Renewable Innovations, Inc. announced funding pursuant to a Secured Loan Agreement with Mortgage Investment Trust of Utah dated October 2, 2023. Pursuant to Loan Agreement, MIT has agreed to loan company up to $500,000. On October 5, 2023, MIT made the first advance to use of $195,000.

The loan is secured by all of assets pursuant to a Security Agreement. The obligation is due in full on January 2, 2024. The proceeds from the loan will be used for general working capital purposes.