Sustainable Property Holdings LLC — best known as sPower — has withdrawn its lawsuit against Riverhead Town and Calverton Aviation & Technology, saying that the latter admitted in a court document that the 2017 letter of intent between the town and Luminati Aerospace was no longer valid. READ
The “qualified and eligible” hearing on Calverton Aviation & Technology scheduled for Wednesday will be adjourned, as one of the principals in that company is changing the name of the entity. (more…)
As 2017 came to an end, a split Riverhead Town Board voted to hold a “qualified and eligible sponsor” hearing on Luminati Aerospace and its new partner, Triple Five Ventures Co. LLC, on Jan. 17, 2018. The hearing is meant to demonstrate whether the company has the financial wherewithal to carry out its proposed $40 million, 1,604-acre purchase from the town, in order to do aviation manufacturing. read
In the latest developments in the saga surrounding the sale of Riverhead-owned land at the Enterprise Park at Calverton, a new financial partner has stepped in with Luminati Aerospace LLC and a New York billionaire says he is no longer involved in the project.
Luminati unveiled one of its aircraft at an open house several years ago.
Riverhead Town officials met Monday with John Catsimatidis, the billionaire CEO of New York City-based United Refining Energy Corp, to discuss the proposed deal between his company and Luminati Aerospace, which is seeking to purchase about 1,600 acres of land at Enterprise Park at Calverton. READ
Daniel Preston, the CEO of Luminati Aerospace, the firm looking to restart the aerospace industry by purchasing Riverhead Town-owned land at the Enterprise Park at Calverton, was the subject of a lawsuit in 2009 over an alleged job offer from a company offering Mr. Preston a far higher salary than he was being paid at the company he helped create, Atair Aerospace, according to court documents.
Luminati Aerospace CEO Daniel Preston has liens totaling more than $55,000 against him and his company for construction work done at the Enterprise Park at Calverton and other properties, Suffolk County records show.
Three Riverhead Town Board members said Friday they won’t support the Luminati Aerospace sale unless changes are made.
The Town Board had planned to move forward with the $40 million sale of town-owned land at Enterprise Park at Calverton to support Luminati’s plan for building “unmanned aerial vehicles” that can beam wireless internet back to earth.