Indiana – Swanson Reed | Specialist R&D Tax Advisors

Sustainea Announces Renewable Chemical Plant in Lafayette

Sustainea, a Brazilian renewable chemical company, has announced plans to locate its first U.S. operations in Indiana. This expansion will come with a $400 million investment to establish its first Bio-MEG (monoethylene glycol) industrial plant in Lafayette.

The facility will be co-located with Primient, leveraging the company’s local supply of corn dextrose to produce a renewable, plant-based alternative to petroleum-based MEG. The company plans to break ground on its new Indiana operation following the finalization of engineering and final investment decision and expects to begin production in 2028. Sustainea plans to create up to 191 new, high-wage jobs in the coming years to support its growth.

Sustainea was founded as a joint venture between Brazil-based Braskem and Japan-based Sojitz. The company develops technologies to bring sustainability to the bottles and textiles market. While rethinking the raw materials, the company has developed their proprietary BioMPG and BioMEG.

The new facility will produce BioMEG from Primient’s Dextrose – a carbohydrate derived from con. This will provide a renewable chemical that is a key component in the manufacturing of polyethylene terephthalate (PET). PET has numerous applications across various sectors, including textiles (apparel, footwear) and packaging (beverage bottles, food packaging).

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.

Insignum AgTech Wins Pitch Contest

Insignum AgTech is among the five winners announced in Elevate Ventures’ second annual In-Prize pitch contest. Each winner scores the potential for up to $1 million in funding for each of the winners.

Insignum won based on their gene editing technology which enables plants to change color when stressed. A changed color can alert farmers to early signs of problems like disease or insect attacks.

Insignum’s solution not only alerts farmers to problems earlier, it removes the guesswork. With this type of reliable detection, farmers treat their crops exactly when, precisely where, and only if necessary.

Per contest rules, each of the five IN-Prize winners has the chance to land up to a $1 million investment, which includes up to $500,000 in co-investment from Elevate Ventures. A company that secures $500,000 from other investors, for instance, will be eligible for a $500,000 investment from Elevate Ventures.

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.

Sortera Technologies Welcomes New CFO to Spearhead Expansion Plans

Sortera Technologies Inc., a leading industrial scrap metal recycling company based in Markle, Indiana, has announced the appointment of Curt Sacks as Senior Vice President and Chief Financial Officer. With a wealth of experience in financial management, Sacks joins Sortera to lead the finance team during a pivotal phase of expansion and commercialization.

Bringing a strong track record of success to his new role, Sacks most recently served as CFO of Zero Motorcycles in California. His expertise in guiding companies through rapid growth phases makes him an invaluable addition to Sortera’s leadership team as the company aims to solidify its position in the $1 trillion metals and recycling markets.

Sortera is renowned for its innovative technology platform, which facilitates the complex sorting and recycling of mixed aluminum alloys, contributing to the sustainability of the manufacturing process. With Sacks at the helm of the finance team, Sortera is poised to accelerate its growth trajectory and advance its technology into new materials.

CEO Michael Siemer expressed enthusiasm about Sacks joining the team, highlighting his contributions to navigating companies through periods of significant growth. Siemer emphasized Sortera’s commitment to leveraging cutting-edge technology to transform the recycling industry and contribute to global sustainability efforts.

Prior to his role at Zero Motorcycles, Sacks held CFO positions at GigOptix Inc. and Endwave Corp., both based in California. His extensive experience in financial management and strategic planning positions him well to support Sortera’s ambitious expansion plans.

Sortera recently closed a $30.5 million Series C funding round, signaling investors’ confidence in the company’s vision and potential for growth. The funds will be utilized to expand Sortera’s operations across North America, further establishing its presence in the market.

With a newly established 200,000-square-foot facility in Markle, Sortera is equipped to handle up to 220 million pounds of scrap metal per year, positioning the company for continued success and innovation in the recycling industry. As Sortera embarks on its next chapter of growth, Sacks’ leadership will play a pivotal role in driving financial strategy and ensuring the company’s long-term success.

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.

Surf Internet Makes Waves in Knox, Indiana: A Fiber-Optic Revolution

In a groundbreaking moment for the City of Knox, Indiana, Surf Internet has set its sights on transforming the digital landscape. On a sunny July 20th, Surf Internet joined forces with the Starke County Economic Development Foundation and the City of Knox to kick off a monumental construction project: delivering fiber-optic internet to the heart of the city.

With an ambitious investment of nearly $2 million, Surf is on a mission to provide fiber connectivity to 1,200 addresses this year alone. But the vision doesn’t stop there – by 2024, they’re planning to extend this high-speed privilege to over 1,600 homes. This ambitious undertaking is particularly remarkable due to the rural nature of Starke County.

