Cate Street Capital, LLC, the owner of Thermogen Industries, has asked the Finance Authority of Maine (FAME) to allow it to change the process and product it will make at its yet-to-be constructed plant in East Millinocket.
The company has decided to put its money on a technology known as steam-exploded black pellets rather than the torrefied wood product known as biocoal. University of Maine Professor Robert Rice has said of the two products that, "based on testing we have done…of torrefied wood and black pellets, I would say that black pellets have a distinct advantage.”
FAME will review the proposed change to Cate Street's financial package of bonds and loan guarantees at its meeting in April. Read all the details in the Bangor Daily News.