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V O L . X X I V N O. V I I A P R I L 2 , 2 0 1 8 12 B U S I N E S S M A I N E B U S I N E S S M A I N E B U S I N E S S N E W S F RO M A RO U N D T H E S TAT E was led by Pure Terra Ventures, an investment fi rm that specializes in water technologies and is based in Shanghai, China. Secondary inves- tors were Maine Venture Fund and Propel(x), a syndicate of Silicon Valley angel investors. Cerahelix launched its fi rst commercial picofi ltration product in 2016, the PicoHelix, a ceramic membrane fi lter that achieves purity levels at least 10 times higher than commercially available ceramic fi lters, the company said in a news release. In addition to helping sales and marketing eff orts, the funding will help pay for scaled up manufacturing, product develop- ment and current operations. N O T E W O R T H Y N O R T H E R N & E A S T E R N The Maine Credit Unions' Campaign for Ending Hunger announced a $100,000 commitment to Good Shepherd Food Bank's renovation proj- ect to expand capacity and distribu- tion at its new Greater Bangor Region Distribution Center in Hampden. University Credit Union in Orono re- newed its partnership with University of Southern Maine Athletics to pro- vide $10,000 in funding for facilities improvements, equipment upgrades, special services/events and other activities not included in the depart- ment's regular operating budget. The credit union also expanded its state- wide fl eet of interactive video teller machines adding one in Curtis Hall on the campus of Maine Maritime Academy in Castine. WE'VE GOT MAINE* COVERED ALL DAY AND EVERY DAY *with nightly and weekend routes to New Hampshire and Massachusetts with nightly and weekend routes to New Hampshire and Massachusetts WE WANT TO BE YOUR COURIER! FIRST TIME CUSTOMER? Mention this ad for 50% off of your first pick-up and delivery order. of your first pick-up and delivery order. Service and dispatch: 848-7546 Sales and information: 800-427-7547 UnishipCourier.com Rates as low as $15 for same day pickup/delivery Stay informed, engaged and connected with a print + digital subscription to Mainebiz. You'll receive bi-weekly issues, special publications and full online access! F U L L C O N T E N T S O N PA G E 4 F U L L C O N T E N T S O N PA G E 4 F U L L C O N T E N T S O N PA G E 4 S O U T H E R N M A I N E S O U T H E R N M A I N E S O U T H E R N M A I N E F O C U S F O C U S F O C U S Economy Economy Economy motion motion motion $2.00 $2.00 $2.00 July 10, 2017 July 10, 2017 July 10, 2017 VO L . X X I I I N O. X V VO L . X X I I I N O. X V VO L . X X I I I N O. X V www.mainebiz.biz www.mainebiz.biz www.mainebiz.biz Know Maine Business. Or call: 845.267.3008 Subscribe online: mainebiz.biz/knowmainebiz F O C U S F O C U S F O C U S S O U T H E R N M A I N E S O U T H E R N M A I N E S O U T H E R N M A I N E Southern Maine builds Southern Maine builds Southern Maine builds on diverse industries on diverse industries on diverse industries S O U T H E R N M A I N E S O U T H E R N M A I N E S O U T H E R N M A I N E F O C U S F O C U S F O C U S Economy Economy Economy motion motion motion S O U T H E R N M A I N E F O C U S S TA R T S O N PA G E 1 1 S O U T H E R N M A I N E F O C U S S TA R T S O N PA G E 1 1 S O U T H E R N M A I N E F O C U S S TA R T S O N PA G E 1 1 » in in in Economy in Economy Economy Economy in Economy in Economy in Economy Economy Economy in Economy motion in motion motion motion in motion in motion in motion motion motion in motion F U L L C O N T E N T S O N PA G E 4 F O C U S S O U T H E R N M A I N E M U S H RO O M A N D C O N S T R U C T I O N P H O T O S / T I M G R E E N W AY P O R T S M O U T H N AVA L S H I P YA R D P H O T O S / J I M N E U G E R 12 Anchoring Kittery The Portsmouth Naval Shipyard, a major employer in southern Maine, gears up for the future. 16 A real estate surge A shortage of existing homes has contractors scrambling to meet the demand for housing. 