<< All News Thursday, May 30, 2024 - 01:45 am

The North Dakota Department of Commerce Legacy Investment for Technology Loan Fund (LIFT) Committee announced today it awarded a total of $1,500,000 in funding this month and exhausted its available funds. The program is not currently accepting applications.

“We thank the committee members for their time serving on the LIFT Committee” said Commerce Head of Investments Shayden Akason. “We could not deliver such an impactful program to the state of North Dakota without their expertise."

May LIFT recipients:

  • Blue Water Resolute (BWR) Innovations - $750,000 awarded to this Fargo based company developing hydrogen fuel cell microgrid technology. 
  • Verdethos, Inc. - $750,000 awarded to this supply chain management platform that addresses the challenges of sustainability, automation, and compliance providing source to shelf traceability of raw materials.

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 of the loan, and 2% interest for the next two years, and an interest rate equal to a standard Bank of North Dakota loan 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 grant program details, visit https://belegendary.link/LIFT.  

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