Alaska Airlines and UP.Labs Launch First Startup

April 23 2018 airport

Odysee, a software platform, is the flagship startup launched by UP.Labs in partnership with Alaska Airlines in 2023. The startup launched with $5 million in seed funding led by UP.Partners.

The startup is leveraging artificial intelligence (AI) to optimize flight schedules. The company is able to run hundreds of simulations in seconds, performing stress-tests for future schedules. The idea is that the system could enable airlines to make informed real-time tradeoff decisions to improve operational logistics. The platform will ensure the best use of each aircraft asset and the interconnections between them, empowering teams to more effectively optimize one of the most complex areas of an airline’s business.

This AI-powered flight schedule optimization solution marks a significant milestone in the journey that began at last year’s UP.Summit. Last year, the two companies announced their partnership and set a vision to solve core strategic challenges for the aviation industry with new companies that help unlock the future in transportation and mobility.

“What sets Odysee apart is its ability to help airline schedulers assess the various tradeoffs that come with certain schedule changes, allowing them to make more informed choices in building comprehensive flight schedules,” says Odysee Chief Executive Officer, Steve Casley. “Our team is excited about the power and efficiency this technology will provide to Alaska Airlines and all future customers and the opportunity to continue building out its functionality.”

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.

An Arctic Oil Frontier: The History and Uncertainty of the Liberty Field Project

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BP Exploration Alaska Inc is an oil exploration company that has had a significant impact on Alaska’s oil industry, particularly through the Liberty project. The Liberty Field was discovered by Royal Dutch Shell in the 1980s and is located entirely in the federally controlled Outer Continental Shelf, in the Beaufort Sea. The field is estimated to have around 150 million barrels of recoverable oil, and BP Exploration Alaska pursued the project for two decades. Despite having an ambitious plan to develop the project by producing oil from the shore using ultra-extended-reach drilling, the company withdrew the development plan four years after sanctioning it.

The Liberty project has a long history, and its current owner, Hilcorp, is yet to decide if it will pursue the project. In late 2018, a Hilcorp development and production plan was approved by the Bureau of Ocean Energy Management (BOEM). Still, the approval was overturned by the federal 9th Circuit Court of Appeals in December 2020. The suspension of the three leases comprising the Liberty prospect is in effect for three years and stops the clock from ticking toward lease expiration, according to BOEM.

Despite the uncertainties surrounding the Liberty project, BP Exploration has had a significant impact on Alaska’s oil industry. The company’s ambitious plan to produce oil from the shore using ultra-extended-reach drilling was an example of “exploration through technology,” according to Doug Suttles, BP Alaska Exploration. President at the time. However, the plan was criticized by Mark Myers, a former Alaska Department of Natural Resources commissioner and a geologist who serves on the U.S. Arctic Research Commission.

The uncertainties surrounding the Liberty project provide a cautionary tale about the uncertainties of oil development projects. As state officials pin high hopes on ConocoPhillips’ Willow project and the revenues and jobs it will generate, the history at Liberty should be a warning to policymakers and the public about the uncertainties of oil development projects.

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.

Ocean Renewable Power Company announces plans to generate renewable energy in Alaska with Tidal Generators

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Ocean Renewable Power Company (ORPC) – who planned to build a tidal generator in Nikiski – has announced their interest in a second tidal site. The company hopes this second site can harness the strong tides in the inlet to power machinery at Port MacKenzie, across Knik Arm from Anchorage.

ORPC is familiar with Alaska’s tides and their ability to create power as they already have a freshwater hydrokinetic generator in Igiugig on the Alaska Peninsula. However, this new development will be the first generator in saltwater in Alaska. 

Merrick Jackinsky, ORPC Development Director, who’s based in Anchorage, said the generator could fully power the machine that keeps the dock at Port MacKenzie from corroding into the inlet – called a cathodic protection system. He estimates the project could create 80 kW of power for that machine.

