MAINEBIZ • May 25, 2021
The Finance Authority of Maine has approved an $800,000 FAME Direct Loan to Standard Biocarbon Corp., to help pay for equipment for the company's biochar operation at the former East Millinocket mill, pending approval of financing from other agencies. SBC, the anchor tenant of the new town-owned innovation campus, will use the loan to buy two kilns that will be used to produce biochar, which is a granular carbon substance produced when organic matter is decomposed thermally in an oxygen-starved chamber, a process called pyrolysis.