Castleton Paperboard LLC (“Castleton”) has previously contracted with the County of Rensselaer to investigate the possibility of cleaning up the brownfield site located on the former Fort Orange site in the Village of Castleton-on-Hudson, NY in order to develop a new paper recycling facility. Castleton is an affiliate of MiniMill Technologies, Inc., a consultant and developer of technologies of state of the art recycling plants. Castleton has concluded that the site is worthy of further consideration and development and has plans to develop a 300,000 tons per year facility to produce recyclable products. The facility anticipates to utilize 350-400 people during construction and more than 90 people for operations.

The County of Rensselaer has been very cooperative during this process and has continued to offer assistance to Castleton to get project financing, permits, effluent treatment, rail access and utility agreements. Castleton has received substantial interest from the buyers of the product and financial partners. Castleton anticipates that the investigation, construction and production should be completed in no more than 24 months.