Delaware Recent News – Swanson Reed | Specialist R&D Tax Advisors

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.

Teeing Up Success: Eastside Golf Secures $3.4M in Seed Funding

Eastside Golf, a burgeoning apparel company based in Wilmington, recently made waves in the industry with the announcement of a significant investment round totaling $3.4 million in seed funding. Led by Elysian Park Ventures (EPV) and PGA of America, this joint venture investment marks a pivotal moment for the company’s growth trajectory.

Founded in 2019 with a mission to promote diversity and youth engagement within the golfing community, Eastside Golf has quickly gained recognition for its innovative approach to sportswear. With a focus on inclusivity and style, the company has garnered attention from both consumers and industry insiders alike.

The infusion of capital from EPV and PGA of America comes at a crucial time for Eastside Golf, allowing the company to bolster its operational capacity and expand its apparel line. Key hires in wholesale management and product development signal the company’s commitment to strategic growth and scalability.

Recognizing the strategic value of its partnership with EPV and PGA of America, Eastside Golf aims to leverage their expertise and resources to drive exponential growth. With a solid foundation in place, the company is poised to capitalize on emerging opportunities in the market.

Looking ahead, Eastside Golf plans to launch a women’s apparel line, tapping into a new market segment while staying true to its core values of inclusivity and accessibility. Additionally, the company will expand its presence with new pop-up shops across the country, enhancing brand visibility and consumer engagement.

Beyond apparel, Eastside Golf is exploring new avenues for growth, including partnerships with athletes and celebrities to broaden its reach and influence. Community outreach initiatives and innovative product offerings further underscore the company’s commitment to driving positive change within the golfing community.

As Eastside Golf sets its sights on the future, the company remains dedicated to pushing the boundaries of traditional sportswear and redefining the golfing experience for a new generation of enthusiasts. With a strong foundation and strategic vision, Eastside Golf is poised to become a leading player in the industry.

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.

Revolutionizing Carbon Capture: Compact Membrane Systems Secures $16.5 Million Series A Funding

Compact Membrane Systems (CMS), a groundbreaking player in the field of carbon capture, has recently announced the successful completion of an oversubscribed Series A funding round, securing an impressive $16.5 million. This funding not only highlights the confidence of investors but also marks a significant step forward in the fight against carbon emissions.

Headquartered in Newport, Compact Membrane Systems specializes in revolutionizing carbon capture technology. Their recent Series A funding round was led by Pangaea Ventures and featured the participation of notable investors such as GC Ventures, Solvay Ventures, Chevron Technology Ventures, and Technip Energies. This diverse group of investors underscores the broad spectrum of industries recognizing the importance of CMS’s carbon capture solutions.

CMS’s pioneering technology revolves around their advanced membrane systems. These innovative solutions have the potential to revolutionize industries that contribute to over 11% of global emissions, including sectors like steel, cement, and kiln-process operations. Unlike traditional carbon capture methods, which were expensive and energy-intensive, CMS’s modular and fully electrified solutions are designed to be contaminant-resistant, energy-efficient, and user-friendly. Remarkably, these solutions eliminate the need for regeneration, steam, or chemical solvents.

The implications of CMS’s breakthrough technology are far-reaching. By addressing emissions from industries responsible for a significant portion of global carbon output, the company is making a substantial contribution to a more sustainable future. What’s even more impressive is CMS’s ambitious timeline – aiming to deliver a low-cost, fully electrified carbon capture solution by 2026.

Erica Nemser, the CEO of Compact Membrane Systems, expressed her enthusiasm about these developments, stating, “This oversubscribed funding round catalyzes our ability to deliver large projects.” This funding will not only accelerate the company’s carbon capture solutions but also advance their work in olefins separation, enhancing production in chemical plants.

Beyond their groundbreaking technology, CMS is known for its distinctive work culture. Based in Wilmington, Delaware, the company offers a platform for personal growth, autonomy, and the opportunity to contribute to a cleaner future. With a collaborative work culture and a flat organizational structure, CMS fosters a spirit of learning and innovation.

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.

Delaware Startup SkipQ Launches $400k Funding Roud

SkipQ has launched a $400,000 funding round in a bid to develop a global marketplace for airport retailers. The funding will contribute to scaling the growth of the business as well as development of the SkipQ platform.

