St. Joseph’s College has ended its partnership with Organic Nutrition Inc. to develop a hydroponic greenhouse on the college’s Standish campus.
The Bangor Daily News reported the partnership would have given $750,000 to the college. Organic Nutrition Inc. is backed by private equity firm Cate Street Capital, of Portsmouth, N.H., whose 2011 restart of the Great Northern Paper mill in East Millinocket eventually failed and ended in bankruptcy.
“All parties agreed that it was not a good fit,” Peter Nielsen, an entrepreneur-in-residence at St. Joseph’s who is leading development of the Institute for Local Food Systems Innovation, told the BDN.
Nielsen told the BDN that the decision won’t hinder the institute’s broader plans or funding. The college has committed to matching a nearly $2 million award from the U.S. Economic Development Administration.
The hydroponics facility, planned for construction in 2018, is part of the college’s Institute for Local Food Systems Innovation. The facility will support a new certificate program at St. Joseph’s and provide support to other hydroponics businesses.
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