The North Dakota Department of Commerce announced that the Legacy Investment for Technology (LIFT) program has awarded a $1 million loan to Trilogy LLC, a North Dakota-based company that developed the Sand Titan, a high-performance sand separator for the oil and gas industry.
“The LIFT program is a vital resource for fostering innovation and supporting North Dakota’s oil and gas industry,” said Commerce Economic Development & Finance Deputy Director and Head of Investments and Innovation Shayden Akason. “This funding highlights our commitment to supporting North Dakota businesses that drive economic impact in our core industries and create lasting impact across the state.”
LIFT is an innovation loan fund that supports technology advancement by providing financing for the commercialization of intellectual property within North Dakota. The loan funds are available to enhance capacity and, when possible, leverage state, federal and private sources of funding.
Since its inception, the LIFT program has awarded more than $45 million across 72 projects, with an average award of approximately $635,000. These investments span sectors such as health care, agriculture technology, energy, and advanced computing, demonstrating the program’s broad impact on North Dakota’s innovation economy.
Commerce works with the Bank of North Dakota to manage and administer the loan fund. LIFT loan terms include 0% interest for the first three years, 2% interest for the next two years, and a standard Bank of North Dakota loan rate for all subsequent years. The program is open to North Dakota companies working in advanced computing and data management, agriculture technology, autonomous and unmanned vehicles and technologies, energy, health care, value-added agriculture, value-added energy, and any area specifically identified by the LIFT committee as contributing to the diversification of the state’s economy.
For more information, application guidelines and program details, visit https://belegendary.link/LIFT.