The company is bringing AI technology to the travel retail industry to eliminate the queue. Travelers will be able to enjoy shopping before every trip at every airport, without the nuisance of a queue.

SkipQ uses AI technology and data driven technology to provide its retail partners with real time sales forecasts and dynamic pricing information. This provides a direct link between airport retailers and service providers, with airline passengers through the app. The retailers can use the app to sell their products regardless of where they are flying from or traveling to.

This technology aims to solve the pain points experienced by travelers trying to shop at airports. Studies have shown that less than 20% of passengers who travel by air spend money at airports. These studies also show that it is likely limited by the poor shopping experience created by limited time, long queues, and high prices.

The use of predictive analytics can let retailers know when a consumer is willing to make the jump and click “buy”. This data then informs key sales and pricing information, from optimal selling times to required inventory levels.

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.

NAPIGEN has Announced $7.85M in Seed Funding for Gene Editing Technology

Delaware-based NAPIGEN, an ag-tech and genetics startup, has successfully raised $7.85 million in an initial seed funding round. The company, which operates out of the Delaware Innovation Space at the DuPont Experimental Station in Alapocas, has had a series of successes recently, including an NIH SBIR grant back in June.

The seed funding comes from a private stock sale led by The Grantham Foundation and RA Capital Management. The company intends to use the funding to apply its mitochondrial gene editing tech for hybrid seed production in wheat and rice. The technology can also be used to develop mitochondrial expression systems for use in plant mitochondria.

NAPIGEN’s technology has unique gene editing capabilities specializing in altering cytoplasmic genomes including mitochondrial and chloroplast DNA. NAPIGEN previously demonstrated use of CRISPR technology for genome editing of organellar DNA in yeast and algae.

The company was founded with the intention of addressing the global food shortage. With a growing population and increasing demand for food, products like grains are essential to feed the world.

“This can only be possible with breaking the biological yield limit of crop plants, which is exactly what we are aiming to do. Yield increases benefit both agriculture and environmental protection by reducing the need for deforestation to create new farmland, as well as decreasing the use of agricultural chemicals” said Dr. Hajime Sakai, co-founder and CEO at NAPIGEN.

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.

Botanical Solution Inc Win Best Biotech Startup for 2022

Hawaii Patent of the Month - November 2021

Botanical Solution Inc. (BSI) has been awarded the “Best Biotech Startup Business of the Year 2022” from the World BioProtection Forum and was selected finalist for two additional categories. This Award was presented to BSI Senior Vice President Latin America Diego Ibañez who also was one of the distinguished speakers at the main event, held on May 23 in Birmingham, UK.

BSI is a startup focused on innovating sustainable, consistent, and cost-effective Advanced Botanical Materials (ABM) for agricultural and pharmaceutical applications. The award was won based on the company’s discovery and development of its new biofungicide Quillibrium ® for fruit and vegetable growers worldwide.

This biofungicide is extracted from Quillaja saponaria, a tree native to Chile, and is capable of providing protection across a wide variety of fruits and vegetables against a broad spectrum of plant diseases. To comply with Chilean deforestation laws, the company developed a method of growing these trees within their laboratories and extracting the biofungicide in vitro.

This method is inline with the company’s proprietary R&D platform which innovates truly sustainable production methods for consistent and high quality ABM. The company was also a finalist for the “Most Innovative Research Project” and the “Best Collaboration of the Year” for its strong partnership with Syngenta in Latin America.

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.

Unconventional Gas Solutions Launches Verdant Process Systems

Unconventional Gas Solutions, LLC (UGS) is committed to the development of specialized membranes for gas generation and processing. They have recently launched a new line of process solutions for renewable natural gas (RNG), renewable hydrogen production, and hydrogen recovery from industrial processes. This line is coined Verdant Process Systems ™ and leverages the gas separations expertise of the UGS team.

UGS has an extensive history and expertise in process design and packaging, which Verdant Process Systems can base their system on. Their approach is based on technology selection and process design to optimize cost and carbon intensity with the ultimate goal of providing industry-leading methane emissions control across the system.

Verdant Process Systems will have a rapid start, taking on 8 new projects for the “flange-to-flange” turnkey biogas upgrading systems for the production of RNG. UGS was selected for these projects and intends to give Verdant Process Systems the support needed to get some of these projects online over the next 2 years.

