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Technology incubator moves HQ to DeKalb County – WISH-TV | Indianapolis News | Indiana Weather

AUBURN, Ind. (Inside INdiana Business) – Perpetual Industries Inc. has relocated its headquarters to Auburn. The company, which calls itself an incubator for the development of new and innovative energy-efficient technologies, is investing up to $ 40 million in the facility and plans to create around 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 conduct a large-scale expansion of the Bitcoin mining center for its cryptocurrency division.

“We have seen significant growth in the operations of our divisions over the past few years,” said Chief Executive Officer Brent Bedford in a press release. “It made sense to expand our space to maximize the company’s return on investment and take advantage of the fast-growing blockchain ecosystem with our data center expansion.”

Perpetual Industries operates several businesses, some of which are based on XYO Mechanical Balancing Technology, which is designed to eliminate vibrations in rotating equipment such as wind turbines and washing machines. Other divisions focus on cryptocurrency mining and blockchain applications.