Daniel Preston

The billionaire businessman's representative was critical of the town's slow pace and negotiating posture.

Luminati CEO Daniel Preston held one-on-one meetings with three council members today. The meeting changed Councilman John Dunleavy's mind about canceling the town's letter of intent wth the Calverton aerospace startup.

The billionaire grocery store and petroleum company mogul says he has deep roots and interest in aviation, and is very excited by Luminati’s development plans at the Calverton Enterprise Park.

Council members Tim Hubbard, Jodi Giglio and John Dunleavy say the town should cancel the letter of intent Riverhead Town signed with Luminati Aerospace in April.

Daniel Preston, who founded Luminati Aerospace in 2015 and is looking to buy the Town of Riverhead's land in the Calverton Enterprise Park, was fired by the previous aerospace company he founded in 2001 after he sold a controlling interest in the company to investors.

The Calverton aerospace start-up announced commencement of operations at a public event Friday, in the absence of its previously heralded 'dream team' or the 'Team Stratos' it promised to introduce.

Luminati's ultralight aircraft, capable of perpetual flight — being developed to bring internet connectivity to unserved regions of the world — also has "obvious" military applications for intelligence, surveillance and reconnaissance purposes. The company, now readying to move into a much larger facility at EPCAL, will seek defense contracts, its founder said.

Aeronautical engineer Daniel Preston has plans to return the Long Island aerospace industry to its former place of glory from the Calverton site that was once its epicenter.