UGS also announces a contract to purchase a 70,000 square foot Engineering, Fabrication & Assembly facility in Houston. The new, multi-building facility will house all of UGS’ fabrication and assembly activities. The facility will capture significant synergies with the supply chains available in the Houston area as well as the region’s growing renewable energy ecosystem. The new facility will complement the company’s Houston headquarters, the Business Development office in Wilmington, Delaware, and its R&D facility in Boston.

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.

Canine COVID-19 Detection Training Has Begun, With Help From a Delaware Startup

Dogs can’t catch COVID-19, but they might be able to detect it and help us stop the spread. A Delaware startup has developed a device to safely train dogs to sniff out the virus.

TADD

SciK9‘s TADDs (training aid delivery devices) are simple: a container, a membrane/filter, and a lid. The odor permeable membrane structure is the star of the show: made of a gas-tight chemical-resistant gasket, hydrophobic and oleophobic membrane, and a custom polypropylene membrane holder with a safety grid placed over the membrane to prevent puncture. It only allows odors through, so there is a scent but no actual exposure to the substance. The container lid is also gas-tight and chemical-resistant.

The TADD is the only training aid containment device to:

allow odors to be turned on/off,
securely contain liquids, oils, solids, small particulate, and hazmat,
extend the training aid (i.e. substance) shelf life, and
completely protect the animals and handlers from the substance.

Not only that, but all materials pass NASA’s Outgassing Compliancy tests, meaning that the product has no odor, so dogs are trained on exactly the substance odor.

SciK9, TADD and COVID-19

The TADD prototype was first developed in 2013 as part of research for the U.S. Army’s military explosives community canine detection program. Over seven years, the product was improved for durability, and many different uses. Michele Maughan, a researcher involved in the project, founded SciK9 in early 2020, with the intention of providing safer training to dogs who detect explosives, narcotics, medical diagnosis, etc.

However, SciK9 saw the need for its product immediately with the COVID-19 pandemic. Maughan, with the U.S. Army and the University of Pennsylvania, sought to explore the possibility of dogs detecting biomarkers produced by COVID-19 in humans. Discussions of this project began on March 27, ten days later planning started, and by the end of May COVID-19 human samples had been collected and dogs began training. The dogs never have exposure to the virus but are trained to detect human immune system responses to the virus. The goal is for the dogs to sniff out the disease in humans even before symptoms occur. SciK9 was recently awarded the Booz Allen Foundation Fund Grant, which will fund 250 TADDs for continued research.

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.

How Does Your State Rank on the Innovation Scale?

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:

Wisconsin
Washington
Texas
Utah
California
Massachusetts

The bottom five patented states include:

Alaska
Mississippi
Tennessee
West Virginia
Wyoming

Venture Capital

The top states for venture capital are:

Massachusetts
California
Utah
Washington
Colorado

The lowest are:

Arkansas
Alaska
Hawaii
Wyoming
Iowa
South Dakota

R&D Spending

The leaders in R&D spending are:

Delaware
Michigan
California
Connecticut
Massachusetts

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

Arkansas
Wyoming
Louisiana
Alaska
Mississippi

Academics

As for academics, the top states include:

New Mexico
Maryland
Rhode Island
Massachusetts
Alabama

The lowest academic rankings were for:

Louisiana
Arkansas
Delaware
Wyoming
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.

Governor Carney first executive order focused on business

Governor John Carney signed his first executive order on Wednesday introducing supportive measures for Delaware’s startup community.

The executive order establishes a public-private partnership within the Delaware Economic Development Office (DEDO) and tasks a 14-member working group with finding out how the state can help Delaware’s businesses thrive and attract more talent, as well as “support innovation,” according to a release.

The group will work closely with entrepreneurs and deliver a set of recommendations to the governor this coming April.

“Delaware’s economy is in a period of significant transition, and we must adjust our efforts to compete with other states and countries for jobs and talent,” said Carney in a statement.

The initiative is promising for the startup community, which has long been calling for more support from the state.

“I look forward to seeing who is on the working group and how well they understand the needs of the startup community as a whole,” said Mona Parikh, managing director of Start It Up Delaware and the tech community liaison for UD’s Horn Program in Entrepreneurship, who was present at the signing of the order. “Or how much of an effort they put forth to understand its needs, if they are in fact not well-versed in them.”