Industry – Page 11 – Swanson Reed | Specialist R&D Tax Advisors

Reprieve Cardiovascular Secures $42 Million Series A Financing for Intelligent Fluid Management in Heart Failure

Reprieve Cardiovascular, Inc., a trailblazing company dedicated to innovating intelligent automated diuretic and fluid management solutions for acute decompensated heart failure (ADHF) treatment, has successfully raised $42 million in a successful series A financing round. The funding, co-led by Lightstone Ventures and Sante Ventures and joined by Deerfield Management, Genesis Capital, and Arboretum Ventures, marks a significant milestone for the company, propelling its clinical and development programs, including the ongoing FASTR trial and an upcoming pivotal trial.

Heart failure affects over 6.7 million Americans today, with ADHF causing unplanned office visits, emergency room trips, or hospitalizations due to sudden or gradual onset symptoms. Recognizing the critical need for advanced treatment options, Reprieve Cardiovascular is on a mission to transform heart failure care.

The Reprieve System aims to personalize decongestion management effectively. By monitoring physiological parameters such as urine output, the system delivers personalized diuretic dosing and fluid replacement for ADHF patients. This intelligent approach seeks to improve patient outcomes, prevent hospital readmissions, and address the challenges posed by the standard diuretic treatment option, which has remained largely unchanged for 60 years.

Mark Pacyna, CEO of Reprieve Cardiovascular, emphasized the significance of bringing intelligent decongestion management to heart failure patients. The Reprieve System offers physicians and care teams real-time visibility and control, enhancing the overall treatment process.

The company’s growth is not only reflected in its innovative solutions but also in its expanded leadership team, which includes domain experts in product development, regulatory affairs, clinical strategy, and commercialization. Mark Pacyna, with his extensive experience from Medtronic, leads this team, and the series A funding reaffirms the belief in Reprieve’s potential to revolutionize heart failure treatment globally.

Jan Garfinkle, Founding and Managing Partner of Arboretum Ventures, expressed excitement about Reprieve’s emergence from stealth mode, highlighting the pivotal trial ahead. The series A funding signifies a collective belief in Reprieve’s team and the necessity for technology that can significantly impact the lives of ADHF patients worldwide.

Reprieve Cardiovascular, headquartered in Milford, Massachusetts, is on a mission to bring intelligence to decongestion management, providing hope for more than 25 million heart failure patients globally. The ongoing FASTR trial is a testament to the company’s commitment to advancing innovative therapies and transforming heart failure care.

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.

eBlu is Anything but Blue after Successful Funding Round

Louisville-based eBlu Solutions Inc., renowned as one of the city’s fastest-growing private enterprises, has successfully raised a substantial $4 million in a recent funding round, as per records filed with the U.S. Securities and Exchange Commission in January.

Founded in 2012, eBlu has rapidly expanded its footprint by offering an efficient single-portal software solution designed for benefit verification of specialty medications. The company experienced a significant surge in growth starting in 2021, marked by an impressive $11 million Series A fundraising round. Within a year, eBlu’s employee count skyrocketed from 63 to over 100, prompting a relocation to its new headquarters on the 15th floor of Waterfront Plaza in Downtown Louisville.

Currently boasting a workforce of 114 employees, eBlu is committed to further expansion and development. The freshly injected capital will play a pivotal role in supporting key initiatives geared towards sustaining the company’s growth trajectory.

Lori Wood, Director of Brand Marketing at eBlu, expressed excitement about the internal funding round and its implications for the company’s future. She highlighted the strategic addition of Mike Davis, Co-Founder of Appriss, as the Executive Chairman to the board, foreseeing an exciting and promising year ahead for eBlu Solutions in 2024.

The internal funding round was led by eBlu’s existing venture capital investors, including OCA Ventures from Chicago, Mutual Capital Partners from Cleveland, and FCA Venture Partners’ Health Innovations II fund based in Brentwood, Tennessee.

eBlu Solutions earned the remarkable position of No. 7 on Business First’s prestigious 2023 Fast 50 list, a testament to its phenomenal growth. The company achieved an extraordinary revenue surge, exceeding 411% over three years, escalating from $1.8 million in 2020 to an impressive $9.4 million in 2022.

