Port of Morrow Secures $277 Million in Financing for Wastewater Treatment Expansion Through Alphaledger, Underwritten by Celadon Financial Group

Boardman, OR—The Port of Morrow (the “Port”), through its advisor SDAO Advisory Services (SDAOAS), has secured $277 million in short-term financing to fund the expansion of its industrial wastewater treatment facilities. The financing was underwritten by Northland Securities, Inc. and Celadon Financial Group and facilitated by Alphaledger’s innovative blockchain platform, which provided a streamlined and secure solution for this significant transaction.

This crucial funding will enable the Port to enhance its wastewater treatment infrastructure, bringing it into compliance with state environmental regulations. The project includes increasing wastewater storage capacity, adding new anaerobic digesters for primary treatment, and upgrading secondary systems to reduce nitrogen levels. This expansion is key to ensuring that the Port continues to meet the region’s growing industrial wastewater needs.

“The Port of Morrow is dedicated to promoting economic development in Morrow County, and this financing is a critical step in ensuring that we have the infrastructure to support that mission,” said a representative from the Port.

The Port is awaiting additional long-term funding through the federal Water Infrastructure Finance and Innovation Act (WIFIA), which is expected to cover a significant portion of the total $432 million project cost. In the meantime, this short-term financing ensures that the project can move forward, allowing the Port to maintain momentum on development efforts.

David Ulbricht of SDAO Advisory Services praised the role of technology in securing the financing: “Alphaledger’s blockchain platform was instrumental in connecting the Port with a broad network of liquidity providers, and Celadon Financial Group’s underwriting ensured the deal was structured effectively to meet the Port’s immediate needs. This collaboration highlights the power of innovative financial solutions in advancing public infrastructure projects.”

“With over 30 years in public finance, it’s evident that the municipal market can significantly benefit from purpose-built technology,” said Tom Weyl of Celadon. “The Alphaledger platform enhances access to funding while providing a critical tool for underwriters and advisors to ensure transparent, auditable records. I’m proud to have worked with the Port, SDAOAS, and Alphaledger on this project, helping advance this technology.”

Manish Dutta, CEO of Alphaledger, expressed his enthusiasm about the transaction. “This financing demonstrates how our platform can deliver value by providing an efficient, secure pathway to capital. We are pleased to support the Port of Morrow and SDAOAS on this project.”

“The Alphaledger platform facilitates seamless connections between issuers, their advisors, and market participants, providing a secure and efficient way to structure deals and finalize pricing,” said Jim Tinker, VP of Product Development at Alphaledger and a former municipal banker. “Giving issuers access to a wide network of liquidity providers ensures critical infrastructure projects, such as the Port of Morrow, get funded.”

As construction moves forward, the Port is working closely with its industrial and agricultural partners to responsibly manage wastewater discharge. The expanded facilities will support the region’s growing industrial base while safeguarding the natural environment.

The successful partnership between the Port, SDAOAS, Alphaledger, and Celadon Financial Group marks a significant milestone in utilizing blockchain technology to advance public infrastructure, securing both immediate and long-term benefits for Morrow County’s economy.

About Port of Morrow

The Port of Morrow is Oregon’s second-largest port and a vital economic hub for the region, supporting industries ranging from food processing and energy production to transportation and logistics. Its mission is to promote economic development and job creation in Morrow County while prioritizing sustainable practices and responsible resource management.

About SDAO Advisory Services

SDAO Advisory Services is a public advisory organization that provides expert financial and operational guidance to special districts and municipal entities across Oregon, helping them navigate complex financial transactions and infrastructure projects.

About Celadon Financial Group

Celadon Financial Group is a full-service investment bank and broker-dealer specializing in underwriting, structuring, and advising on capital market transactions. With a focus on innovative financial solutions, Celadon supports clients across public, private, and non-profit sectors.

About Alphaledger

Alphaledger is a leading provider of blockchain infrastructure for fixed income assets, focused on origination and the development of autonomous settlement. The company’s platform is designed to streamline the entire lifecycle of financial assets, from origination to settlement, by leveraging the power of blockchain technology. Notably, Alphaledger pioneered the recording of municipal loans and securities on its platform. The company is committed to driving innovation and efficiency in the financial services industry.

Alphaledger is a technology company focused on providing technology to its subsidiaries and prospective clients. It does not lend itself to the solicitation of securities activities, as it can only be done by prospectus and via a registered broker dealer such as Alphaledger Markets, Inc., “ALM”. ALM is wholly owned by Alphaledger and is registered with SEC, FINRA, the MSRB and SIPC. Check the background of ALM on FINRA’s BrokerCheck.