[NEWS] Trash-to-Biofuel Facility Set to Open in Maine
– by Alex Acquisto, January 5, 2018, Bangor Daily News
The company behind a state-of-the-art solid waste disposal facility in Hampden designed to convert trash into biofuel has secured enough funding to begin operations in May.
Craig Stuart-Paul, CEO of Maryland-based Fiberight LLC, announced this week that his company has secured $70 million for a municipal solid waste center off Coldbrook Road — $45 million through a tax-exempt bond with the Finance Authority of Maine and the remainder in private equity funds.
“A lot of people questioned whether or not we would be able to get the financing,” he said. “In our mind, we always knew we could. This was the final hurdle.”
Construction of the 144,000-square-foot steel frame that began in July, is complete, and all of the equipment needed to process 180,000 tons of waste each year has been ordered, Stuart-Paul said.