September 17, 2009
Strong pellet mill gets loan to rebuild
By The Mainebiz News Staff
The Finance Authority of Maine today approved a $500,000 economic recovery loan to Geneva Wood Fuels LLC to help the company resume operations after an explosion at its Strong manufacturing facility in early August.
Geneva Wood Fuels, founded in May 2008, owns and operates a 140,000-ton-per-year wood pellet mill in the Franklin County town of Strong. The bridge loan will allow the company to get a jump-start on rebuilding the mill until insurance proceeds from an explosion that damaged the facility are received, according to a press release from FAME.
The company expects to re-employ approximately 30 Maine workers when it's up and running again.
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