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.

Revolutionizing Healthcare Documentation: Abridge AI Inc. Secures $150M in Series C Funding

Abridge AI Inc., headquartered in Pittsburgh, PA, has secured a remarkable $150 million in a Series C funding round, reaffirming its position as a trailblazer in the field of generative AI for clinical documentation. The investment was led by Lightspeed Venture Partners, who will now join the board, along with significant contributions from co-lead Redpoint Ventures, IVP, Spark Capital, Union Square Ventures, Bessemer Venture Partners, Wittington Ventures, Mass General Brigham Artificial Intelligence and Digital Innovation Fund (AIDIF), Kaiser Permanente Ventures, and CVS Health Ventures.

This substantial funding injection comes a mere four months after Abridge AI’s successful $30 million Series B round, underscoring the tremendous confidence and interest in the company’s innovative endeavors.

Abridge AI, under the visionary leadership of Dr. Shiv Rao, CEO, and Founder, specializes in providing a cutting-edge platform tailored for medical conversations. Their unique approach enhances clinical documentation efficiencies, allowing healthcare professionals to concentrate more on patient care. The platform utilizes generative AI to transform patient-clinician conversations into structured clinical notes in real-time, seamlessly integrating with Electronic Medical Records (EMR). Abridge AI’s speech and language technologies are versatile, supporting evaluation in 14 languages and functionality in many more.

The company is set to utilize the newly acquired funds to expand its team and embark on the development of foundation models that leverage extensive multimodal healthcare data. Abridge AI is at the forefront of innovation, actively working on personalizing notes, deepening EMR integration, and providing clinicians with valuable after-visit insights.

In an additional exciting announcement, Abridge AI disclosed a new enterprise agreement with the prestigious Yale New Haven Health System, the largest and most comprehensive healthcare system in Connecticut. This partnership will empower thousands of clinicians with access to Abridge AI for clinical documentation, focusing on reducing cognitive burdens and enhancing face-to-face patient engagement.

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.

ProfoundBio’s $112M Series B Funding Signals a New Era in Cancer Therapeutics

ProfoundBio US Co., a biotech company focused on novel targeted cancer therapies, has successfully raised an impressive $112 million in an oversubscribed Series B financing round. The funding, led by Ally Bridge Group, boasts participation from distinguished healthcare investors such as Nextech Invest, T. Rowe Price, Janus Henderson Investors, RA Capital Management, and OrbiMed, among others. This substantial financial backing reflects the confidence of both new and existing investors in ProfoundBio’s innovative antibody-drug conjugate (ADC) therapeutics.

ProfoundBio specializes in developing ADCs, a cutting-edge class of drugs that combine the precision of monoclonal antibodies with the potency of cytotoxic drugs. The funds from this Series B round will play a crucial role in advancing ProfoundBio’s clinical-stage ADC pipeline, particularly in accelerating the pivotal trial of rinatabart sesutecan (Rina-S), designed for the treatment of ovarian cancer.

Erin Lavelle, Chief Operating Officer, and Chief Financial Officer of ProfoundBio expressed gratitude for the support from premier life science investors, emphasizing the pivotal step it represents in enabling significant milestones. Lavelle notes, “It’s a pivotal step in enabling significant milestones and delivering key data readouts this year and through 2025.”

The distinguished funding round has not only garnered financial support but has also enriched ProfoundBio’s board of directors with strategic appointments. Andrew Lam from Ally Bridge Group, Eric Dobmeier, and Enoch Kariuki, both accomplished individuals in biotechnology and investment, are set to join the board, further fortifying ProfoundBio’s leadership.

ProfoundBio’s robust pipeline includes several promising ADC programs:

Rina-S: A folate receptor-alpha (FRα) targeted ADC, currently in Phase 2 trials for ovarian and endometrial cancers. Pivotal studies in ovarian cancer are planned for later this year.
PRO1160: A CD70 targeted ADC, in Phase 1 trials with initial results expected in 2024.
PRO1107: A protein tyrosine kinase 7 (PTK7) targeted ADC, in Phase 1 trials with initial results anticipated in 2025.
PRO1286: A bispecific ADC, expected to enter clinical trials in 2024.

