CairnSpring Mills
Investment Highlights
Investment Amount
$800,000
Investment Type
Subordinated Loan
Investment Duration
5 Years
Projected Return
4.5%
Location of Job Activity
Rural
Application Processing
Priority
Total Project Cost
$53,894,104
Total EB-5 Raise
$10,400,000
Estimated Jobs
496
Job Cushion
280%
I-956F
Filed
The Future of Regenerative Flour Milling
Cairnspring Mills is a leading regenerative flour mill, pioneering a craft flour movement in the U.S. With an existing mill in Skagit Valley, Washington, the company is now developing a second mill in Northeast Oregon to meet growing demand from high-end bakeries and foodservice providers.
Regenerative flour milling
Why Invest
Cairnspring Mills is revolutionizing the U.S. flour industry with a focus on craft, sustainability, and regional farming. This investment not only supports job creation under the EB-5 program but also aligns with growing consumer demand for high-quality, traceable food products. The expansion of Cairnspring’s production capacity through the Blue Mountain Mill ensures scalability, profitability, and positive environmental impact—making it a unique, mission-driven investment opportunity.
The Current State of Modern Milling in America
Today’s flour industry is controlled by just five companies, prioritizing high-yield wheat over nutrition, flavor, or sustainability. This opaque supply chain leads to low-quality, highly processed flour that lacks traceability and nutrient density.
Why This Market is Ripe for Disruption
The U.S. has seen booming craft markets in coffee, beer, and chocolate, but flour remains underdeveloped, with craft flour accounting for less than 2% of the $63B market. With rising demand for premium, regenerative food products, Cairnspring is leading a major shift in how flour is sourced and produced.
Regenerative, Traceable, and Stone-Milled Flour 🌾
Unlike industrial mills, Cairnspring partners with regional farmers, using stone milling to retain essential nutrients. The result? Unparalleled flavor, superior nutrition, and a truly sustainable supply chain.
Innovative Milling for Maximum Quality
Cairnspring blends traditional stone milling techniques with modern quality control to ensure consistent, high-performance flour for top bakeries and chefs.
Historical Revenue Growth
Cairnspring has seen consistent year-over-year growth, reaching $6.1M in revenue in 2024, with a 42% gross profit margin. Demand is outpacing supply, driving the need for a new mill.
Scaling to Meet Demand with a State-of-the-Art Facility
To triple production capacity, Cairnspring is building a second mill in Northeast Oregon. The new mill was designed to optimize efficiency and scale and is strategically located to source grain more effectively while reducing transportation costs.
The Cairnspring Difference
Our traceable supply chain is focused on flavor and performance. We demonstrate that, like wine, grain exhibits terroir and our operation is specifically designed to showcase our unique varietals and local terroir.
Shovel-Ready Site with Favorable Lease Terms
Cairnspring secured a 50-year lease with the Umatilla Indian Reservation, ensuring long-term stability while creating economic benefits for the local community.
Deployment of Capital for Blue Mountain Mill
The $57M budget is funded through secured debt from Steward, equity investment, and EB-5 financing, ensuring a sustainable and strategic expansion.
Path to Continued Expansion Across the US
Following the Oregon expansion, Cairnspring plans to open additional mills in Maryland (2029) and Colorado (2033), ensuring national reach and scalability.
Scaling to Over $100M in Revenue
With the new mill, revenue is expected to increase from $6.1M in 2024 to $118M by 2033, with growth driven by wholesale bulk sales to bakeries & distributors, branded retail flour expansion (DTC & grocery stores), and private label partnerships (e.g., King Arthur Baking).
Collaborating With Industry Leaders
In addition to our expert project team, Cairnspring Mills collaborates with strategic partners who bring industry expertise, financial backing, and operational support to ensure the success of the Blue Mountain Mill expansion.
Team
Kevin Morse
Founder & CEO
Farmer, rural economic development executive, community leader and conservationist. Pioneered innovative market based working lands strategies at The Nature Conservancy.
Francisco Mantilla
COO
20 years experience overseeing regenerative projects and infrastructure development. Former CEO of Runa Latin America and Head of Latin America for EarthWorm Foundation. Universidad de San Francisco de Quito MBA.
Tyler Gage
Chief Financial Officer
18 years of experience as CFO and CEO with a track record of scaling high-growth companies and regenerative supply chains. Expert in complex capital structuring for impact ventures and has facilitated over $400MM in financing and M&A transactions. Brown undergrad and Wharton MBA
Josey Steeples
Blue Mountain Plant Manager
Josey brings over 10 years of experience managing plant operations and capital projects for large milling companies including Grain Craft in Pendleton, Oregon and Ardent Mills.
Katie Rigg
Director of Sales
Over 20 years in the food industry with a focus on Baking and Pastry including restaurants, tech, bakery, catering and weddings. Over 5 years in food distribution sales running the West Coast Pastry division of a publicly traded company equaling over $220MM in annual revenue.
Dave Binczewski
Skagit Mill Production Manager
Farming and agricultural production operations. Pioneered and scaled a new propagation technique for global timber bamboo supplier and built their commercial greenhouse operation. ProVitro Biosciences, Sakata Seed.
Manuela Phillips
Controller
Manuela brings 15 years of experience of finance and accounting management for high-growth food companies and large multinationals including Nestle.
Strengths
EB-5 Job Creation
Targeting a raise of $10.4M–$20.8M, with an estimated 496 jobs—well above EB-5 job creation requirements.
Timeline & Financial Forecast
Construction begins in Q3 2025, with operations starting in Q3 2026. Projected revenue reaches $40.4M by 2027, with EBITDA of $7.6M and $11.9M by 2029.
Experienced Management
Led by experienced operators in craft flour, regenerative agriculture, and mid-scale stone milling.
Commercial Partnerships
Supplying top U.S. bakeries, including Tartine, Macrina, and Grand Central, which pay a premium for Cairnspring’s flour.
Craft Flour Brand
Cairnspring is a U.S. craft flour producer positioned to meet rising demand for artisanal and farm-to-fork ingredients.
Local Supply Chain
Focuses on local sourcing and strong relationships with farmers to support community-based agriculture.
Disclosure
This is not an offer to buy or sell securities, which is done by offering memorandum or prospectus only. All investments involve risk. You may lose part or all of your investment. This is not a recommendation, investment advice, or solicitation to sell or buy securities and is not provided in a fiduciary capacity. It does not account for specific investor objectives or circumstances or suggest a course of action. Investment decisions should be made based on an investor’s objectives and circumstances and in consultation with their advisors. This material may contain forward-looking statements that are not guarantees of future performance; actual results may differ from any forward-looking statements. This content is not tax advice; prospective investors should confer with a tax advisor for tax advice. Securities offered through Pinnacle Capital Securities, LLC, Broker-Dealer, member FINRA/SIPC. EB5 Marketplace and Pinnacle Capital Securities are separate, unaffiliated entities.
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