PrairieChar Is Awarded Kansas Angel Tax Credits
Lawrence, Kansas – April 24, 2018 -- PrairieChar, Inc., developer of an innovative approach to converting animal manure into valuable products, today announced that it has been awarded $300,000 of Angel Tax Credits by the Kansas Department of Commerce. The purpose of the Kansas Angel Investor Tax Credit act is to facilitate the availability of equity investment in Kansas businesses in the early stages of commercial development, and to assist in the creation and expansion of those businesses. Since 2006, the program has offered accredited investors a 50 percent tax credit on cash investments in a qualified Kansas business, helping to mitigate risk and encourage investment. The program is designed to help innovative Kansas businesses in the early stages of financing and promote job growth in Kansas. More information about the program is available at www.kansasangels.com. “It can be very challenging for early stage companies to obtain needed equity financing. The Kansas Angel Tax Credit program offers tremendous support in the fundraising process and is a credit to the foresight of Kansas lawmakers,” said PrairieChar CEO Robert Herrington. “The overarching mission of the Kansas Department of Commerce is to empower businesses to achieve prosperity in Kansas, and for many startup companies the greatest hurdle is attracting equity investments. To help startups minimize this hurdle, our agency provides tax credits to angel investors, and PrairieChar has qualified for these tax credits. We are very excited for PrairieChar and wish them the best as they pursue success and prosperity in the State of Kansas,” said Bob North, Kansas Interim Secretary of Commerce.
About PrairieChar, Inc.
PrairieChar, Inc. provides an attractive solution for the management of environmentally hazardous feedlot animal manure and produces profitable and renewable dry organic fertilizer for the agricultural market that is cost competitive without subsidy. PrairieChar, Inc. offices are located in the Bioscience & Technology Business Center, 2029 Becker Drive, Lawrence, KS 66047. Inquiries may be directed to Robert Herrington, CEO at rherrington@prairiechar.com. www.PrairieChar.com.