Saltwater poses its own challenges for tidal tech and will require some extensive R&D to get it functioning as needed. The mechanisms will be similar, using the in and out motion of the tide to spin turbines which are connected to an underwater generator. This energy source could be more dependable as the tides are much more predictable than solar and wind.

Jackinsky said ORPC looked at Port MacKenzie as a project site a while ago. But at the time, there wasn’t a lot of information about the Cook Inlet belugas in the upper inlet, which is why the company turned its focus to the site in Nikiski.

 

Since then, he said, there’s been more research about the belugas there and more interest in renewables from the Matanuska-Susitna Borough, which owns the port.

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.

Astra Reaches Orbit

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California-based Astra has successfully launched their rocket into orbit from the Pacific Spaceport Complex on Alaska’s Kodiak Island. This launch was performed with a dummy payload as a test flight for the US military. 

Astra is striving to secure a large portion of the small-satellite launch market with their line rockets. These rockets have been designed to be both responsive and flexible. Astra further sets themselves apart with a launch system which can be transported in just a few standard shipping containers.

This launch was Astra’s fourth orbital test flight, and the first to successfully reach orbit. Prior iterations on the design saw complications in the guidance system, fuel capacity, and engine stability. Between each design, the company returned to the design to make modifications and improve structural integrity and chance at success.

The company plans on ramping up spaceflight action to the tune of daily launches by 2025. Astra’s ambitions extend beyond building and launching rockets. For example, the company is also developing its own satellite bus, which will allow customers to integrate their payloads into a spacecraft they don’t have to build themselves. 

Are you developing new software 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.

Alaska SBDC Announces Opening of SBIR Phase 0 Applications

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The Alaska Small Business Development Center (SBDC) has announced the opening of their 2021 Phase 0 program applications. The Alaska SBDC is home to the TREND program -Technology Research and Development Center of Alaska – which aims to help innovators and entrepreneurs through grants and funding to commercialize scalable technology.

The Phase 0 program is operated by TREND with the University of Alaska Fairbanks Established Program to Stimulate Competitive Research (EPSCoR). They provide funding for four companies whose ideas could have the potential to succeed. 

TREND will provide technical assistance and proposal writing instructions to help create a businesses commercialization plans. The Phase 0 grant of $10,000 will be awarded to the top four applicants. These top four applicants are then welcome to continue on to applying for SBIR Phase 1 and 2 grants to further their products lifeline. 

Barati Medical, LLC was one of the four winners in 2020. Their product plan involved the development of the first wireless near infrared spectroscopy device for use in preclinical monitoring of cerebral oxygenation. After receiving the Phase 0 grant and assistance from Trend, they have advanced to Phase 1 SBIR funding.

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.

Aerospace Partnership Could Mean Commercial Satellite Rocket Test Launches by 2022

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Alaska Aerospace Corporation and India-based AgniKul Cosmos have partnered to launch test rockets from the Pacific Spaceport Complex in Alaska (PSCA).

Agnikul Cosmos is developing a small rocket, called Agnibaan, that has the ability to carry 100kg satellites into low earth orbit. Currently, small satellites are carried as ‘piggyback luggage’ by bigger rockets, and thus there is significant wait time for them to be put into orbit. The Agnibaan rocket is three-engine and 18m tall, with a plug-and-play engine configuration that’s customizable for clients’ needs. The company’s idea is to move the small satellite launch market towards a customer-centric business model. It aims to be able to build a rocket in two weeks, and it be launchable from any launch site around the world; thanks to its size, it’s transportable on an 18-wheeler, and comes with a unique launch pedestal. If it’s accomplished, the end result would be easier commercial space access for everyone.

Agnikul Cosmos and Alaska Aerospace Corporation will work to secure regulatory approvals (e.g. launch licensing from the U.S. Federal Aviation Administration (FAA), U.S. export control, and the necessary clearances from Indian authorities). The aim is to explore launch vehicle-spaceport interfaces and procedures, and conduct test launches from PSCA. These launches are anticipated to occur from 2022 and onwards.

