On July 31, 2018, a Lyme affiliate closed on $50 million financing with PENNVEST for land purchases in northwest Pennsylvania that support the local forest products industry and provide clean water benefits to nearby communities by protecting important watersheds. In exchange for the financing, Lyme donated a conservation easement over approximately 9,500 acres of timberland, will perform acid mine drainage (AMD) remediation work on lands in Cameron County, and will manage an additional 51,000 acres of lands subject to conservation restrictions over a seven-year option period during which the Commonwealth of Pennsylvania will have the right to purchase conservation easements to permanently protect the additional lands.
Lyme closes on $50 million in financing from PENNVEST, providing clean water benefits to local communities
July 31, 2018