Leveraging strategic grant funding, Surf is determined to connect even the most remote locations. Thanks to the Indiana Connectivity Program, Surf is ensuring that 20 rural addresses become part of the digital revolution. In a recent triumph, the company secured $79,500 in the program’s latest round of funding.

Gene Crusie, the visionary CEO of Surf, emphasized the significance of this endeavor. “Surf is the first company to step up and deploy fiber-optic broadband to Knox,” he stated. This commitment resonates deeply with the community, as it promises to transform lives, businesses, and educational institutions.

Scheduled for completion by summer 2024, the project encompasses various phases that will usher in a new era of connectivity. The fiber infrastructure lays the groundwork for Surf’s future plans, including introducing multi-gig speeds – a testament to their dedication to providing top-notch service.

Mayor Dennis Estok of Knox expressed his excitement, highlighting how high-speed, affordable internet will enhance the community. “We look forward to building a long-lasting community partnership with them,” Mayor Estok stated, underscoring the potential for positive change that Surf brings to the city.

This endeavor is part of Surf Internet’s broader mission: constructing an advanced fiber-optic network that blankets rural communities across the Great Lakes Region of Illinois, Indiana, and Michigan.

Surf Internet isn’t just providing internet connectivity – they’re crafting a gateway to the future. By bridging the digital divide in underserved areas, they’re empowering communities and demonstrating the transformative power of innovation. As the world becomes increasingly connected, Surf Internet is at the forefront of ensuring no one gets left behind.

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.

Blue Agilis Corp Closes Successful Seed Funding Round

Blue Agilis Corporation has announced the close of their successful seed funding round with a $42.5 million post-investment valuation. The funding will enable the company to aggressively pursue growth opportunities and advance AI and machine learning capabilities within their Blue Agilis Platform.

The female-founded healthcare tech company has a team made up of physician-scientists, clinicians, population health experts, and technologists who are all dedicated to the future of healthcare. This expertise, along with the co-founder’s experience developing the Agile Transformation framework, has contributed to the company’s ability to provide insight into practices’ value-based care maturity levels, surface high-value opportunities, and leverage practice pattern data to create practice-specific interventions.

Leveraging AI prompts, the platform guides practices through the best course of action needed to accelerate improvements in quality, cost, health equity, and patient experience. The company unveiled their Beta Program in September, unlocking capabilities for rapid product iterations. The latest funding round is both a vote of confidence in the company and a commitment to the continued research and development.

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.

Sortera Alloys Partners with Novelis to Improve Automotive Alloy Recycling

Sortera Alloys, Inc.,creators of proprietary artificial intelligence (AI) focused on sorting automotive metals, has announced a strategic partnership with Novelis. Inc. Novelis is the leading sustainable aluminum solutions provider.

The partnership will bring Sortera’s patented technologies to Novelis’ production process, allowing the company to recycle and reuse higher amounts of both automotive post-production and post-consumer scrap.

In this day and age, mixed aluminum alloys cannot be re-separated into their individual base alloys. This means high-value alloys are forced into lower value uses. The goal is to use Sortera’s technology, which uses their AI along with novel data analytics and sensors, to tackle this limitation, bringing another high-value life to the alloys.

This partnership will ensure Novelis can separate the mixed scrap into their individual alloys, recycling them back into the same product and closing the loop. This will allow Novelis to meet original equipment makers’ exacting needs for performance, durability, safety, and design. Novelis has been working towards sustainability goals including a reduction of their carbon footprint by 30% by 2026 and this partnership is a big step in the right direction.

“We are thrilled to work with Novelis, the global leader in sustainable aluminum solutions,” said Michael Siemer, CEO, Sortera Alloys. “Together with existing investors like Chrysalix and Breakthrough Energy Ventures, and now Novelis, we are poised to disrupt the global aluminum recycling space while cutting global emissions and driving a more sustainable 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.

A Partnership Between InoBat Auto and Ideanomics will Advance EV Battery R&D and Production

InoBat Auto, a European pioneering supplier of premium batteries for electric vehicles (EV), has announced plans for a phased investment project based in Indiana. The project will be achieved in cooperation with Ideanomics, a global company focused on accelerating the adoption of commercial EVs.

The multi-phase project will have three distinct stages. First, they will open a new R&D and production facility for battery module and pack assembly with an initial annual production capacity of 100 MWh. Then each company will aim to construct a full commercial-scale battery module and pack assembly plant with an initial 2-3 GWh yearly production capacity.

The first two phases would be supplied by cells from InoBat Auto’s European facilities. The company is also exploring the option to construct a tailor-made battery cell production facility with an initial 4 GWh annual capacity.

