PrairieChar, Inc., developer of an innovative approach to converting animal manure into valuable products, was one of the companies awarded Angel Tax Credits by the Kansas Department of Commerce in 2018.
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
“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.