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Montana Renewables to Expand Renewable Energy Facility

Washington Patent of the Month - August 2021

Montana Renewables, a part of Calumet Inc., has secured a $1.44 billion loan guarantee from the Department of Energy (DOE). The funding will support the company as they expand their Great Falls facility, achieving the status of the largest producer of sustainable aviation fuel worldwide.

The renewable energy firm uses waste feedstock to produce low-emission alternatives like renewable hydrogen, diesel, and sustainable aviation fuel (SAF). The company plans to substantially increase its SAF production by 300 million gallons annually by 2028.

This expansion is set for completion by 2028, aligning with national efforts to transition from fossil fuels.

The loan will be released in two phases, starting with $778 million expected to close by the end of this year. The expansion will include:

Building a new renewable fuels reactor
Increasing renewable hydrogen production
Adding SAF blending and logistics assets

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Solubag Bags $4.5M in Series A Funding

Solubag, a South Florida startup, has secured $4.5 million in Series A funding for their water soluble alternative to single-use plastic. The round was led by Exit Ventures with participation from Between the Coasts Ventures, Landon Ainge, a confidential customer, and others.

The plastic free bags utilize a material similar to that used in dissolvable medication tablets – like a gel cap. This material readily dissolves in contact with water without leaving any toxic or polluting residues behind.

The technology could be used for grocery bags, pet waste bags, utensils and more. The company says its products require no recycling or separation from other waste, as they dissolve in water or soil within weeks or months. The products are certified food-grade, with raw materials that have a long history of food safety.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Gevo Secures $1.46B for Sustainable Fuel Project

Gevo, an advanced renewable energy firm, has secured funding for its Net-Zero 1 (NZ1) sustainable aviation fuel project in South Dakota from the US Department of Energy (DOE) Loan Programs office (LPO). The LPO has granted conditional commitment for a loan guarantee totaling $1.46 billion, excluding capitalized interest during construction.

The NZ1 facility, located in Lake Preston, South Dakota, is poised to become the world’s first large-scale net-zero-emissions alcohol-to-jet (ATJ) production facility. Gevo plans to use entirely U.S. sourced feedstocks to produce sustainable aviation fuel (SAF), protein, animal feed products, and corn oil.

Gevo’s ATJ process will provide a non-fossil-based alternative jet fuel for commercial use. The DOE’s conditional commitment is a major milestone for NZ1, signaling the project’s potential to create significant economic benefits and drive job growth in South Dakota.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

ePropelled Unleashed the Falcon

ePropelled, a New Hampshire – based propulsion firm, has announced the availability of its USA-assembled Falcon product line. The Falcon series provides compact propulsion systems from 1kW to 20kW to meet the demands of diverse uncrewed aerial vehicle (UAV) applications.

The company is focused on building magnetic innovations to advance electric motor technology. Their new Falcon products consist of five electric propulsion motors, five intelligent motor controllers (up to 98% efficient), and a powerful and intelligent electronic engine starter motor controller adept for hybrid UAV power requirements.

The industry has seen a growing demand for electric propulsion systems. This has been compounded by China’s regulators recently restricting Chinese manufacturers from exporting UAV propulsion components exceeding 16kW. ePropelled plans to fill this missing market gap, providing non-China supplied UAV component alternatives.

Nick Grewal, CEO of ePropelled, says, “Our Falcon product line exemplifies ePropelled’s commitment to innovation and excellence in propulsion technology. By offering power options from 1kW to 20kW — alongside our ePConnected™ protocol for comprehensive control, instrumentation, and data-sharing services — Falcon delivers unparalleled performance and efficiency. ePropelled delivers cutting-edge drone solutions that not only meet the most stringent technical requirements, but also help our customers stay ahead of compliance challenges with products assembled in the USA.”

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Oshi Health Secures $60M in Series C Funding

Michigan Patent of the Month - July 2021

New York-based Oshi Health, a digital GI health company, has secured $60 million in Series C funding. The round was led by Oak HC/FT with participation from CVS Health Ventures, Flare Capital Partners, Takeda Digital Ventures, Bessemer Venture Partners and First Cressey Ventures.

The company plans to use the funding to continue developing solutions for patients with gastrointestinal (GI) issues. Their approach? Connecting these patients virtually to a team of providers including a gastroenterologist, behavioral health clinician, dietitian, and health coach.

The company supports patients with Crohn’s Disease, irritable bowel syndrome (IBS) and ulcerative colitis. It also offers a symptom-tracking tool and instant messaging with providers.

