TIME lists the Fervo Energy FervoFlex system, Torus Nova Spin and WNDR Alpine Shepherd snowboard among the Best Inventions of 2024.
Rio Tinto transitions its Kennecott copper mine in Utah to renewable diesel for all heavy mining equipment, achieving one of the lowest carbon footprints among U.S. copper producers.
Sky Quarry Inc. begins trading on NASDAQ under the ticker “SKYQ,” following a $6.7M public offering of 1,118,005 shares at $6.00 each.
The 1908 Union Pacific Depot reopens as the Asher Adams, Autograph Collection hotel. The transformation preserves the landmark’s French Second Empire architecture while adding an eight-story tower with 225 rooms, four upscale dining venues and 20,000 square feet of event space.
The University of Utah launches the Applied Medical Engineering Lab. The Lab has already invested over $1M in research projects that can detect kidney injuries, treat heart attacks and replace lost limbs with robotic arms.
PCF Insurance Services rebrands to Trucordia.
Kinetic partners with Young Automotive Group to launch its first digital repair hub in Clearfield using AI and robotics for precision vehicle repair.
Williams, an energy infrastructure company that moves one-third of the nation’s natural gas, opens a new office in Salt Lake City.
Fervo Energy, Southern Utah University, and Elemental Impact launch a geothermal apprenticeship program in Cedar City to transition oil and gas workers into the geothermal industry.
The Utah Transit Authority (UTA) contracts with Utah-based Stadler to procure up to 80 new light rail cars for the TRAX Modernization project.
The Salt Lake City Department of Airports unveils Phase 3 of The New SLC Redevelopment Program, featuring the Central Tunnel, Concourse B Plaza, and five new Delta gates.
DigiCert launches Common Mark Certificates, which enable organizations to display their logos in recipient email inboxes without requiring registered trademarks. This innovation addresses the $43 billion identity fraud crisis while expanding email authentication technology previously limited to trademark holders.
LVT expands its security technology capabilities with advanced satellite connectivity, enabling businesses to maintain 24/7 surveillance even in remote locations or during high-traffic events when cellular networks become overwhelmed.
Saras AI Institute in Salt Lake City launches the nation’s first AI-focused associate and bachelor’s degree programs.
Avelo Airlines introduces nonstop service from Salt Lake City to Sonoma County, and American Airlines launches direct flights to Provo Airport from Dallas-Fort Worth International Airport and Phoenix Sky Harbor International Airport.
Clean Simple Eats expands into over 650+ Target stores across the country and on Target.com.
Smith Entertainment Group launches the SEG Foundation. Funded by the Utah Jazz, Utah Hockey Club, and Delta Center, the foundation partners with local groups to provide resources and support, beginning with fulfilling 100 teacher wish lists statewide.
Miller Sports + Entertainment announces a new Megaplex Entertainment center at The Paseo in St. George, Utah.
Utah Valley University opens a new dental hygiene lab and community clinic on its Lehi Campus. The facility will train dental hygienists and offer free or low-cost services to around 3,000 low-income individuals.
Real Salt Lake Stadium hosts “Game On: Tech Meets Soccer,” a collaboration with Utah Royals and Comcast NBCUniversal + Xfinity that offers Utah youth a unique opportunity to explore sports technology and careers in STEAM fields.
Lennar expands into St. George, Utah.
Rio Tinto completes the transition from conventional to renewable diesel for all heavy mining equipment at its Kennecott copper mine, giving the mine one of the lowest carbon footprints of any copper producer in the U.S.
The Utah Department of Agriculture and Food (UDAF) awards $1M to 21 recipients across the state through the 2024 Utah Food Security Processing Grant. This initiative strengthens Utah’s food supply chain by expanding processing for meat, poultry, fruit and vegetables, ultimately boosting food security statewide.
The USDA invests $745,342 in clean energy projects for five Utah companies via the Rural Energy for America Program (REAP), supported by the Inflation Reduction Act: Archway Inn in Moab, Days Inn in Torrey, S & S Livestock LLC in Palmyra, Spitfire Smokehouse BBQ in Moab and Thousand Lake Lodge Holdings in Lyman
FUNDING
| Recipient | Funding Amount | Led By |
|---|---|---|
| Vanilla | $35M | Insight Partners |
| Voze | $12M, Series A | Origin Ventures |
| Vozzi | $7M | Growth Street Partners |
| Paterna BioSciences | $6M, Seed | SpringTide Ventures |
| Ednition | $3.5M, Seed | GSV Ventures |
| Final Boss Sour | $3M, Seed | Science |
| Data Quality Co-Op (DQC) | $1.25M | Kickstart Fund |
M&A ACTIVITY
Mergers
- Autura merges with Traxero
Acquisitions by Utah companies
- Canyon Labs acquires Life Pack Labs
- Grote Company acquires SPI Automation
- MyCredibility acquires FreelanceClients.co
- Nearmap acquires Tensorflight
- OptConnect acquires Capestone
- Sunroc Corporation acquires Edge Excavation and Edge Trucking
Acquisitions of Utah companies
- Advanced Care Group acquires 3D Medical Staffing
- Blue Marlin Partners LLC & Trive Capital acquire the majority stake in Mo’ Bettahs Hawaiian Style Food
- CECO Environmental acquires Profire Energy
- Hyperquake acquires MarCore Group
- IsoEnergy acquires Anfield, including the Shootaring Canyon Mill
- Pioneer Accounting Group acquires Universal Business Computing Company
- Pye-Barker Fire & Safety acquires PEAK Alarm Company
- ShareWillow acquires Plentive
- SM Energy completes Uinta Basin acquisitions
- Stax Payments acquires BlockChyp
- The Grote Company acquires SPI Automation
