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United States

Maine—Stored Solar’s Shrimp Farm

 

Stored Solar, which owns two wood-fired power plants in Maine, is about to receive a $500,000, state-backed loan to build “Katahdin Shrimp Farm” on one if its properties, despite allegations that it owes hundreds of thousands of dollars to wood suppliers and contractors and has failed to pay last year’s $90,000 tax bill in Jonesboro, Maine, where one of its plants is located.

 

Kimberly Samaha, chief executive officer of Synthesis Venture Fund Partners, which bought Stored Solar’s two plants in 2017, says she and her husband, Fahim, invested more than $17 million in Stored Solar’s ailing wood-fired power plants and are committed to settling unpaid bills and back taxes.

 

Kimberly Samaha said Stored Solar has signed a contract with Eco Shrimp Garden, a shrimp farm in a former mattress factory in Newburgh, New York, to develop the first module of the shrimp farm, which plans to produce 55,000 pounds of shrimp the first year, as a proof of concept for a larger operation.  The heat from the power plant will be used to heat the shrimp farm’s water to roughly 85 degrees.  The Samahas believe revenue from the shrimp farm will help make the power plant profitable.  They plan to start construction on the shrimp farm in the spring of 2018.

 

Information: Jean Claude Frajmund, Eco Shrimp Garden, 99 S William Street, Newburgh, New York 12550, USA (Phone 1-845-561-2048, Email contact@ecoshrimpgarden.com, Webpage https://www.ecoshrimpgarden.com).

 

Information: Kimberly Samaha, Synthesis Venture Fund Partners, 254 Commercial Street, Portland, Maine 04101, USA (Email info@synthesis-vfp.com, Webpage http://www.synthesis-vfp.com).

 

Information: Bill Harrington, Vice President, Stored Solar, 62 Whitneyville Road, Machias, Maine 04654, USA (Phone 1-219-712-4764, Email contact@thestoredsolar.com, Webpage http://www.thestoredsolar.com).

 

Source: PressHerald.com.  Backers of Biomass Project Say They Are Paying Bills, Back Taxes and “Not Going Anywhere”.  Tux Turkel (Email tturkel@pressherald.com).  October 13, 2017.

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