Baiteng Zhao, Ph.D., Chairman of the Board and Chief Executive Officer of ProfoundBio, emphasized the significance of the Series B financing as a crucial milestone in their mission to redefine cancer treatment. The support enables ProfoundBio to advance its clinical trials and offer new differentiated approaches to patients battling cancer.

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.

Qloo’s $25M Series C Funding Propels Taste AI Innovation

Georgia Patent of the Month - January 2022

Cultural AI expert, Qloo, has successfully secured $25 million in Series C funding. Led by AI Ventures and featuring participation from prominent entities like AXA Venture Partners, Eldridge, and Moderne Ventures, this funding marks a significant milestone in Qloo’s journey as a pioneer in the evolving AI ecosystem.

Qloo’s forte lies in its sophisticated AI-powered insights engine, harnessing highly accurate behavioral data from consumers worldwide. With over half a billion attributes covering diverse categories such as consumer brands, music, film, TV, podcasts, dining, and travel, Qloo’s proprietary AI models identify trillions of connections between these entities. Notably, major brands like Netflix, Michelin, Samsung, and JCDecaux benefit from Qloo’s capabilities, gaining profound insights into customer tastes and preferences.

Crucially, Qloo navigates this landscape without compromising privacy, utilizing advancements that are increasingly pertinent in sectors like financial services, media and publishing, technology, and automotive. The demand for truthful and privacy-compliant AI solutions is soaring, and Qloo is at the forefront of delivering precisely that.

Alex Elias, Founder and CEO of Qloo, emphasizes the company’s commitment to merging cultural knowledge with advanced AI. “For over a decade, we have been committed to refining our cultural data science, and we are now entering an exhilarating phase of expansion, fueled by the growing importance of privacy and the democratization of AI technology,” says Elias.

The Series C funding positions Qloo to democratize AI further, introducing an accessible, self-service interface later this year. This move aims to make consumer and taste analytics available to small and mid-sized enterprises and individuals. Qloo’s ability to make accurate taste predictions, even with limited data, signifies a transformative shift in how AI comprehends our world and anticipates consumer preferences.

Liza Benson, Partner at Moderne Ventures, expresses enthusiasm about Qloo’s expansion into industries such as real estate, finance, and insurance. “It’s an exciting phase of growth, and we’re proud to be part of Qloo’s journey,” says Benson.

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.

Siftwell Analytics: Revolutionizing Healthcare Through Data Insights

Siftwell Analytics, Inc., a digital health company specializing in community health plans, has secured a substantial $5.8 million in its inaugural venture capital funding round. The funding round marks a pivotal moment for the company as it harnesses the power of machine learning and AI to proactively enhance member outcomes.

Venture capital firms AlleyCorp, Arkin Digital Health, Tau Ventures, and The Charlotte Fund have all joined forces to support Siftwell in this endeavor, showcasing a collective belief in the company’s potential. The infusion of funds is earmarked for further product enhancement, signaling an exciting phase of growth for Siftwell.

Currently operating in four states – Idaho, Montana, Wyoming, and North Carolina – with expansion plans for New Jersey and Arizona, Siftwell focuses on major health conditions such as COPD, depression, hypertension, and obesity. The company’s unique approach involves leveraging machine learning and AI to identify at-risk individuals, thereby improving quality scores and cost profiles.

iftwell envisions incorporating more health-related social needs or SDOH factors into their datasets, making them even more actionable. The commitment to addressing the diverse aspects of population health is evident in their expansion plans and the company’s proactive stance in utilizing cutting-edge technology.

Siftwell’s innovative methodology involves analyzing a plethora of data, including claims, health risk assessments, and call center data. The incorporation of social determinants of health (SDOH) factors, such as access to food, transportation, housing, and employment, enables the company to glean valuable insights. This data is then subjected to machine learning processes, revealing patterns that determine compliance with quality score measures.

The company’s ability to categorize members into unique groups, guided by artificial intelligence, facilitates tailored and efficient healthcare solutions. Through precise identification of individuals at risk, Siftwell empowers health plans to intervene proactively, resulting in improved quality measures and health outcomes.

