MINNEAPOLIS & MIDDLEBURY, Vt.–(BUSINESS WIRE)–RuralWorks Partners, LLC (RuralWorks), an impact investment firm committed to rural communities and environmental sustainability, proudly announces its inaugural investment in TimberHP, a leading manufacturer specializing in wood fiber insulation solutions. This investment marks a milestone for both companies as they join forces to foster sustainable growth, create quality jobs, and further environmental stewardship in Madison, Maine and beyond.
RuralWorks’ investment in TimberHP reflects a shared commitment to sustainable practices, community development, and the reduction of greenhouse gas emissions. This partnership underscores the significance of investing in businesses that align with the ethos of both companies, emphasizing the importance of supporting impactful initiatives.
TimberHP, the first wood fiber insulation manufacturer in the United States, stands as a testament to commitment and innovation. The wood fiber insulation produced by TimberHP not only showcases superior quality and efficiency but also significantly contributes to environmental preservation through its unique capability to sequester greenhouse gases. In addition, the company’s dedication to the local community of Madison, Maine, resonates deeply with RuralWorks’ vision of promoting economic growth in rural communities.
“At TimberHP, we are excited about partnering with RuralWorks,” said Josh Henry, co-founder and President of TimberHP. “This investment not only signifies a vote of confidence in our business but also highlights our shared values of investing in a diverse and empowered workforce, rural economic development and manufacturing products that directly combat climate change and encourage sustainable forest stewardship.”
RuralWorks also views its investment in TimberHP as furthering shared goals. “We are excited to support TimberHP and to help launch a range of insulation products that are carbon negative and represent a unique solution in the marketplace,” said Skip Wyer, chief investment officer of RuralWorks. “These are products that, while new to the United States, have been successfully manufactured and used in Europe for several decades. We think the team at TimberHP has the potential to do great things for investors, the climate and the rural community in which it is located.”
About RuralWorks: RuralWorks Partners is an impact investment firm that delivers much needed growth capital to rural businesses that are doing their part to protect our planet and generate community wealth and economic resilience. By investing in ready-to-scale rural businesses that create quality jobs and protect the environment, either by demonstrating a commitment to environmentally sustainable business practices or by providing solutions that address climate change or other environmental challenges, RuralWorks can deliver meaningful impact to both underserved rural communities and the environment. RuralWorks was created by Community Reinvestment Fund, USA (CRF) and Conduit Capital (USA). Learn more about RuralWorks at www.ruralworkspartners.com.
About TimberHP: TimberHP is the first company in North America to manufacture building insulation made from wood fiber from its facility in Madison, Maine. TimberHP products are high-performing, cost-competitive and sustainably manufactured while offering a climate friendly, carbon-sequestering alternative to the petroleum-based foams and energy-intensive fiberglass, foam and mineral wool insulations that dominate the North American construction market. At full production TimberHP Madison anticipates it will employ over 140 people, generate an estimated $170 MM of revenue and reduce global carbon emissions by roughly 5 million metric tons of CO2eq a year (equivalent to: the removal ~1,000,000 cars off the road, 600,000,000 fewer gallons of gasoline consumed or shutting down an entire coal power plant). Learn more about TimberHP at www.timberhp.com.
Contacts
Louisa Schibli, RuralWorks Partners, LLC
(802) 497-4834
louisa@ruralworkspartners.com
Amy Noble, TimberHP
(207) 815-5429
amy.noble@TimberHP.com