The company was founded in 2020, quickly pulling in $23 million in Series A funding. In 2023, an additional $30 million in Series B funding was secured alongside a partnership with CVS Health. These moves have enabled Oshi to deliver their virtual GI support platform as an in-network provider in select states.

In addition to further development, Oshi will use the funds to expand its partnerships with provider groups and new employers. It will also work to grow its coverage among payers and expand into Medicare populations starting in 2025.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Wabash Secures $1.6M in Grants to Decarbonize Commercial Transportation

Wabash has partnered with the University of Delaware’s Center for Composite Materials to decarbonize the commercial transportation industry. Alongside the partnership, Wabash has secured a $1.6 million grant award from the U.S. Department of Energy Solar Energy Technologies Office (SETO).

Wabash is planning a three year project focused on integrating high-efficiency solar energy into refrigerated trailers and truck bodies. If successful, it could be an important component in making zero-emission mid-mile transportation a commercially viable option.

“This project has the potential to revolutionize refrigerated transport by reducing reliance on the electrical grid and minimizing overall emissions,” said Michael Bodey, director of technology discovery and innovation at Wabash. “While many of today’s zero-emission products focus on tailpipe emissions, they still draw power from energy grids, which often rely on non-renewable sources. Our goal is to offer a truly green solution—a well-to-wheel approach—that accounts for the full life cycle of energy consumption, from production to usage.”

Wabash will use its proprietary EcoNex™ Technology, a composite material designed to enhance thermal efficiency and reduce energy consumption, while the University of Delaware will contribute its proprietary TuFF technology, which utilizes recycled aerospace-grade carbon fiber, to strengthen and lighten the trailers and truck bodies.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Love Lifesciences Announces Strategic Partnership for their UniPen

Love Lifesciences has announced a new strategic partnership with Alliance for Pharmacy Compounding (APC) – a leading trade organization.

The partnership will support Love Lifesciences as they bring their flagship product to market, bringing a safe, self-administered injection tool to innovation-first companies. Their product, UniPen, is a versatile safety injection device designed for a wide range of self-administered injectable therapies, including such popular treatments as GLP-1 agonists, testosterone, and other injectables commonly produced by compounding pharmacies.

Love Lifesciences will provide APC member pharmacies access to UniPen at industry-best pricing, said Love, CEO and co-founder of the company alongside Bradley Hopper.

APC was particularly interested in Love Lifesciences’ design as they created an agnostic injection pen. Without any specific purpose in mind, the device has great potential for compounding pharmacies.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Salad Days Hydroponic Farm Secures $8.5M in Expansion Funds

Salad Days Hydroponic Farm, based in Flora, has secured $8.5 million in funding to support their expansion. The hydroponic farm is planning to expand their facility by an additional 65,000 sq ft.

The new facility will include an automated greenhouse which will add at least 20 new full time positions.

The expansion was necessitated volume of interest in the business, which provides its popular pesticide-free lettuce to a multitude of restaurants and other business in an area of about 200 miles around Flora.

What they do is called indoor hydroponic farming and is referred to as Controlled Environment Agriculture. As a result of the expansion, Salad Days will be able to increase production volume eight times over current levels and will enable them to adequately supply the larger grocery chains and regional produce distributors.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Rivermark Medical Brings in $30M in Series C Funding

Rivermark Medical, a Milwaukee startup, has secured $30 million in Series C funding. The round was led by American Century Investments and included participation from Venture Investors Health Fund, Time BioVentures, and an unnamed strategic investor, with follow-on participation from existing investors View Ventures, Cadence Healthcare Ventures, and Anduril Investors LLC.

The clinical research startup plans to use the funds to continue their clinical development efforts, specifically for their flagship product – FloStent™ System. FloStent is a minimally invasive treatment option for Benign Prostatic Hyperplasia (BPH). With minimal invasion, a patient can have restored urinary function with a reduced recovery time.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Form Energy Secures $405M for New Battery Plant

Form Energy, Inc. has secured $405 million in new funding to support the opening of its first factory in Weirton, West Virginia and continue research and development. The round was led by T. Rowe Price with participation from GE Vernova.

Form Energy has developed novel energy storage technology, building a proprietary iron-air battery. Their solution can store electricity for 100 hours with plans to make their multi-day battery the base of a reformed global electricity grid.

Manufacturing long-duration energy storage at a commercial scale is seen as essential for lowering carbon emissions that are causing climate change. The difference being that scaled clean energy is not reliant on a shining sun or strong winds.

These scalable batteries outperform lithium batteries by 25 times. A standard lithium battery will typically last four hours.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.