Siftwell’s impact extends beyond the traditional realms of healthcare analytics. By defining data twins and identifying virtually identical clusters with a single intervention factor, the company provides health plans with actionable insights. This approach enhances the efficiency of health plans, urging members to seek specific interventions like primary care visits.

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.

Revolutionizing Care: Carewell’s $24.7M Series B Funding Unveiled

In the dynamic world of healthcare, where compassion meets commerce, Carewell Family, Inc. (Carewell) has emerged as a beacon for family caregivers. The Miami-based online retailer, founded in 2017 by Bianca Padilla, recently secured a substantial $24.7 million in Series B funding. This financial injection, led by MBF Healthcare, showcases a resounding vote of confidence from existing investors like Sageview Capital, Headline, Primetime Partners, Nextview, Florida Opportunity Fund, and Anchor.

Carewell’s mission is nothing short of transformative – providing essential tools and resources to family caregivers navigating the complex landscape of healthcare. The company’s commitment is reflected not only in its product offerings, ranging from incontinence supplies to nutritional supplements, but also in its comprehensive support system. Carewell boasts a team of trained customer care experts, an arsenal of over 300 educational articles, detailed video content, FAQs, and product pages that empower caregivers with knowledge.

Bianca Padilla, the visionary CEO and Founder of Carewell, emphasizes the emotional and physical toll that caregivers endure. In her words, the mission at Carewell is to help educate, support, and advocate for these selfless heroes. Padilla’s personal experience as a first-time caregiver to her grandmother underscores the crucial gap that Carewell aims to fill.

The Series B funding comes at a pivotal moment for Carewell, facilitating strategic growth initiatives, advancements in e-commerce technology, and an enriched customer experience. The company has also made significant strides by relocating its headquarters to Miami and welcoming seasoned executives from Chewy.com, a testament to its commitment to excellence.

Mike B. Fernandez, Chairman of MBF Healthcare Plans, lauds Carewell’s dedication to exceptional customer experience and high-end products. The company’s unique positioning in the market has garnered support from healthcare investors who recognize the transformative potential Carewell holds in shaping the future of healthcare and caregiving.

As Carewell embarks on this exciting journey fueled by Series B funding, the promise of improved service, an expanded product suite, and a profound impact on the lives of caregivers looms large on the horizon. The $24.7 million influx marks a significant milestone in Carewell’s pursuit of revolutionizing caregiving, one empathetic step at a time.

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.

Revolutionizing Industry: AtmosZero’s $21 Million Boost for Zero-Emissions Technology

In a significant stride towards a sustainable future, AtmosZero has secured a substantial $21 million in Series A funding to advance the commercialization of its groundbreaking Boiler 2.0 system. Designed as a zero-emissions technology, the Boiler 2.0 system is poised to transform the industrial landscape by generating high-temperature steam without contributing to the carbon footprint.

Industrial boiler systems, currently responsible for approximately 8% of global energy consumption, have long been a challenge in the quest for sustainability. These conventional systems, heavily reliant on fossil fuels, pump out around 2.25 gigatons of carbon emissions annually. Recognizing the need for a radical shift, AtmosZero offers an electrified, drop-in replacement for steam boilers.

The innovative technology operates by harnessing ambient heat from the air, a process that not only generates steam efficiently but also significantly reduces overall facility energy needs. This dual benefit translates to enhanced efficiency and considerable cost savings for industries, underlining AtmosZero’s commitment to sustainable solutions.

Co-led by Engine Ventures and 2150, the Series A funding round saw participation from notable entities like Constellation Energy, Energy Impact Partners, Starlight Ventures, and AENU. The Department of Energy’s Industrial Efficiency and Decarbonization Office further endorsed AtmosZero’s vision with a substantial $3.2 million grant.

One exciting development on the horizon is AtmosZero’s partnership with New Belgium Brewing, marking the initiation of the first commercial pilot for the electrified Boiler 2.0. With a robust 650-kilowatt capacity, this pilot, set to be installed at New Belgium’s headquarters in Fort Collins, Colorado, represents a tangible step towards real-world application.

