AUGUSTA —  The Board of Directors of the Finance Authority of Maine approved a $500,000 economic recovery loan to Geneva Wood Fuels LLC Friday.

The money is meant to help the company resume operations following an explosion at its Strong manufacturing facility in early August. When operational, the company expects to re-employ approximately 30 workers.

The 1:30 a.m. blast on Saturday, Aug. 8, occurred in a drying machine at the pellet manufacturing plant and townspeople up to three-quarters of a mile felt the concussion from it, according to the town’s fire Chief Scott Dyar.

“Even the emergency dispatcher said they heard it, before the calls started coming in,” Dyar said a day after the mishap.

Three employees were in the building at the time of the explosion and another was outside, but none of them were injured

Geneva Energies built the plant in the former Forster Manufacturing toothpick mill in 2008.

The plant should produce up a 140,000 tons of wood pellets per year. It first became operational in March.

“FAME recognizes the importance of Geneva Wood Fuels to the Western Maine economy and is pleased to provide a bridge loan to help the mill rebuild and resume operations,” stated FAME Board Chair Kelly Matzen said in a prepared statement. “The company’s production of high-quality wood pellets is part of Maine’s energy future and especially important in the face of a looming, cold winter.”

FAME’s Economic Recovery Loan Program provides subordinate (gap) financing to assist businesses in their efforts to remain viable and/or improve productivity. In approving the loan, the FAME Board determined that a substantial public benefit will occur as a result of the action.

“We are eager to continue working with local Maine contractors and the community as a whole,” Geneva’s President and Chief Executive Officer Jonathan Kahn said.

Large windows, shattered glass and boards littered the ground outside the wood pellet plant in Strong on Saturday afternoon after an early morning explosion ripped through the interior.