Commerce Department awards funding for natural gas project
BISMARCK – Bakken Midstream Natural Gas LLC has been approved for a $100,000 investment through the North Dakota Development Fund, the North Dakota Department of Commerce announced Wednesday. The Commerce Department also awarded the company $100,000 from the New Venture Capital Program through the Bank of North Dakota.
The mission of Bakken Midstream is to develop and own infrastructure that will make North Dakota a world-class leader in value-added natural gas products.
The North Dakota Development Fund was created in 1991 as an economic development tool. It provides flexible funding through debt and equity investments for new or expanding North Dakota primary sector businesses.
The Bank of North Dakota’s New Venture Capital Program, managed by the North Dakota Development Fund, is an innovative financial program that provides flexible financing through debt and equity investments for new or expanding businesses in the state of North Dakota.