Private equity firm plans new hydroponic farm in Maine
STANDISH, Maine (AP) — A private equity firm that failed to restart a Maine paper mill is working on developing a fish farm for the Maine town of Standish.
Portsmouth, New Hampshire-based Cate Street Capital says it is backing two entrepreneurs who want to create a hydroponic fish farm on the campus of St. Joseph’s College in Standish. The Bangor Daily News reports the entrepreneurs’ company, Organic Nutrition Inc., began construction on a Florida headquarters in October.
The Maine facility is planned for construction in 2018.
Cate Street plans to use a combination of private financing, federal government support, a partnership with the college and a program that offers foreign investors a fast-track to citizenship to finance Organic Nutrition.
This story has been corrected to reflect that the Bangor Daily News, and not Maine Public, reported that a private equity firm is working on a fish farm.