The newly secured investment will not only bolster the pilot project but also facilitate the establishment of AtmosZero’s European subsidiary based in Amsterdam, amplifying the company’s global reach.

As industries worldwide grapple with emissions reduction targets, AtmosZero stands at the forefront, offering a viable solution to the decarbonization of industrial heating. With a mission to replace existing fossil-based systems, AtmosZero’s electrified solution, as backed by investors and the Department of Energy, signifies a crucial step in the journey towards achieving net-zero emissions and a more sustainable, environmentally conscious industrial sector.

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.

Revolutionizing Hydrogen Storage: H2MOF’s Quest for a Greener Tomorrow

In the sunny landscape of California, a pioneering startup named H2MOF is at the forefront of a revolution – one that could reshape our energy landscape and propel us towards a sustainable future. Co-founded by Nobel laureate Fraser Stoddart, H2MOF is tackling the Achilles’ heel of the hydrogen economy: efficient storage. In a world where hydrogen holds immense promise as a clean energy source, the challenge lies in unlocking its potential.

Hydrogen, abundant in the universe, emerges as a beacon of hope for a carbon-neutral future. It’s light, efficient, and with the right production methods, leaves no carbon footprint. However, the stumbling block has always been storage. High pressures and low temperatures currently characterize hydrogen storage, posing logistical and economic challenges.

Scotland, a trailblazer in renewable energy, is setting ambitious hydrogen production targets, but the storage question lingers. This is where H2MOF comes into play, armed with a vision to transform hydrogen storage. Fraser Stoddart and his team are focusing on metal-organic frameworks (MOFs), porous materials with the potential to store substantial amounts of hydrogen at room temperature and moderate pressures.

The journey towards a decarbonized future is complex. The International Energy Agency envisions hydrogen as a linchpin in achieving a carbon-neutral world economy by 2050. Green hydrogen, produced through electrolysis with decarbonized electricity, is a promising solution, but scaling production necessitates significant infrastructure development.

H2MOF is leading the charge in the race to solve the hydrogen storage challenge. The potential breakthrough could usher in a new era of clean, green energy, providing a crucial element in achieving a sustainable future beyond conventional batteries. The world watches with anticipation, hopeful that companies like H2MOF will pave the way for a green transition powered by hydrogen – a beacon lighting the path to a brighter, more sustainable tomorrow.

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.

Revolutionizing Circular Economy: Cyclyx’s Groundbreaking R&D Takes the Lead

Cyclyx International has emerged as a trailblazer in the pursuit of a circular economy. With recent developments, including a final investment decision for their Circularity Center, the company is making waves in the recycling industry through innovative research and development efforts.

The New Hampshire-based venture has announced a final investment decision to build the first Cyclix Circularity Center (CCC) in Houston. The facility is designed to accept and process plastics for use in a range of recycling technologies.

“This milestone is evidence of the real progress we are making to increase the circularity of plastic waste as a resource,” says Cyclyx CEO Joe Vaillancourt. “The first-of-its-kind CCC in Houston will serve as a blueprint, which we can replicate across the U.S. to progress our long-term goal of increasing the recycling options for plastic waste. Cyclyx is proud to be an innovator and enabler for unlocking plastic’s potential.”

Cyclyx’s commitment to a circular economy is evident in their strategic investments and cutting-edge R&D initiatives. The CCC, a testament to their vision, is poised to redefine the future of recycling.

At the core of Cyclyx’s R&D endeavors is a comprehensive understanding of the recycling process. Their innovative approach involves leveraging advanced technologies to optimize the collection, sorting, and processing of recyclable materials. By employing data-driven insights and state-of-the-art systems, Cyclyx aims to create a closed-loop system that minimizes waste, maximizes resource efficiency, and promotes a sustainable circular economy.

The CCC serves as a hub for collaborative efforts, bringing together industry experts, innovators, and stakeholders to drive the development of groundbreaking recycling technologies. Cyclyx’s holistic approach involves fostering partnerships that transcend traditional boundaries, creating a network of like-minded individuals and organizations dedicated to advancing the circular economy agenda.

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.