a private equity firm that specializes in industrial decarbonization investments, today announced that it has closed a controlling investment in Polar Sapphire (“Polar Sapphire” or the “Company”). 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 (“alumina” or “HPA”), which is a key input for lithium-ion batteries and sapphire applications. The Company’s innovative production process focuses on top-quality 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.
Together, Ara Partners and the Polar Sapphire management team will accelerate the Company’s expansion plans to meet end customer markets that are growing rapidly. Polar Sapphire is best positioned to capitalize on this opportunity using its proprietary manufacturing process to deliver an extremely high-quality product 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’ wealth of 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.
About Polar Sapphire
Polar Sapphire has developed a breakthrough process for manufacturing the world’s highest-purity and lowest-cost High Purity Alumina (HPA). HPA is a critical input for green technologies such as LEDs, lithium-ion battery separators used in electric vehicles, semiconductors, plasma displays, lasers and many others. Polar Sapphire has a low-emission process compared with the incumbent process, which is highly toxic to local environments. The Company currently operates a commercial facility in Toronto, Canada. For more information on Polar Sapphire, visit www.polarsapphire.com.
About Ara Partners
Ara Partners is a private equity firm specializing in industrial decarbonization investments. Ara Partners invests in the industrial & manufacturing, chemicals & materials, energy efficiency & green fuels and food & agriculture sectors, seeking to build businesses that are focused on sustainability and ESG principles. For more information on Ara Partners, please visit www.arapartners.com.
SOURCE Ara Partners