Industry – Page 18 – Swanson Reed | Specialist R&D Tax Advisors

GlobalFoundries and Georgia Tech join forces to advance semiconductor innovation

GlobalFoundries (GF) and Georgia Tech have announced a strategic agreement to collaborate on semiconductor research and development. The partnership aims to expand research opportunities for students and advance semiconductor innovation. The two entities will work together to prepare and train a new generation of young people for careers in the semiconductor industry.

The partnership will include developing new educational, engagement, and research opportunities for students, curriculum development, training programs, internships, and joint faculty/engineering exchanges. Additionally, GF and Georgia Tech will collaborate on outreach programs to inspire interest in semiconductors and highlight career opportunities in microelectronics. The partnership will also explore programs to enhance diversity and inclusion within the semiconductor workforce.

The collaboration will help GF to advance its differentiated technology portfolio, in partnership with leading academic, government, and industry collaborators. The partnership will also allow Georgia Tech to leverage GF’s complementary technology and talent resources to benefit the semiconductor industry and improve the human condition.

According to Gregg Bartlett, Chief Technology Officer of GF, partnering with top-tier universities like Georgia Tech on research and development allows the company to tap into a deep pool of academic talent and technical expertise and bring new ideas and insights to the forefront of its work. He added that the collaboration aims to push the boundaries of what is possible in feature-rich semiconductor technology.

Semiconductor research is a top priority for Georgia Tech and the nation, as it develops innovative solutions that improve manufacturing and support national and state economies. The partnership with GF will enable Georgia Tech to contribute to the advancement of semiconductor innovation while preparing a new generation of young people for careers in the industry.

The collaboration will also include proposals for support from the US government through the CHIPS and Science Act funding. The partnership is a step towards advancing the semiconductor industry, and its benefits will be felt for years to come.

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

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.

Myodenovo Secures $105K for Tender Cultivated Meat

Myodenovo has secured $105,000 in funding from its first two investors: Sustainable Food Ventures and Sweet Farms. The North Carolina-based cultivated meat startup is focused on cultivated whole cuts with “realistic texture”. Their first target? Filet mignon.

The company has recently emerged, based in BioLabs NC. Founder and CEO, George Engelmayr, has worked for Merck, Humacyte, VitroLabs, and Mission Barns, showing an impressive background in biomedical engineering, regenerative medicine, and cultivated meat.

The new capital will enable the startup to cover general corporate expenses, including payments of director’s fees and salaries to employees while continuing their development efforts.

Myodenovo takes a scaffolding approach to guide and nurture the cultivated meat’s growth. They curate nutritious, sustainable scaffolds which directly inform the texture of each cut. The meat is cultivated and grown in bioreactors, creating the tenderness we all love in a nice cut of steak.

To kickstart operations, the startup aims to raise $2 million in a pre-seed round to be completed in the next 18 months. Additionally, the company announced plans to grow a bigger medallion for a future tasting later this year.

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.

Phlow Corp Secures $36M to Expand Domestic CDMO Operations

South Carolina-based medicine supply chain company, Phlow Corp, has secured $36 million in a Series B funding round. The funding will aid the company as they scale their contract manufacturing program. The funding’s primary focus will be on supporting the growth of cdmoX – the company’s manufacturing operations – to meet market demands for customized services.

The company refers to their U.S.-based,next generation contract development and manufacturing organization (CDMO) as cdmoX. This program provides R&D services for Advanced Pharmaceutical Ingredients (API) and Key Starting Materials with the intention of streamlining supply and reducing the exorbitant costs associated with typical development.

This mission addresses a growing pain point in the medical industry. Economic drivers moved the manufacturing of APIs abroad, while recent global events have made the global supply chain unstable. Phlow’s approach brings stability back by creating a resilient and domestic supply chain capable of manufacturing critical medicines and medical countermeasures. The boost in funding from this Series B round will aid in this mission, expanding the company’s reach and improving resilience.

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.

Rainbow R Technologies Brings in $1M in Seed Funding

Rainbow R Technology, a Portland-based startup, has raised $1 million in a seed funding round. This funding will be used to accelerate the development of their flagship product: Rainbow R Adventures. Companies are also now able to join the waitlist to experience the AI-powered indoor playground software.

The playground uses AI technology to perform communications and security which then helps monitor customer traffic, identify peak hours, and understand customer behavior. By analyzing this data, AI can provide recommendations to improve customer experience and help increase revenue.

Continued development will see improvements to the AI security and hardware features. They also intend to build an additional layer of safety and security for indoor playground owners and entrepreneurs. The launch of the technology will take place in the fall of 2023.

The women-owned startup ran a successful funding round with the help of family, friends, and local women investors.

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.

BioFlyte Expands Operations to Sandia Science and Technology Park

BioFlyte, Inc., a New Mexico startup, has announced plans to set up operations at a new 5,300 sq ft corporate facility as the Sandia Science and Technology Park. BioFlyte’s new facility will be used to ramp up both manufacturing and engineering operations as the company is growing rapidly.

BioFlyte is commercializing a revolutionary new class of fieldable biothreat sampling, detection and identification products for safety and security. This includes a whole class of aerosol mass spectrometers and associated products which protect against biological and low-volatility chemical threats.

