Industry – Swanson Reed | Specialist R&D Tax Advisors

Astra Secures Contract with Defense Innovation Unit

California launch company Astra has secured a significant boost for its upcoming Rocket 4 with a new contract from the Defense Innovation Unit (DIU). Announced on October 23rd, the deal underscores the potential of Astra’s “tactically responsive launch system” and could propel the company back into the spotlight.

The DIU, a U.S. military organization focused on utilizing commercial technologies, has pledged up to $44 million to support Astra. This funding will be directed towards “advancing and scaling the production capabilities” of Astra’s launch system, ultimately aiming for a successful launch of Rocket 4. The contract allows for launches from various locations, including the United States and Australia.

This news comes after a challenging period for Astra. Their previous Rocket 3 program experienced several setbacks, culminating in a failed June 2022 launch that left two NASA hurricane-tracking satellites stranded in the wrong orbit. These difficulties led to internal restructuring, including the company going private earlier this year.

The DIU contract signifies a renewed confidence in Astra’s capabilities. With this crucial financial backing, Astra is poised to make a comeback with the more powerful and versatile Rocket 4.

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.

iSciences Secures Funding Award from NASA

iSciences LLC has secured funding from NASA for a 3-year project: Sustaining the Geospatial Data Abstraction Library.

NASA recently awarded $15.6 million in grant funding to 15 different projects in an effort to support the maintenance of open-source tools, frameworks, and libraries used by the NASA science community, for the benefit of all.

The grants are funded by NASA’s Office of the Chief Science Data Officer through the agency’s Research Opportunities for Space and Earth Science.

iSciences has made a name for itself, monitoring freshwater resources and forecasts with a proprietary Water Security Indicator Model. The company secured funding from NASA’s Sustainment Awards category. The funding will support the company as they strive to support and sustain a geospatial data abstraction library – a tool essential to evidence0based analysis.

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.

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.

Nucleus RadioPharma Opens Facility in Mesa

Nucleus RadioPharma plans to develop two new research and development and production facilities in Mesa, AZ, and Springhouse, PA. The Arizona facility will be 53,000 sq ft and will bring about 50 new local jobs.

The expansion aims to address two challenges: a shortage of development and manufacturing facilities and geographic limitations caused by the short half-life of many radiopharmaceuticals.

Nucleus RadioPharma is a contract development and manufacturing organization focused on radiopharmaceuticals. The new facility will enable development across the nation with less failure due to the product’s half-life.

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.

Carbon Robotics Secures $70M in Series D Funding

Carbon Autonomous Robotics Systems (DBA Carbon Robotics) has secured $70 million in Series D funding. The round was led by BOND with participation from NVentures, Anthos Capital, Fuse Venture Capital, Ignition Partners, Revolution, Sozo Ventures, and Voyager Capital.

As a leader in AI-powered farming, Carbon Robotics plans to use the funding to scale their LaserWeeder™, introduce new software and hardware products, and expand state-of-the-art manufacturing capabilities in Eastern Washington. It will also support the company’s growth in new markets and continue its geographic expansion into Eastern and Southern Europe, as well as the Asia-Pacific region.

LaserWeeder™ was designed to bring laser weeding capabilities to the average farmer. Laser weeding kills a weed at the meristem before they compete for the resources that the crops rely on. Carbon Robotics’ solution uses computer vision, AI, Deep Learning, and robotics to see, think, and act.

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.

Skytree Opens New Office in Nashville

Skytree, a Dutch carbon capture startup, is expanding around the globe with a new office in Nashville and Toronto.

The company’s technology is based on the carbon scrubbers used on the International Space Station, which remove the excess CO2 produced from the breath of astronauts. Skytree’s Direct Air Capture (DAC) captures CO2 from the air. This creates a new source of usable CO2 which previously was wasted. With control over the CO2, a facility can make sure they have the exact amount of CO2 where and when they need it.

At present, Skytree has two carbon-sucking devices – Skytree Cumulus, which produces 20kg of CO2 daily and Skytree Stratus, which captures up to 1000kg per day.

Skytree selected Nashville as a result of the recent plans announced by the Biden-Harris Administration to provide up to $1.8 billion in funding for DAC technologies.

“The US continues to demonstrate growing demand for proven, cost-effective, scalable DAC technology driven by the needs of industry and with the backing by government,” said CEO Rob van Straten.

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.

Voyage Foods Plans Manufacturing Facility in Mason Ohio

Voyage Foods has selected Mason, Ohio as the site for their new innovative food manufacturing facility. The 284,000 facility will be the home base for their cocoa-free chocolate, nut-free spreads, and bean-free coffee. The manufacturing plant is expected to be operational by 2025 and will have the capacity to make 10,000 metric tons of cocoa-free chocolate annually once fully built.

The facility will be partially funded by a guaranteed loan program from the U.S. Department of Agriculture. The facility will also support Cargill, which became Voyage’s exclusive B2B global distributor for the nut-free spreads and cocoa-free chocolate.

The food company largely uses plant-based ingredients upcycled from waste and side streams. Their sustainable approach does not compromise on flavor and uses less water and land than traditional counterparts.

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.

Wolfspeed Secures $750M for New Facility

Wolfspeed, Inc., an American developer and manufacturer of wide-bandgap semiconductors, is set to receive up to $750 million in federal funding to construct a new facility in Siler City.

The Durham-based manufacturer was approved for funding through the CHIPS and Science Act as the facility will provide space for silicon carbide (SiC) wafer manufacturing. The facility will help to create over 5,000 new jobs including 2,000 in manufacturing and 3,000 in construction.

Wolfspeed is focused on developing SiC technology to create a more sustainable future without compromising on innovation. Their existing portfolio ranges from power devices like MOSFETs, Diodes, and Modules to material products like Substrates and Epitaxial layers.

“North Carolina is leading the way in semiconductor manufacturing, and I’m proud to have worked alongside Reps. Ross and Foushee to support Wolfspeed’s defense appropriations requests over the past two years,” Rep. Wiley Nickel said in a statement. “This funding will not only strengthen our national security by reducing reliance on foreign supply chains, but it will also bring thousands of good-paying jobs to our state and help support working families.”

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.

WarrCloud Secures $20M in Series B Funding

WarrCloud, a St. Louis – based tech firm, has raised $20 million in Series B funding. The round was led by Centana Growth Partners with participation from Argentum and Automotive Ventures.

WarrCloud has developed an automated warranty processing platform that fits seamlessly within their user’s systems. The new funding will expand their offering, using AI to further enhance warranty claims automation.

The company has had a big year, announcing partnerships with FordDirect, the Missouri Automobile Dealers Association (MADA), and American International Automobile Dealers Association (AIADA).

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.

Niron Magnetics Reach Commercial Scale

Microbeam Technologies Awarded $250K in Funding

Niron Magnetics, a Minnesota startup, has launched their rare earth-free permanent magnets to commercial scale. The company’s goal is to liberate wind turbines from their existing dependency on Chinese raw materials.

Niron’s clean earth magnets rely on proprietary manufacturing processes, nanomaterials, and metallurgical methods to achieve stability and performance.

“With the official opening of our commercial pilot plant, we’ve taken a significant step towards establishing a reliable, domestic supply of high-performance magnets critical for US national security, while launching the next generation of clean energy technologies and sustainable manufacturing,” said CEO Jonathan Rowntree.

High performance applications, like wind turbines, have traditionally relied on rare earth materials, like neodymium. Unfortunately, the mining, extraction, and manufacturing processes for these materials are labor intensive and environmentally damaging. Niron Magnetics’ solutions remove this reliance, building a more robust solution without compromising performance.

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.