BISMARCK – The North Dakota Department of Commerce Legacy Investment for Technology Loan Fund (LIFT) Committee awarded $1.25 million in April.

Blue Rock Solutions, dba Blue Comply, of Fargo, was awarded $250,000 for its wireless Internet of Things Methane Sensing Apparatus, used to monitor fugitive methane emissions from oil and gas storage tank thief hatches.

Valence Natural Gas Solutions of Williston was awarded $1 million to complete a fully mobile and modular flare gas capture platform that allows oil and gas producers to use flared gas to fuel their operations, which is cleaner than burning diesel fuel.

“We anticipate the LIFT Committee will exhaust its available funds soon,” said Shayden Akason, head of Investments and Innovation in the state Department of Commerce. “The LIFT fund was appropriated $10 million this biennium from the 2023 legislative assembly, and there remains approximately $1.52 million yet to be awarded.” 

LIFT loan terms include no interest for the first three years, 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.