Manufacturing – 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.

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.

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.

OptiTrack Opens New R&D and Manufacturing Facility

NaturalPoint (DBA OptiTrack) has opened a new manufacturing facility in Corvallis, Oregon. NaturalPoint is a subsidiary of Planar Systems, whose parent organisation is Beijing-based Leyard Optoelectronic.

OptiTrack provides 3D tracking technology with a comprehensive range of cameras, software and accessories. The firm’s new facility expands its presence in Corvallis which already houses the company’s headquarters and manufacturing operations.

The building, spanning 25005 sq ft, offers a new surface-mount technology (SMT) line and increased warehouse storage capacity. It also provides dedicated spaces for prototyping, additive manufacturing and assembly.

The upgraded facility allows it to better meet demand for 3D tracking solutions as well as shorten lead times for customers worldwide. Furthermore, it will also create new jobs and bolster its on-site research and development efforts.

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.

KnitIt Swaddles New Industries

New Mexico Patent of the Month - June 2021

KnitIt, a startup based in Holland, Michigan, is directing its baby swaddle technology to the healthcare and aerospace industries. The company’s flagship product, Swaddelini, is a 3D knit baby swaddles where the user gets a say in every stitch.

“Instead of walking into a fabric store and ‘feeling what fabric speaks to you,’ you have control of every stitch,” said Liz Hilton, founder. “Imagine you’re building a brick wall, and you have control over the size, shape and texture of each brick, and that’s knitting.”

The Swaddelini is woven from an elastic yarn and post-consumer nylon fiber all manufactured in North Carolina. Hilton said the material is soft, strong and safe for babies. Units are made from 16 automated knitting machines, so the finished product comes out in one piece.

There’s also one larger, more high-tech machine in the factory used for research and development of new products. This space is currently exploring the potential of applying their technology in tubular solutions in both the health care and aerospace industries.

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.

KūHana Accelerator Supports Hawaiian-owned Businesses

The KūHana Accelerator is helping Hawai’ian-owned businesses in early to mid-stages of development.

The accelerator provides an intensive 8 week business plan development class set to equip entrepreneurs with the tools and technical assistance needed for success. This covers everything from business planning to market research and financial projections.

“Our goal at KūHana is to empower local and Hawai’ian-owned businesses by providing them with a solid foundation in business planning. We’re committed to helping these entrepreneurs develop clear, actionable plans that not only attract funding but also set them on a path to long-term success,” says Max Mukai, Program Manager of KūHana.

Local businesses interested in the accelerator can reach out to KūHana at the 2024 Native Hawai’ian Convention.

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.

FORGE Secures New Funding from Connecticut’s MIF fund

FORGE, a nonprofit that connects hardtech startups with product development, manufacturing, and supply chain education and resources, today announced it has received new funding from the Connecticut Department of Economic and Community Development’s Manufacturing Innovation Fund (MIF).

The nonprofit is focused on bringing hardtech startups from prototype to commercialization at scale. They achieve this by providing the tools and advice needed by any startup. The new funding will bridge a critical gap for startups with physical products through non-dilutive product development grants in the range of $30,000 to $100,000, as well as continuing to offer manufacturing readiness education and facilitating right-fit connections to local manufacturers. FORGE aims to use these offerings to drive innovation, create new opportunities to engage with innovation for Connecticut suppliers, and increase advanced product development in the state.

Those interested can submit an application for FORGE’s first $30,000 grant. This grant will be awarded mid November at the CT Innovation Nights event in Stamford, CT. The application deadline is October 4, 2024.

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.

Chilly Dip Ice Spas Secures Finalist Spot in Casper Start-Up Challenge

Chilly Dip Ice Spas has been named a finalist in the 2024 Casper Start-Up Challenge.

Chilly Dip was founded by three friends, including Casper-resident Josh Kalinowski. Kalinowski played minor league baseball for years and has become intimately familiar with using ice baths to deal with the aches, pains, and injuries of the sport.

The startup has designed their own ice bath that fights the challenges most present. An ice bath tub is usually too small, too inconvenient, too uncomfortable and way too expensive. The Chilly Dip, as its name implies, is a versatile “tub” that can be used at home, on the go, at gyms or sporting events, in a backyard or garage or, really, anywhere one could think of.

“We want to have a product that represents the heart of Wyoming,” Kalinowski stated at the Casper Start-Up Challenge. “We’ve got great people in our state and we’ve got great manufacturing here. We’ve got people here that build wonderful, durable, long-lasting products that they can stand behind. And I believe, with the Chilly Dip, that we’ve created something that represents the state of Wyoming in all the best ways. This is going to bring jobs to the state. It’s going to bring opportunities. It’s going to bring notoriety to the state, specifically to Casper.”

The company has already designed three versions to maximize accessibility. The OG Chilly Dip is mostly stationary and can be hosted in a garage, backyard or gym, but the Chilly Dip MD and Lil’ Dip are inflatable and portable and perfect for on-the-go CWI therapy.

The Chilly Dip is one of five finalists in the Casper Start-Up Challenge, which, according to the Advance Casper website, exists to help “new, independent businesses in the seed, start-up, or early growth stages in Natrona County.” The top three winners of the Casper Start-Up challenge will receive seed money, in addition to marketing, networking and mentorship assistance throughout the challenge and beyond.

Kalinowski and his team will present the small business plan for the Chilly Dip during the 2024 Casper Start-Up Challenge Pitch Night, happening on Sept. 5 at Frontier Brewing Company. The Pitch Night starts at 5:30 p.m. and the public is welcome to attend and hear Kalinowski, as well as the other finalists, pitch their start-ups to a select, diverse panel of judges.

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.

US Government Launches $1.6B Advanced Chip R&D Competition

The Commerce Department has announced plans for a $1.6 billion advanced chip R&D competition. This CHIPS for America program will make awards of around $150 million each to promote private sector investment in five research areas.

The money will come through the 2022 Chips and Science Act in an effort to accelerate the US’s expertise in advanced packaging. Advanced packaging technology is in high demand now with advances in semiconductor technology powered by the growth of artificial intelligence applications and microelectronics. Currently, this market is dominated by Asian countries, and the US is estimated to control just 3% of the world’s capacity.

The US government outlined its vision for boosting its advanced chip capabilities in the National Advanced Packaging Manufacturing Program (NAPMP), which was unveiled last year. It has already handed out financial incentives to companies such as Intel , SK Hynix, Amkor and Samsung to boost the domestic advanced packaging sector.

With this new announcement the US Commerce Department is targeting five R&D areas:

Equipment, tools, processes, and process integration
Power delivery and thermal management
Connector technology, including photonics and radio frequency (RF)
Chiplets ecosystem
Co-design/electronic design automation (EDA)

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.