NEWS RELEASE

FOR IMMEDIATE RELEASE

Press Contact: Stuart D. Bienenstock

Email:  Stuart@triplefive.com  

Triple Five Brings Largest Aviation & Technology

Innovation Hub to 
New York 
 

(Calverton, New York – November 7, 2018) - Calverton Aviation &

Technology (CAT), located in an Opportunity Zone, passed a major milestone
on November 7, 2018, as the Riverhead Town Board voted to approve the
sale to CAT of the 1,643+-acre undeveloped parcel in eastern Suffolk County,
New York that was the former Naval Weapons Industrial Reserve Plant at
Calverton.  Over the next decade, CAT intends to leverage several billions of
dollars of private investment to transform this significant asset into a world-
class aerospace technology, innovation and high-tech manufacturing hub.   
Calverton Aviation & Technology Innovation Hub.  The CAT Hub seeks to
create a critical mass of companies in a new aerospace cluster.  Currently all
developing aerospace industries are based on next generation, ultra-light
weight/ultra-strong composites. The CAT Hub will anchor emerging industries
around the next generation carbon and composite production lines
of Luminati Aerospace, one of the Founding Partners of CAT.  In addition,
CAT plans on investing in advanced electric motor and drive sub-systems
that are required to be the basic building blocks of the massive market growth
of electric aviation.  
Unlike the lackluster incubator models of the last 30 years, which will rent to
any interested company, the CAT Hub will provide a synergistic ecosystem
with technology infrastructure for an expertly curated group of companies in
which the whole is greater than the sum of its parts. Synergistic companies
will range from academic and workforce development institutions, to defense
contractors, aerospace companies, and high-tech manufacturers, and will
range in size from start-ups to established businesses.
Unlike conventional aerospace, which has a lower barrier to entry with off the
shelf components, engines, turbines and materials due to technology freezes
measured in decades due to long contract lifecycles, barriers to entry in next
generation aerospace industries are critically high.  The CAT Hub will give its
companies an edge over their competitors by centralizing necessary
resources, technologies, and production lines. 
It is critical to CAT, the companies locating in the CAT Hub, and Long Island
businesses as a whole that the Long Island talent pool be replenished, and
CAT intends to focus on bringing to the CAT Hub world-class, hands-on
education and training incorporating the entire supply chain, with an initial
focus training technicians and engineers for the manufacture of composites
as well as CNC machining.  
Zoning & Site Development.  The site is zoned to accommodate 9.8 million
square feet of development.  CAT will build a minimum of 1 million square feet
within the first five years after the transfer of the property.  The site is primed
for development with Navy built infrastructure that includes sewer, freight rail
access, and two non-intersecting runways, which at 10,000 feet and 8,000
feet are two of the longest runways in the country.  
CAT will work with the Town of Riverhead to develop a “critical path” of
milestones necessary to complete the due diligence process and record the
subdivision necessary to transfer the property, and will simultaneously pursue
building permits for the Phase I building, so that shovel can break ground as
soon as possible after the transfer of the property to CAT.
Economic Considerations.  The property is a New York State designated
Urban Renewal Area as well as a federally designated HUB zone.  In 2018,
the U.S. Treasury Department designated Calverton as an Opportunity Zone,
a new federal program designed to boost private investment in underserved
urban and rural communities via tax benefits such as temporary tax deferrals
on capital gains or investment profits. Triple Five, the other Founding Partner
of CAT, is creating an Opportunity Zone Fund to invest into the site and other
designated zones across the United States.
“We believe working in partnership with New York State, the local community,
Suffolk County and the federal government, we can restore Long Island’s
aerospace heritage along with the associated high-tech manufacturing job
base – a monumental task formerly thought to be impossible. Our goal is to
invest into this site and others on Long Island and throughout New York
State, including our recent purchase of the former Dowling NATS (National
Aviation & Transportation Study) Center in Brookhaven Town, to curate the
most significant aerospace projects and propel the Long Island eco-system to
a leadership position in advanced technology,” said Stuart Bienenstock,
Business Development for Triple Five. 
 
Founding Partners of CAT:
Triple Five® Worldwide www.triplefive.com has successfully developed and
managed a wide-range of mixed-use developments and large-scale ventures
from shopping centers to amusement parks, hospitality properties to
industrial real estate and natural resource development.  
Luminati Aerospace http://www.luminati.aero/ has a management team
with a history of success in prime defense contracting, aircraft design, and
adaptive flight control, and owns key intellectual property and technology in
the field of Electric/Solar HALE aircraft as well as next generation ultra-light
weight/ultra-strong composite construction and process machinery.  
Luminati VTOL www.luminativtol.aero/ has acquired rotorcraft assets, with a
focus on advanced coaxial and compound helicopters and designing manned
and unmanned vehicles for commercial and defense applications.
Strategic Partners:
Launcher https://twitter.com/launcherspace is a startup on a 10-year
journey to deliver small satellites to orbit. Launcher is designing a launch
vehicle capable of delivering 300 Kg of satellite payload to low Earth
orbit.  Over the past year at Calverton Enterprise Park, Launcher has been
developing and test firing Engine-1, a 3D-printed liquid propellant rocket
engine, 500 pound-force of thrust, fueled with liquid oxygen and
kerosene.  During the next 3 years Launcher will develop a larger flight
engine: Engine-2, a 22,000 pound-force oxidizer rich staged combustion
engine. Once Engine-2 is completed, design, manufacturing and testing of the
launch vehicle which will eventually be transported and test launched at a US
government/NASA approved spaceport.  See Vice News Coverage of October
2018 Launcher engine test with founder Max Haot: https://www.pscp.tv/
vicenews/1vOGwVdPejvKB?t=5m
Composite Prototype Center (CPC) http://compositepro.org/  is a New
York State funded non-profit facility in Plainview, NY, with the mission to take
the best prototype assets available to form a core manufacturing competency
in the rapidly growing composite market, while providing companies access
to essential training/workforce development, process technologies, prototype
manufacturing and test capabilities. CPC will be instrumental in helping in the
development of a composite capability at the CAT Hub as well as the
workforce development, training and education efforts at the NATS Center in
Brookhaven.  As the designated Northeast Center for the DoE's Institute for
Advanced Composites Manufacturing Innovation (IACMI), the CPC offers a
wide array of state-of-the-art equipment and systems to advance composites
manufacturing technology.  CPC is looking forward to working with CAT and
the local authorities on the development of an exciting world-class
manufacturing and development aerospace eco-system in New York State. 
 Brookhaven National Aviation & Technology Study (NATS) Center - Triple
Five Aviation Industries, a subsidiary Triple Five Worldwide Group, also
closed on its $14 million purchase of the 105-acre property next to the
Brookhaven Calabro Airport in September 2018.  The site includes a
70,645-square-foot, 70-room dormitory; an athletic complex; and a 65,000-
square-foot office/classroom complex which also features an airplane
hangar.  The goal for the site is an industry-university research and
development center for advanced transportation technology and propel the
Long Island eco-system and the William Floyd Tech Corridor to a
leadership position in advanced technology, similar to Silicon Valley
 
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