PITTSBURGH, Nov 19, 2020 — Thar Process, Inc, a U.S. based leader in the extraction and purification processing and equipment industry, focused on the natural wellness / pharmaceutical industry, announces that it has won the Pittsburgh Business Times Fastest Growing Company in its category and overall. This comes on the heels of Thar having entered into a senior secured revolving credit facility with a “Top 50 global bank” in September.
Thar won for fastest growth of any company with 400% growth from 2017-2019. The Pittsburgh / Western PA region is home to many young tech companies in healthcare, software and robotics and has a population of ~ 4 million.
The funding includes a $12 million senior secured revolving credit facility which will provide Thar with the ability to expand its equipment technology offerings into new geographies such as Europe and Latin America while expanding its extraction / purification service offerings in the USA.
“This senior secured credit facility with this Top 50 international bank – only the demonstrates the leadership position that Thar has taken in the natural products and CBD processing and equipment technology market. I could not be prouder of the entire team for their continued hard work that led us to this very significant moment,” exclaimed Dr. Lalit Chordia, CEO and Founder. Added CFO Greg Imberlina, “With this new credit facility in place, we can accelerate the launch of the Isolator SFC™ industrial-scale chromatography systems. It further enables us to take the Company through its next stage of growth and into pharmaceutical development services while pursuing our existing strategic objectives. The credit facility provides the Company with greatly enhanced financial flexibility and further strengthens our financial position to ensure our ability to continue to execute on our growth strategy beyond 2020 and the COVID-19 crisis.”