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US (ME): College scraps deal with company to build greenhouse

St. Joseph’s College and a company backed by private equity firm Cate Street Capital have called off a partnership to develop a greenhouse on the college’s Standish campus, which was tied to a $750,000 donation to the college.

The partnership was with Organic Nutrition Inc., which would have given $750,000 to the private college and gotten its name on a hydroponic greenhouse as part of the new institute. Organic Nutrition also would have helped develop curriculum for St. Joseph’s new certificate program in hydroponics, according to a federal grant application.

Peter Nielsen, an entrepreneur-in-residence at St. Joseph’s who is leading development of the Institute for Local Food Systems Innovation, said college President Jim Dlugos informed Organic Nutrition on Jan. 6 that the college had decided to end the relationship.

“All parties agreed that it was not a good fit,” Nielsen said.

Sarah Boone, a vice president at Cate Street and spokeswoman for Organic Nutrition, wrote in an email that “while we had common interests and enjoyed a positive working relationship, ultimately our goals did not align to the degree we originally believed.”

Read more at Bangor Daily News (Darren Fishell)

Publication date: 1/19/2018



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