Perpetual Industries

Perpetual Industries of Auburn has moved its headquarters into this renovated building next to Kruse Plaza, southwest of Auburn.

AUBURN — Perpetual Industries announced Tuesday that it has moved into its new corporate headquarters southwest of Auburn.

The 22,000-square-foot, newly renovated building stands next to Kruse Plaza and the Early Ford V-8 Foundation buildings on the west side of Interstate 69, north of C.R. 11-A.

Perpetual Industries moved its operations from Alberta, Canada, to Kruse Plaza in 2019.

In February, Perpetual acquired Worldwide Auctioneers of Auburn, also housed in Kruse Plaza. A collector car auction company founded by John Kruse of Auburn and Rod Egan, Worldwide continues to operate independently under their leadership as a wholly owned subsidiary of Perpetual.

John Kruse is a co-owner of Kruse Plaza, which occupies the building that originally housed the Kruse Museums of collector cars and World War II history.

Perpetual’s new home originally was built by museums founder Dean V. Kruse to house a museum of memorabilia for auto racing legend Andy Granatelli. When the late Mr. Granatelli did not complete his plans for a museum, the structure for a while became the home for an antiques and auction business before its recent renovation.

In a news release, Perpetual described its home base of Auburn as “a hotbed for manufacturing and technology with access to abundant power sources.”

“We have seen significant growth in the operation of our divisions over the past couple of years. It made sense to increase our space to maximize the company’s return on assets and capitalize on the fast-growing blockchain ecosystem with our data center expansion,” said Perpetual Industries CEO Brent Bedford.

Perpetual describes itself as “an incubator for the development of new and innovative energy-efficient technologies.” Its website says the company’s mission is to “perpetuate industry” by bringing value-added technologies to market.

“At the company’s core is a proprietary technology known as the XYO Mechanical Balancing Technology, designed specifically to dynamically eliminate vibration in rotating equipment to create energy-efficient, environmentally responsible products,” Perpetual’s website says.

Perpetual also is developing “low-cost, green-energy-powered solutions for a variety of industries, including renewable energy, blockchain mining, artificial intelligence, graphic rendering, internet of things and cloud computing.”

Perpetual’s website says one of its goals is to “advance and integrate green-energy power sources such as solar, wind, and hydro into computer processing to lessen the environmental impact and cost of power consumed by miners in the fast-emerging global decentralized Blockchain industry.”

On June 22, the company activated an array of 847 solar panels installed on a portion of the massive roof of Kruse Plaza.

“We’re going to show the world how to mine environmentally responsibly” for crypto-currency, which requires large quantities of electricity, Bedford said at the time.

Over Labor Day weekend, Perpetual launched its AutoGrafic Software division, developed for car enthusiasts in partnership with Travis LaVine and Jason Stoller of LaVine Restorations in Nappanee. Classic cars restored by LaVine Restorations have won numerous awards at the Auburn Cord Duesenberg Club reunion in Auburn and other prestigious car shows across the nation.

Perpetual says AutoGrafic uses “cutting-edge technology to host a myriad of features for automotive promotion and preservation” — including collection management, social events, car auctions, insurance, research, preservation and historical documentation.

In August, Perpetual released its financial results for the first six months of 2021, including Revenues of $2,678,361 and gross profits of $1,102,822.

The company’s stock trades on the OTC Markets under the symbol PRPI. At midday Tuesday, it was trading for 29.8 cents per share, up 2.76% for the day.

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