Lunar Resources to build new $85 million factory in Salt Lake County, Utah

Lunar Resources, an industrial technology startup, will build a new factory in Salt Lake County. According to a release from the Utah Governor’s Office of Economic Development, the company plans to invest $85 million over the next decade in a plant for its HELIX-1 power infrastructure product, with plans to eventually employ 400 people.

According to a GOED release, Lunar plans to build its HELIX-1 “pulsed power” device at the factory. According to the company’s website, such systems transform low voltage power into high voltage “bursts” for use in industrial and mining settings, including, aspirationally, extraction of unspecified “resources” from the Moon, Mars, and space to enable extraterrestrial colonization.

The state of Utah announced June 11 it would grant Lunar Resources a tax credit of 30%, estimating the project would eventually yield $188 million in wages and $47 million in new state tax revenue.

In a statement, GOED Commissioner Jefferson Moss said Lunar Resources’ products will create growth opportunities for the state of Utah. Lunar Resources CEO Elliot Carol praised the state’s available talent and supportive business environment.

What people are saying

“As we scale our manufacturing operations to meet growing demand for our revolutionary Helix Driver technology, finding a location that fosters innovation and growth was paramount,” said Elliot Carol, CEO of LUNAR. “Utah offers an exceptional talent pool and a highly supportive business environment that partners with companies to help ensure mutual success. We look forward to building deep roots here and continuing our mission to shape America’s next frontier on Earth and in space.”

“Lunar Resources’ proposed expansion will help elevate Utah’s position as a leader in cutting-edge manufacturing and technologies,” said Jefferson Moss, commissioner of GOED. “Their pioneering technology aligns with our future-focused mindset and will serve as a powerful economic catalyst. We are optimistic about how this groundbreaking work will create opportunities for Utahns for many years to come.”

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