Blue Comply Wins Fargo Regional Pitch Comp

Wyoming Patent of the Month - November 2021

Blue Comply has won Grand Farm’s Fargo Regional Pitch Competition. The event was organized by Pegasus Tech Ventures and highlighted six different startups all looking to secure a spot at the Startup World Cup competition in San Francisco. Troy Verberg, founder of Blue Comply and regional winner, will have the opportunity to pitch at the global event on October 4th in San Francisco.

The Fargo Regional Pitch Competition was held at the Grand Farm Innovation Campus just west of Casselton, North Dakota.

Blue Comply develops tools and tools for the Oil & Gas industry. Their focus is on improving detection of fugitive methane leaks by targeting thief hatches. These hatches account for the majority of methane leaks on well sites, so improving the time to detection goes a long way in reducing waste emissions. Their IMSA Detection system is a wireless IoT device integrated into a storage tank thief hatch to detect methane leaks. 

The Startup World Cup is the largest startup competition globally, offering startups a chance to win a $1 million investment. The 2024 pitch will take place October 4th in San Francisco.

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.

ClearFlame Engine Technologies Receives Funding to test Clean Diesel-style Fuel

ClearFlame Engine Technologies Receives Funding to test Clean Diesel-style Fuel

ClearFlame Engine Technologies has announced they have successfully acquired $2.5 million in additional financing from multiple Corn Grower Associations, including the Iowa Corn Growers Association. This funding will help ClearFlame deploy pilot Class 8 trucks with its patented technology.

ClearFlame is a growing startup whose focus is on clean engine technologies. Their research leverages diesel-style mixing-controlled compression ignition (MCCI). Historic attempts in the industry have tested the use of clean-burning fuels and fuels that are easily made from waste CO2 have failed to ignite using MCCI.

ClearFlame’s solutions have been validated and combat the ignition limitations by elevating combustion temperatures. This elevation allows the use of non-traditional fuels without sacrificing performance. It even increases power by 25%.

Their technology can be integrated into existing diesel engine platforms and offer a more sustainable and cost-effective solution than diesel fuel while utilizing the existing liquid fuel infrastructure. They intend to use this latest funding to get a series of Class 8 trucks deployed by the end of 2021. 

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.

Bridger Photonics Announces Breakthrough LiDAR Technology

Missouri Patent of the Month - January 2021

Montana-based Bridger Photonics has announced a breakthrough in LiDar development for use in the oil and gas industry, earlier this week. Bridger Photonics develops precision LiDAR solutions to help oil & gas and manufacturing companies improve the safety and efficiency of their operations.

Bridger Photonics started out by developing a proprietary core LiDar engine which was capable of extremely precise distance measurements and 3D imaging. They advanced this technology for use in detecting, locating, and quantifying methane gas leaks across the entire natural gas value chain. The addition of this highly sensitive detection method offers greater protection and safety measures for those in the oil & gas industries.

Exxon Mobil has already filed an application with the U.S. Environmental Protection Agency to use the company’s LiDAR technology for their remote aerial detection of methane emissions. This type of move will allow Exxon to simplify and increase the efficiency and sustainability of their regulatory compliance checks. Previously, companies handled inspections manually along hundreds of production sites. Bridger Photonics new LiDAR detection technology could remove the need for this manual check and automate the process. 

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.

FuelGems Raises $895k in Crowdfunding for Clean Fuel Additive

FuelGems Raises $895k in Crowdfunding for Clean Fuel Additive

In an impressive crowdfunding attempt, FuelGems has raised $895,000 in funding. FuelGems is a brand new clean energy company focused on a fuel additive that will reduce harmful greenhouse gas emissions. They have spent the past five year developing and testing their fuel additive and are trying to increase production to bring it to the market. 

They developed this product to increase the efficiency of diesel and gas burning. Adding 1-5 g of their additive will treat up to 260 gallons of fuel and reduces harmful greenhouse gas emissions by 50%. Composed of EPA-approved carbon-based nanoparticles, this environmentally friendly additive helps reduce pollutants and reduce fuel consumption. 

FuelGems is hoping their additive will go beyond helping to increase fuel efficiency and help increase global health. The World Health Organization (WHO) suggests that 9 out of 10 people breathe in pollutants that exceed their guidelines for safe quantities. FuelGems hopes that the reduced emissions from their additive will help to prevent disease and ailment from this exposure. Additives like FuelGems could help reduce global emissions while we continue to use gasoline and diesel as our main fuel source.

Are you developing new technology? 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.