The North Dakota Department of Commerce announced today that the Innovation Technology Loan Fund (LIFT) Committee awarded a total of $1 million to two companies for the month of July.
“The LIFT Committee continues to meet monthly to review applications and award funding,” Commerce Head of Investments and Innovation Shayden Akason said. “The innovation loan fund currently has over $4.8 million remaining to be awarded this biennium. Eligible companies may apply at belegendary.link/LIFT.”
July LIFT recipients:
Dakota Energy Systems, a company that is establishing their presence in North Dakota through a hydro-electric power system using pressurized flow in pipes was awarded $500,000.
Vigilant Aerospace, an unmanned aircraft systems company in Grand Forks that focuses on detect and avoid software for beyond visual line of sight was awarded $500,000 contingent on a 1:1 match from non-debt sources, and that the majority of the dollars be spent within North Dakota.
For more information, please visit belegendary.link/LIFT.
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The North Dakota Department of Commerce works to improve the quality of life for North Dakota citizens by leading efforts to attract, retain and expand wealth. Commerce serves businesses and communities statewide through committed people and partners who offer valuable programs and dynamic services.