PRESS RELEASE: PROJECT 321 Inc.
We are excited to announce that Project 321 is under new ownership and moving north to Canada!Here is what you need to know:
• Project 321 Inc., a newly created stand-alone Canadian entity, has acquired the Project 321 brand and its hub related assets;
• Project 321 Inc. has the capacity and ambition to scale into an industry leading cycling component manufacturer that will focus on OEM, aftermarket, and direct sales;
• A Generation 3 (“G3”) Project 321 hub is currently being tested and its official release date will be announced this quarter.
• The Generation 2 (“G2”) hub has been discontinued and is no longer available for sale; and
• Existing warranties will be honoured, and spare parts and service will continue to be available.G3 hub teaser shots. PROJECT 321 TIMELINE Early Days
Project 321 was founded 17 years ago by Jake Liles in Fresno, California, and initially produced motorcycle gas caps. The foray into bicycle components began in 2005 with the development of Lefty fork adapters. Bicycle hub manufacturing started in 2011, initially utilizing drive rings and pawls sourced from Industry Nine.
Project 321 introduced its magnet-actuated pawl hubs in January of 2017 with the launch of the G2 Hub. The G2 was equipped with a class-leading 216 points of engagement and unique optionality for both quiet and loud driver configuration. Overall, the G2 offered a compelling combination of high-engagement and low-drag, quickly developing a reputation for outstanding performance and reliability. In late 2017, Jake moved shop from Fresno to Bend, Oregon. The move enabled him to increase quality and production capacity by bringing nearly all manufacturing in-house. In the years following, Jake and his partner Sam grew Project 321 into an internationally recognized brand with a dedicated following. G3 Hub and Stan's
With over five years of experience manufacturing and refining the G2 hub design, Jake was confident that any issue observed in the field with early versions had been addressed with running design changes; the G2 was now tested and proven. True to his nature, Jake got restless and started thinking of a new and improved G3. Around the same time, Stan’s No Tubes approached Project 321 for help developing a rear hub, and Jake went to work on a new design. Ownership Transition and Moving North
With the launch of the Stan’s MPluse hub (which includes several G3 components manufactured by Project 321), the global increase demand for cycling components, and the commitments of a growing family, Jake and Sam started to feel that it might be time to start to look to transition Project 321. Around this time, Jake was introduced to Bryden Richardson, the CEO of a precision manufacturing company that was exploring the idea of designing and manufacturing bicycle hubs.
It’s funny how the world can work, as they both had exactly what the other was looking for. Jake had a strong brand and a product known for quality and reliability. Bryden and his team had experience scaling businesses in precision manufacturing (North Arc Precision) and sporting goods components (TriggerTech). TriggerTech was founded in 2013 and has grown to become an industry leading supplier of trigger components to OEMs, aftermarket, and consumers in the firearms and crossbow space. To meet the growing needs of TriggerTech, North Arc Precision was created to act as a stand-alone precision manufacturing business with specific expertise in Wire EDM fabrication, CNC machining and complex assembly processes. North Arc Precision has the capacity and expertise to meet Project 321’s growing manufacturing needs on day one.
Research quickly turned to negotiations and after a few months Project 321 Inc. was formed as a stand-alone entity to acquire the brand and hub-related assets from Jake and Sam’s holding company, JLSO Inc. Gearing up for Canadian Production.What is Next?
Project 321 is moving all operations to a 42,000 square foot manufacturing facility in Mississauga, Ontario. From Canada, Project 321 will have the capacity and ambition to scale into an industry leading cycling component manufacturer that will supply OEMs, wholesalers, wheel builders, retail shops, and consumers directly.
A brand-new G3 hub is currently in is in the final stages of testing and its official release date will be announced this quarter.
G2 hub production has been discontinued, but service and spare parts will continue to be available. All existing warranties will be honored from the new Canadian headquarters. A NOTE FROM JAKE AND SAM