Are you developing a new invention? Did you know your R&D experiments could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? 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.’s largest Specialist R&D tax advisory firms, offering tax credibility assessments, claim preparation, and advisory services. 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 and CFPs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Alaskan Oil Field Discovery Comes Just In Time

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New Oil Field To Help Boost Alaskan Economy

A vast oil field has been discovered in the northern section of Alaska and could play a big role in increasing Alaska’s energy production industry.

Caelus Energy made the discovery about 300 miles north of the Arctic Circle and believes it could extract somewhere between 6 to 10 billion barrels of oil from the area.

“The discovery could be really exciting for the State of Alaska. It has the size and scale to play a meaningful role in sustaining the Alaskan oil business over the next three or four decades. Fiscal stability going forward is critical for a project of this magnitude,” said Jim Musselman, Caelus CEO.

The plan is to build an $800 millon 125-mile pipeline to connect with existing pipelines in other parts of Alaska.

The discovery has come just in time for the Alaskan oil industry. Without it, Alaska could be nearing a total collapse of its oil industry and economy if it doesn’t come up with a solution to prevent the continuing decline of its production efforts.

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If you are a U.S. company conducting R&D and are interested in claiming the R&D tax credit, please contact a Swanson Reed specialist.

Alaska May Be Getting the World’s First Modern Cargo Airship

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Alaska may be the home base for the world’s first modern cargo airship once the aircraft is completed by Lockheed Martin’s assembly line in 2019.

The innovative aircraft involves an Anchorage logistics company that plans to use the helium-filled airship to carry freight and workers to remote sites.

The owner of PRL Logistics said the aircraft will safely support remote Alaska resource projects while giving emergency personnel another way to save people in areas that are difficult to get to.

“We hope this brings more work to Alaska,” said Ron Hyde, founder of PRL Logistics.

PRL Logistics will supply the ground support, like loading and offloading freight in Alaska and other areas.

The aircraft is not like your standard commercial jet. It moves across the sky at 65 mph and helium will provide 80% of the lift, with help from four engines. At 285 feet, it is longer than a 747 airplane and capable of carrying 22-ton loads.

“We don’t want to oversell it and say it can do everything and anything,” said Hyde. “Like any transportation asset, it will have limitations and those will become more known. But from an engineering perspective and everything we’ve been able to assess, we think this is a dependable and reliable option to move cargo and people.”

Please contact a Swanson Reed specialist for more information on the research and development tax credit.

How Does Your State Rank on the Innovation Scale?

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Innovation Is Key

Innovation is crucial to sustainable economic growth, but for innovation to occur businesses must have both the incentive and the capacity to invest.

As innovation is key to the United States’ economy as a whole, many U.S. states are showing off while others are falling short when it comes to patents, R&D, venture capital and academics.

So which states are excelling in innovation and which ones are lacking, you ask?

Patents

The top states in patents per population include:

  1. Wisconsin
  2. Washington
  3. Texas
  4. Utah
  5. California
  6. Massachusetts

The bottom five patented states include:

  1. Alaska
  2. Mississippi
  3. Tennessee
  4. West Virginia
  5. Wyoming

Venture Capital

The top states for venture capital are:

  1. Massachusetts
  2. California
  3. Utah
  4. Washington
  5. Colorado

The lowest are:

  1. Arkansas
  2. Alaska
  3. Hawaii
  4. Wyoming
  5. Iowa
  6. South Dakota

R&D Spending

The leaders in R&D spending are:

  1. Delaware
  2. Michigan
  3. California
  4. Connecticut
  5. Massachusetts

The states that spent the least on R&D include:

  1. Arkansas
  2. Wyoming
  3. Louisiana
  4. Alaska
  5. Mississippi

Academics

As for academics, the top states include:

  1. New Mexico
  2. Maryland
  3. Rhode Island
  4. Massachusetts
  5. Alabama

The lowest academic rankings were for:

  1. Louisiana
  2. Arkansas
  3. Delaware
  4. Wyoming
  5. Nevada

If you are a U.S. based company conducting R&D you may be eligible for the federal and/or state research tax credit. Please contact a Swanson Reed representative to find out further information.