Perpetual Industries Inc. has relocated its corporate headquarters to Auburn. The company, which describes itself as an incubator for the development of new and innovative energy-efficient technologies, is investing up to $40 million in the facility with plans to create about 20 jobs.
The company says the 22,000-square-foot facility will provide more space for research and development efforts, as well as room to execute a large-scale Bitcoin mining center expansion for its cryptocurrency division.
“We have seen significant growth in the operation of our divisions over the past couple of years,” Chief Executive Officer Brent Bedford said in a news release. “It made sense to increase our space to maximize the Company’s return on assets and capitalize on the fast-growing blockchain ecosystem with our data center expansion.”
Perpetual Industries operates multiple divisions, some of which are centered on its XYO Mechanical Balancing Technology, which is designed to eliminate vibration in rotating equipment, such as wind turbines and washing machines. Other divisions are focused on cryptocurrency mining and blockchain applications