Energy – Swanson Reed | Specialist R&D Tax Advisors

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.

Gevo Secures $1.46B for Sustainable Fuel Project

Washington Patent of the Month - August 2021

Gevo, an advanced renewable energy firm, has secured funding for its Net-Zero 1 (NZ1) sustainable aviation fuel project in South Dakota from the US Department of Energy (DOE) Loan Programs office (LPO). The LPO has granted conditional commitment for a loan guarantee totaling $1.46 billion, excluding capitalized interest during construction.

The NZ1 facility, located in Lake Preston, South Dakota, is poised to become the world’s first large-scale net-zero-emissions alcohol-to-jet (ATJ) production facility. Gevo plans to use entirely U.S. sourced feedstocks to produce sustainable aviation fuel (SAF), protein, animal feed products, and corn oil.

Gevo’s ATJ process will provide a non-fossil-based alternative jet fuel for commercial use. The DOE’s conditional commitment is a major milestone for NZ1, signaling the project’s potential to create significant economic benefits and drive job growth in South Dakota.

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.

Form Energy Secures $405M for New Battery Plant

Form Energy, Inc. has secured $405 million in new funding to support the opening of its first factory in Weirton, West Virginia and continue research and development. The round was led by T. Rowe Price with participation from GE Vernova.

Form Energy has developed novel energy storage technology, building a proprietary iron-air battery. Their solution can store electricity for 100 hours with plans to make their multi-day battery the base of a reformed global electricity grid.

Manufacturing long-duration energy storage at a commercial scale is seen as essential for lowering carbon emissions that are causing climate change. The difference being that scaled clean energy is not reliant on a shining sun or strong winds.

These scalable batteries outperform lithium batteries by 25 times. A standard lithium battery will typically last four hours.

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.

Oklo Secures Greenlight for Microreactor Site Inspections

Oklo, a nuclear startup, has received the greenlight from the Department of Energy to conduct site investigations, bringing them closer to their first commercial microreactor.

Current plans will have the microreactor constructed at the IDaho National Laboratory in Idaho Falls. The site investigations will focus on infrastructure planning, environmental surveys and geotechnical assessments. At present, the company hopes to break ground in 2026.

Oklo, however, still needs approval from the Nuclear Regulatory Commission to build and operate the plant after its first application was rejected in 2022. The CEO acknowledged there’s a risk the 2027 start date gets pushed out depending on how long the NRC review takes.

Oklo, which aims to build, operate and directly sell power to customers under long-term contracts, went public in May through a merger with OpenAI CEO Sam Altman’s SPAC, AltC Acquisition Corp. Altman serves as Oklo’s chairman.

The company said its microreactors, called Aurora, will have smaller and simpler designs that will range from 15 megawatts to as much as 100 megawatts or more. The average nuclear reactor in the U.S. currently is around 1,000 megawatts, according to the Department of Energy.

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.

Woodland Biofuels Plans Biofuel Facility in Louisiana

Woodland Biofuels, Inc., a Toronto startup, has announced plans for a new facility in Louisiana that will burn wood and garbage to produce a renewable biofuel.

The company anticipates a $1.35 billion investment at the Port of South Louisiana in St. John the Baptist Parish. The end goal is one of the world’s largest biofuel production facilities which will burn waste biomass to produce natural gas and hydrogen.

If the project moves forward as outlined in a Louisiana Economic Development (LED) news release, the company expects to create 110 direct new jobs with an average annual salary of more than $90,000.

According to LED’s news release, Woodland Biofuels plans to capture the carbon dioxide and sequester it underground at a storage site to be determined at a later date.

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.

Last Energy Closes $40M Series B Funding Round

Last Energy, Inc., a nuclear energy startup, has secured $40 million in Series B funding. The round was led by Gigafund, a venture capital heavyweight.

The Washington-based startup plans to use the funding to continue on the path to deploying their modular microreactors. At present, the plan is to deploy the first of their technology in Europe as soon as 2026.

The company has been focused on building a scalable energy solution capable of 20 MWe output. With this type of power, the solution could perform for industrial facilities and grid applications alike. The solution is further supported by over 100 global supply chain partners, ensuring minimal risk of any supply chain shortage or limitation.

The microreactor design ensures each unit can be combined with others to power the chosen site as needed. The startup claims that its microreactor is designed to be fabricated, transported, and built within 24 months, and is the right size to serve industrial clients. Under its business model, Last Energy aims to build, own, and operate its power plant at the customer’s site, avoiding the yearslong wait times to plug a new generation project into the power grid.

“We came to the conclusion that using the existing, off-the-shelf technology was the way to scale,” CEO Bret Kugelmass said in a 2022 interview with Canary Media. “We don’t innovate at all when it comes to the nuclear process or components — we do systems integration and business-model 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.

Reflect Orbital Plans to Light Up Our Lives

Reflect Orbital has captured the attention of many after announcing plans to deliver sunlight after dark. The plan? To use satellites equipped with ultra-reflective mylar mirrors to bounce sunlight back to Earth using GPS to locate the position of its customers on Earth.

CEO Ben Nowack said that the overall goal of Reflect Orbital to deploy 57 small satellites, each carrying 33-square-foot mirrors. The company conducted test runs, reflecting sunlight onto solar panels from a distance of nearly 800 feet, generating about 500 watts of energy per square meter.

