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US (ME): Lisbon farm raises money for aquaponics facility

A farm in Lisbon that grows lettuce indoors year-round using aquaponics has raised one-third of the total $1.6 million in equity funding it is seeking.

Springworks Farm Maine Inc., started three years ago by Bowdoin College student Trevor Kenkel, 22, raised $535,838, according to a U.S. Securities and Exchange Commission filing. About $150,000 of the proceeds will be used to pay debt held by company officers, while the rest will be used for expansion.

“We are still operating at full capacity, and production will increase as the weather gets colder,” said Duncan Pfaehler, director of horticulture and research at the company.

Springworks currently has one greenhouse, and has plans for a second, but it is looking at vendors now to build it.

Read more at Bangor Daily News

Publication date: 9/13/2017

 


 

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