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GOLab secures financing for construction at Madison mill

GO Lab intends to produce three types of wood-fiber insulation, employing 120 people at the...
GO Lab intends to produce three types of wood-fiber insulation, employing 120 people at the Madison mill.(Gray tv)
Published: Dec. 31, 2021 at 6:58 AM EST
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MADISON, Maine (AP) - Belfast-based GO Lab has secured the $85 million in financing needed to begin transforming the former Madison Paper Industries mill.

GO Lab intends to produce three types of wood-fiber insulation, employing 120 people at the Madison mill.

The building products manufacturer bought the mill in 2019 in a $1.9 million deal.

To finance construction, it sold tax-exempt green bonds issued by the Finance Authority of Maine.

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