19 Ag's next wave? Mushroom growers are cultivating a variety of fungi to keep up with demand from chefs and consumers. Southern Maine builds on diverse industries S O U T H E R N M A I N E F O C U S Economy motion S O U T H E R N M A I N E F O C U S S TA R T S O N PA G E 1 1 » in $2.00 July 10, 2017 VO L . X X I I I N O. X V www.mainebiz.biz F U L L C O N T E N T S O N PA G E 4 F O C U S S O U T H E R N M A I N E M U S H R O O M A N D C O N S T R U C T I O N P H O T O S / T I M G R E E N W AY P O R T S M O U T H N AVA L S H I P YA R D P H O T O S / J I M N E U G E R 12 Anchoring Kittery The Portsmouth Naval Shipyard, a major employer in southern Maine, gears up for the future. 16 A real estate surge A shortage of existing homes has contractors scrambling to meet the demand for housing. 19 Ag's next wave? Mushroom growers are cultivating a variety of fungi to keep up with demand from chefs and consumers. Southern Maine builds on diverse industries S O U T H E R N M A I N E F O C U S Economy motion S O U T H E R N M A I N E F O C U S S TA R T S O N PA G E 1 1 » in $2.00 July 10, 2017 VO L . X X I I I N O. X V www.mainebiz.biz Business and Economic Development Committee meeting on March 20, the Bangor Daily News reported. e plan would include a structure around the Darling's Waterfront outdoor concert venue, with a permanent stage, seating, concessions, VIP areas, bathrooms and upgraded security; and an extension on the current 10-year contract to 30 or 40 years. e venue would accommodate 17,000 patrons, 3,000 more than current capacity. e estimated cost of $17 million to $19 million would be largely paid for by Waterfront Concerts and Live Nation, the venue's booking agent. Cerahelix secures $2 million in VC funding e Orono-based startup Cerahelix Inc., which produces an energy effi - cient water reuse technology, secured $2 million in fi nancing to expand its sales and marketing eff orts. e Series B round of fi nancing B R I E F Bangor Savings Bank opening branch in Portsmouth B y M a i n e b i z S t a f f Bangor Savings Bank will continue its southward expansion, saying it plans to open a branch in downtown Portsmouth, N.H. President and CEO Bob Montgomery-Rice said the site, 8 Bow St., will undergo renovations and open by late summer. It will have fi ve employees. "We're excited to be moving forward with another investment in Portsmouth," said Montgomery-Rice. "Portsmouth is a won- derful, vibrant downtown and we are thrilled to be part of it." In October 2017, Bangor Savings announced an agree- ment to acquire all Granite Bank locations in New Hampshire, including a full-service branch offi ce on Lafayette Drive in Portsmouth. Pending fi nal approvals, the merger will be complete in early April. Last week, the parent companies of Bangor Savings and Granite Bank jointly announced that shareholders of Granite Bank's parent fi rm had approved the previously announced merger transaction on March 14, with 97% of the shares present voting in favor. Bangor Bancorp MHC, the sole shareholder of Bangor Savings Bank, has already approved the proposed merger. In addition, the transactions were approved by the Maine Bureau of Financial Institutions, the New Hampshire Banking Department and the Federal Deposit Insurance Corp. Under the terms of the merger, shareholders of First Colebrook, Granite Bank's parent fi rm, will receive $45 in cash in exchange for each share of First Colebrook stock for a transaction valued in aggregate at approximately $45 million. The transaction is expected to close on April 6. "We are excited about the potential benefi ts of the merger for our stockholders, customers and the communities we serve as well as for our employees," Scott A. Cooper, presi- dent and CEO of First Colebrook and Granite Bank, said in a news release. Bangor Savings, Maine's second-largest bank with $3.7 billion in assets, has 54 locations. It is building a new head- quarters on the waterfront in Bangor. F I L E P H O T O / JA S O N PA G E S M I T H Bob Montgomery-Rice, president and CEO of Bangor Savings Bank, said the bank will open a branch in downtown Portsmouth, N.H. It is also in the process of buying Granite Bank's locations in New Hampshire.

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