GO Lab, Inc. to begin construction of first wood fiber insulation manufacturing plant in North America
November 9, 2021
Madison, Maine — GO Lab, Inc. is pleased to announce approval of a capital project to renovate a former paper mill in Madison, Maine to manufacture wood fiber insulation products for the residential and light commercial construction markets. Buildout of the facility and installation of manufacturing lines will be financed with the proceeds from the sale of up to $85 million tax exempt bonds to be issued by the Finance Authority of Maine. Proceeds of the bonds will be lent to GO Lab Madison, LLC, a subsidiary of GO Lab, Inc. GO Lab, Inc. has engaged Citigroup Global Markets to act as underwriter with respect to the bonds.
GO Lab, Inc. expects the bonds to be marketed at the end of November. GO Lab, Inc. was represented in the transaction by Pierce Atwood LLP.
The bonds are being designated as ‘Green Bonds’ as defined in the ICMA (International Capital Market Association) 2021 Green Bond Principles—based on the opinion letter provided by Vigeo Eiris, an affiliate of Moody’s.
About GO Lab, Inc.
GO Lab, Inc. was founded in 2017 to develop and manufacture wood fiber insulation solutions for the residential and light-commercial construction markets. Wood fiber board, batt, and loose fill insulation products are an easy drop-in replacement for other insulations on the market. Along with being high-performing, wood fiber insulation products are easy and safe to install, renewable, recyclable, nontoxic, and will have a negative carbon footprint. When manufactured here in America, GO Lab’s TimberHP product line will offer the most comprehensive, above-grade solution on the market—cavity, continuous and blanket insulation made from one material, from one manufacturer.
For further information, please contact:
Treasurer and Chief Financial Officer
GO Lab, Inc.
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