The goal is to develop, produce, and distribute integrated battery pack solutions for the US market. The strategic partnership was established in January 2022 in an effort to expedite the innovations needed to accelerate EV adoption. InoBat Auto’s first-generation NMC 622 pouch cell achieves quicker charging, extra life cycle, higher capacity, and better capacity retention that the benchmark pouch cells. This technology will benefit Ideanomics, creating a significant technological edge for Ideanomics’ vehicle, charging, and energy solutions to meet fleet operations’ growing needs for clean mobility and infrastructures.

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.

Adranos Announces Successful $20M Series A Funding Round

Indiana-based Adranos Inc. has closed on a Series A funding of $20 million set to support their development of solid rocket fuel and motors for long-range missiles and space systems. The company will use the funding to support and grow their staff, scale its manufacturing capacity, and increase R&D efforts. This funding round was initiated after the founders developed a proprietary rocket fuel using aluminum-lithium alloys, achieving increased range, speed, and payload performance.

The Series A funding round closed after a successful test campaign of their ALITEC-fueled tactical missile-sized solid rocket motors for the US Navy and Air Force. Participation in this round of funding came from Impala Asset Management LLC, Explorer1 Fund, Elevate Ventures, and Specific Impulse Capital.

“To put that campaign in context, we built and tested solid rocket motors that were about 10 times larger than what we had built in the past. That was a significant step up in capability,” said Grasso. “With this funding, we’re going to be able to scale and meet all sorts of new and interesting opportunities as they come our way.” said Michael Grasso, co-founder and Chief Executive Officer Chris Stoker and Vice President of Space Systems and Government Relations.

The company’s ALITEC fuel maximizes solid motor performance by liberating hydrogen and minimizing slag formation, releasing more energy per unit weight of fuel versus traditional rocket fuels. R&D is conducted in West Lafayette and is expected to ramp up with this 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.

List Biotherapeutics to Build Large-Scale Microbiome Facility

List Biotherapeutics, Inc. has announced plans to build a large-scale microbiome production facility in Indiana, set to open by the end of 2023. List Bio is an offshoot of a South Korea-based clinical stage biotechnology company, Genome & Company.

The microbiome production facility will require the investment of more than $125 million to establish a new 110,000 sq ft facility which will be situated in the Fishers Life Science & Innovation Park. Alongside financial investment in the community, the facility will open 210 new jobs ranging from biologics manufacturing to quality and regulatory compliance.

This facility will provide a key connection point between List Bio and their sister company, List Labs. The new facility in Fishers expands List Lab’s ability to offer an end-to-end manufacturing solution from early-stage development to late-stage clinical trials and commercialization.

Jonathan Yongwan Jo, President and CEO of List Biotherapeutics said “Our objective with the investment for this new facility is to manufacture live biotherapeutic products (LBP) for Phase 3 clinical trials and for commercial use.”

Indiana is already an epicenter for medical innovation, and adding a company whose focus rests on the reintroduction of beneficial microorganisms for clinical therapies will only expand this.

Are you developing new products 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.

Inotiv, Inc. to Evaluate BioVaxys’ CoviDTH

BioVaxys Technology Corp. has announced their plans to work with Inotiv, Inc. This comes with BioVaxys Technologies plans to start their in vivo animal toxicology study of CoviDTH in parallel with the preparation of an IND submission. This plan came with a contract announced back in march to have Inotiv, a global contract research organization, evaluate the safety, tolerability, and toxicity of the purified recombinant SARS-CoV-2 s-protein. This protein is a principal constituent of BioVaxys’ CoviDTH- an experimental diagnostic for COVID-19.

The Inotiv study will utilize a purified recombinant s-protein produced by WuXi Biologics, who is BioVaxys’ bioproduction partner. Indiana-based Inotive provides contract research services to start up and emerging pharmaceutical companies, drug development companies, and medical research organizations.

CoviDTH is a low cost, disposable, diagnostic approach to identify a T-cell immune response to the presence of SARS-CoV-2. They had recently published clinical studies which validated the use of the delayed type hypersensitivity (DTH) cutaneous test behind CoviDTH as a feasible and safe in vivo method to assess cellular immune responses in both natural and vaccinated SARS-CoV-2 exposed individuals. They also validated that the DTH response is highly durable, persisting for at least one year after either COVID-19 exposure or vaccine administration.

BioVaxys President and Chief Operating Officer Ken Kovan stated, “Based on the millions of people who have received COVID-19 vaccines that are based on in vivo cellular expression of SARS-CoV-2 s-spike protein, as well as the human DTH studies, we are confident that the toxicology study with Inotiv of the s-protein will likewise confirm the safety profile of CoviDTH.”

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.