"We are pleased to announce that Cube Hydro will assume control of the Lyonsdale and Little Falls facilities and will maintain Bill Burrows' vision and commitment to sustaining the environment. We are extremely proud of our dedicated employees who have operated and maintained these facilities since they commenced commercial operations, and we are positive that Cube Hydro will continue this strong operating history," said Rose Mihaly, president and chief operating officer of Burrows Paper Corporation.
"Cube Hydro is excited to close on the acquisition of Lyonsdale Associates and assume control of the Lyonsdale and Little Falls hydro plants. We look forward to operating and maintaining these facilities to maximize the generation of clean electricity to businesses and residents of Upstate New York, and to being part of and involved in the local communities," said Kristina Johnson, president and CEO of Cube Hydro.
John Collins, president of Cube Hydro New York, added, "We have been extremely impressed with the commitment of Burrows Paper Corporation and Lyonsdale Associates, and their employees to operate and maintain these plants at a very high standard to ensure the long-term generation of clean, renewable electricity. We are committed to maintaining these high standards to ensure the production of clean electricity for decades to come."
About Burrows Paper Corporation
Burrows Paper Corporation operates four paper mills and six packaging converting facilities domestically and abroad. Burrows maintains the highest standards and holds certifications from ISO 9001, HACCP, Forest Stewardship Council, Sustainable Forest Initiative and Programme for the Endorsement of Forest Certification. Burrows incorporates nearly 100 years of papermaking experience into its food packaging line of products and is one of only a few companies capable of producing light weight printable tissue paper from 7.5 to 30 pounds (12.2 to 48.9 gsm). Burrows offers machine glaze and machine finish paper grades for a variety of uses from medical and food packaging to innovative industrial applications. For information, visit www.burrowspaper.com.
About Cube Hydro New York LLC
Cube Hydro New York LLC is a wholly-owned subsidiary of Cube Hydro Partners, LLC, a hydropower development and operating platform targeting investments in mid-sized Greenfield and operating hydro projects in the U.S. and Canada. Cube Hydro Partners is a portfolio company of the ISQ Global Infrastructure Fund, L.P., and its affiliated funds, which invest in energy, utilities, and transport in North America, Europe and select high-growth economies, and is managed by I Squared Capital Advisors (US) LLC.