The startup has pitched the idea as a potential solution to revolutionize the solar energy industry with continuous power generation even during nighttime hours.

The company website mentions that the application for their sunlight services will shut down this October with limited availability. Each deployment of sunlight will last approximately four minutes covering an area with a diameter of about three miles.

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.

Sunflower Fuels: Pioneering Sustainable Biofuel Solutions

Sunflower Fuels, a startup in the renewable energy sector, has named Gaby Blocher, a Cincinnati native, as the new CEO. The company is revolutionizing the way we think about sustainable fuel solutions.

Harnessing the power of agricultural crops, Sunflower Fuels is at the forefront of developing biofuels that offer a cleaner and greener alternative to traditional fossil fuels. By utilizing crops like sunflowers, the company is paving the way for a more sustainable future while reducing our dependence on non-renewable resources.

Under Blocher’s leadership, Sunflower Fuels is driving research and development efforts to optimize biofuel production processes. By leveraging cutting-edge technology and scientific expertise, the company is continuously innovating to improve the efficiency and scalability of its biofuel solutions.

One of the key advantages of Sunflower Fuels’ approach is its focus on utilizing crops that are abundant and environmentally friendly. Sunflowers, in particular, offer a high yield and require minimal inputs compared to other biofuel feedstocks, making them a sustainable choice for biofuel production.

In addition to its commitment to environmental sustainability, Sunflower Fuels is also dedicated to promoting economic growth and rural development. By partnering with local farmers and communities, the company is creating new opportunities for agricultural producers while contributing to the growth of rural economies.

As the demand for renewable energy continues to grow, Sunflower Fuels is well-positioned to lead the charge towards a cleaner, greener future. With Gaby Blocher at the helm, the company is poised to drive innovation, expand its reach, and make a meaningful impact on the transition to renewable energy sources.

Through its dedication to sustainability, innovation, and community partnership, Sunflower Fuels is proving that biofuels have the potential to play a significant role in addressing climate change and building a more sustainable world.

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.

Fueling the Future: Terragia’s Innovative Biofuel Technology

Terragia Biofuel Incorporated, a pioneering cleantech startup, recently announced the successful closure of its seed financing round, securing an impressive $6 million. This significant capital injection is aimed at advancing the company’s innovative approach to converting biomass into ethanol and various sustainable products, driving its growth and facilitating commercialization.

Founded in 2022 and headquartered in New Hampshire, Terragia specializes in cutting-edge technology aimed at producing sustainable fuels derived from cellulosic biomass. What sets Terragia apart is its unique biology-centric approach, which harnesses thermophilic microorganisms to seamlessly convert biomass into ethanol, bypassing the need for enzymatic additives and thermochemical pretreatment.

This groundbreaking methodology not only mitigates significant cost overheads typically associated with conventional cellulosic biofuel production but also caters to the fuel requirements of challenging-to-electrify transportation sectors like aviation, ocean shipping, and long-haul trucking.

The recent funding round, led by Engine Ventures and Energy Impact Partners, reflects growing optimism about Terragia’s potential to thrive in the cellulosic biofuel sector. Terragia’s vision for sustainable fuel solutions holds immense potential to revolutionize the biofuel industry and drive meaningful progress towards a greener, more sustainable future.

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.

KODE Labs Secures $30M Series B Funding

Detroit-based autonomous smart building startup KODE Labs announced the successful closure of a robust $30 million Series B funding round. Spearheaded by Maverix Private Equity and joined by esteemed partners TELUS Ventures and existing investor I Squared Capital, this investment marks a pivotal moment for KODE Labs, propelling its mission to help buildings worldwide achieve net-zero emissions.

Founded in October 2017 by brothers Edi and Etrit Demaj, alongside Gentrit Gojani, KODE Labs has swiftly emerged as a frontrunner in the realm of smart building technology. Recognizing buildings as a major contributor to global carbon emissions, the company is dedicated to enhancing the intelligence, health, and efficiency of buildings, enriching the experiences of occupants and visitors alike.

At the heart of KODE Labs’ innovation lies its enterprise platform, a sophisticated solution that integrates data from diverse building management systems, IoT devices, and operational systems into a unified, cloud-based infrastructure. This seamless integration enables KODE Labs to standardize and organize data at scale, positioning the company as a trailblazer in AI technology tailored for buildings.

With a proven track record of reducing energy consumption and carbon emissions by up to 30%, KODE Labs’ platform has garnered acclaim from Fortune 500 corporations, retailers, financial institutions, and global REITs across various sectors. By prioritizing user experience and operational excellence, KODE Labs has established itself as a leader in sustainable real estate management.

The Series B funding will fuel KODE Labs’ expansion and AI development efforts, enabling the company to further innovate building operations and experiences. By analyzing vast amounts of data, KODE Labs aims to create buildings that prioritize human experience and environmental impact, envisioning a future where efficiency meets human-centric design.

Since its inception, KODE Labs has forged partnerships with renowned companies such as QuadReal, Bedrock Detroit, Stream Realty, Hines, Ford, and other global corporations and REITs. With this latest investment, KODE Labs is poised to accelerate its expansion across North America, Europe, and Australia, solidifying its position as a driving force in the transition towards sustainable real estate management.

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.