Maine insulation firm raising $85M to rehab former Madison paper mill

Nov 24

BANGOR DAILY NEWS • November 24, 2021

A startup planning to manufacture wood-fiber insulation that is less toxic to firefighters than conventional carbon-based products is raising $85 million in tax-exempt “green bonds” to rehab the former Madison paper mill that closed in 2016. GO Lab Madison LLC, which will operate the factory, also said it has chosen Pittsfield-based construction company Cianbro Corp. to rehabilitate the mill. The factory will consume about 180,000 tons of softwood chips annually.

Maine Environmental News

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