While the technology is primarily designed to sample ambient air, liquid and powder samples can also be accepted. Regardless of sample type, the system analyzes and identifies microbes including spores, vegetative bacteria, viruses, bio-toxins and more. Their technology uses a matrix chemical coated onto a bioaerosol. Ultraviolet lasers then pulse to desorb and ionize the high molecular weight, non-volatile biomarkers in the bioaerosol. The vapor phase ions are then accelerated to the detector, and the heavy ions arrive after the smaller, lighter ions. Thus, the time-of-flight can be related directly to the ion mass.

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.

Strivacity Secures $20M in Series A Funding

Virginia-based startup, Strivacity, Inc., has secured $20 million in a Series A-2 funding round.

The round was led by SignalFire with participation from Ten Eleven Ventures, Mandiant founder Kevin Mandia, and Tenable co-founder Jack Huffard. The fresh cash brings Strivacity’s total raised to $28 million, which Graham, Strivacity’s CEO, says is being put toward product R&D, various go-to-market initiatives and customer support.

The company is tackling the growing challenges around authentication. Identity and access security issues are increasingly top of mind for companies. The startup allows companies to create secure business-to-business and business-to-consumer sign-in experiences.

With Strivacity’s platform, users get access to a dashboard with radio buttons and drop-down menus they can use to create sign-in flows. Strivacity handles aspects like consent management, identity verification and branding. And because it’s hosted on a scalable cloud, it can ramp up to match spikes in customer login activity for up to hundreds of millions of monthly active users.

The platform is further equipped with AI and machine learning models to bar bots from logging in and stealing data. The models look at customer behavior and usage patterns to identify any unusual activity when compared against a user’s history. When something anomalous happens, additional security steps are triggered to protect a user’s account from being hijacked.

Upcoming R&D will focus on adding new features including document-based verification and support for companies with multiple subsidiaries and divisions. In the next 12 months, Strivacity plans to nearly double its workforce from 40 employees to around 70.

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.

Shloop Inc Brings Sustainability to Footwear with Algae-Based Shoes

New Mexico Patent of the Month - November 2021

Shloop, Inc. – The Shoe Loop – is investing $9 million to renovate a bakery into a footwear design studio. The catch? The shoes are made from algae.

Algae is the fastest growing plant on the planet. This can be a nuisance for people who own ponds and other common sources of algae. But Shloop is turning a nuisance into a sustainable option.

The company developed their own process to turn algae into BLOOM. Ryan Hunt, a Bloom founder, believed algae could be used to remove harmful nutrients, such as phosphorus and ammonia, from industrial and agricultural waste-water. This led to a process of extensive research, where the company discovered they could place protein-rich algae biomass under significant heat, pressure, and time to create a plasticization process. This discovery opened the door for even more innovation. They could clean the environment while simultaneously providing algae-based sustainable materials to the world.

Now, Shloop will use the BLOOM technology to produce sustainable footwear that won’t take up space in landfills or contribute to pollution. Their renovation will convert a 30,000 sq ft historic bakery in Mississippi into a footwear design studio and factory, employing 56 people. The shoes will also be able to be repaired or recycled providing a closed loop for shoes made by Shloop.

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.

Early Stage Cancer Detection Company, Mercy BioAnalytics, Secures $41M in Series A

Mercy BioAnalytics, a company developing early-stage cancer detection technology, has raised $41M in Series A funding.

The round was led by Novalis LifeSciences, with participation from Sozo Ventures, Hatteras Venture Partners, iSelect Fund, American Cancer Society BrightEdge, Broadway Angels, Labcorp and Bruker.

The company intends to use the funds to advance development and commercialization of its Halo test, for high-risk lung cancer screening, its lead clinical indication, and to advance clinical programs in additional indications, including ovarian cancer.

The earlier cancer is detected, the greater the chances of beating it. Mercy BioAnalytics’ Halo Test is designed as a non-invasive, blood-based assay which analyzes single extracellular vesicles. These vesicles exist at high abundance in circulation, even when cancer is in its early stages. Since these vesicles are tumor-specific, the analysis can be run with incredible specificity and accuracy. Mercy’s initial focus is the early detection of ovarian and lung cancers.

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.

Springworks Farm Raises $22M to Expand Aquaponics Venture

Indiana Patent of the Month - December 2021

Springworks Farm has raised $22 million to expand its aquaponic greenhouse system that combines fish and plant farming in Maine.

The company uses aquaponics to grow their crops. This cross between hydroponics and aquaculture uses buoyant rafts, letting roots dangle in water to gather nutrients. The water has a healthy fish population which produce nutrients and waste – two things that help the plants grow. The plants, in turn, filter the water, making it safe for the fish to thrive in.

The latest funding round will support the development of their fourth aquaponic greenhouse. This new center will add 120,000 sq ft of greenhouse space in the next six years.

The expansion will allow Springworks, which already supplies more than 300 stores, to meet increasing demand for local, safe and sustainable food. By investing regionally, Springworks cuts thousands of food transportation miles for customers such as Hannaford, Whole Foods Market and Roche Bros. Supermarkets to increase access to high-quality, local food year-round.

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.