Here is a photo of Mount Katahdin in the background as two snowmobilers pass. It was a crystal clear day and very cold. Perfect for taking this great shot! Thanks to Rick LeVasseur from 5 Lakes Lodge for the great photo and Maine-Snowmobiling.com for showing it to the world! Oh, and thanks for letting us share it, too!
Investor working to complete financing for Millinocket pellet mill despite FAME shortfall
MILLINOCKET, Maine — The New Hampshire investment firm that could create a new market for the state’s forest products industries intends to proceed with its plans to build a $140 million pellet mill despite a recent $9 million reduction in a state bond, officials said Wednesday.
Thermogen Industries leaders are “disappointed” with a Finance Authority of Maine decision last week to reduce a $25 million bond to $16 million, but are working to close that gap with its investors, said Dammon Frecker, Thermogen’s project manager.
“While this setback is certainly unfortunate, our team’s passion and determination [are] inspiring and I have full confidence that we will prevail,” Frecker said in a statement released Wednesday. “We are working around the clock to restructure our financing plan and finalize a new path forward.”
“We are committed to developing this project and putting people back to work,” he added.
Cate Street Capital is a Portsmouth investment firm bankrolling Thermogen and Great Northern Paper Co. LLC, which owns a temporarily closed paper mill in East Millinocket and an industrial park in Millinocket where the pellet mill will be sited.
Great Northern Paper Company is a Maine-based pulp and paper manufacturer that at its peak in the 1970s and 1980s operated mills in Georgia, Maine, and Wisconsin and produced 16.4 percent of the newsprint made in the United States.
The company was acquired by Georgia-Pacific Corporation in 1990. Its name was revived in 2011 when private equity firm Cates Capital acquired Great Northern’s original Maine mills. Cate Capital now plans to replace the Millinocket mill with this pellet plant.
A new report from the Maine Department of Agriculture, Conservation and Forestry reveals that there are 145 different species of spiders on and around Mount Katahdin, including five that have been previously unidentified.
The Maine Forest Service report is based on the scientific collection and identification work done by scientists Daniel T. Jennings, Charles D. Dondale and James H. Redner from Maine and Canada and provides scientific knowledge that could provide baseline information on habitat and recreational-use effects in the park, according to Charlene Donahue, MFS forest entomologist.
None of the 145 different species of spiders found were poisonous, as Maine has no native poisonous spiders, the MFS forest entomologist said. The five previous unidentified species are unique to the North American alpine environment found on Katahdin and some of them have also been found on Mt. Washington and in Quebec.
Some Katahdin specimens are available in the MFS insect collection, while others are being kept at the Harvard Museum of Comparative Zoology, Cambridge, Mass.
As part of its mission, the state’s Forest Service frequently publishes technical reports on a variety of scientific subjects, from invasive insects to silviculture, as a way to support Maine landowners, forest managers and businesspeople.
Hi. Welcome to our new site. We have compiled a large amount of information for those wishing to visit our region. We also feature stories, photos and videos from the Millinocket, Medway, Sherman and Patten, Maine area. An area otherwise known as the “Katahdin Region.” Start at our Homepage and go from there!