Industry – Page 25 – Swanson Reed | Specialist R&D Tax Advisors

IperionX Partners with UTIA to Explore Sustainable Agriculture

IperionX, Ltd has announced a partnership with the University of Tennessee Institute of Agriculture (UTIA) to research the implementation of sustainable operating and rehabilitation practices at the Titan Critical Mineral Project in West Tennessee.

The Titan Critical Mineral Project includes programs focused on post mineral extraction practices and carbon sequestration opportunities.

This partnership will first focus on the elimination of invasive vegetation in order to improve the ecological revegetation. This will be achieved using native warm season grasses. Following this initial step, the company will establish a 10-acre demonstration site at the Titan Project which will be used by UTIA for further sustainability investigations. The partners have biochars, gypsum, and other soil amendments on their mind as they strive to develop solutions to increase crop yields and carbon sequestration.

Anastasios (Taso) Arima, CEO and Managing Director said, “This partnership with the University of Tennessee is a vital part of IperionX’s mission of sustainably re-shoring critical minerals in the U.S. and leaving behind a positive legacy with the communities and land in West Tennessee.”

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.

XONA Systems Secured $7.2M in Series A Funding

Georgia Patent of the Month - January 2022

Maryland-based XONA Systems has closed their successful Series A funding with $7.2 million in funding. This funding will be directed towards building out the company’s sales and marketing team as well as an investment in product development. These two moves will position the company for an international expansion.

The startup developed a secure platform for businesses to use digital tools to control physical infrastructures including oil rigs and wind turbines. The company saw the need for remote and secure access to operational technology and built a platform that would meet these needs.

“Being able to access operational technology and other critical systems at any time, and from anywhere is becoming a necessity. Hybrid work is convenient, cost effective and plays a role in recruitment and retention – but for critical infrastructure, it’s all that and way more,” said Bill Moore, founder and CEO at XONA. “There are countless reasons professionals running oil rigs in the middle of the ocean, manufacturing plants meeting high demand, water treatment facilities serving large populations and other critical facilities need 24/7 access. But providing that access has traditionally been complex and fraught with security issues – that’s why we built XONA.”

Technology agnostic and configured in minutes, XONA’s proprietary protocol isolation and zero-trust architecture immediately eliminates common attack vectors, while giving authorized users seamless and secure control of operational technology from any location or device. With integrated multi-factor authentication, user-to-asset access controls, user session analytics, and automatic video recording, XONA is the single, secure portal that connects the cyber-physical world and enables critical operations to happen from anywhere with total confidence and trust.

They intend for this expanded global presence to reach more than 25 countries which will further enhance their secure reach. As a result of the funding, Mike Janke, managing director at DataTribe Opportunities Fund, has joined the company’s board of directors. In addition, Jeff Williams, former chief revenue officer at FireEye, has joined as an independent board member.

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.

Eden Awarded $3.8M from DOE’s ARPA-E for Geothermal Stimulation Technology

Microbeam Technologies Awarded $250K in Funding

Eden GeoPower Inc. (Eden) has been selected to receive $3.79 million in federal funding from the US Department of Energy Advanced Research Projects Agency – Energy (ARPA-E). This funding will be directed towards their “Electro-Hydraulic Fracturing of Enhanced Geothermal Systems” project. In addition to this funding, the company will receive support from world-class researchers from the Idaho National Laboratory (INL) and Massachusetts Institute of Technology (MIT).

Eden was founded with the intention of developing scalable, sustainable extraction of Earth’s geothermal heat and natural resources. To meet these goals, the company is developing a first-of-its-kind Electrical Reservoir Stimulation technology which offers a safer, more effective, and more efficient method of recovering these natural resources. Once developed and implemented, this has implications for a carbon-free future.

Their Electro-Hydraulic Fracturing of Enhanced Geothermal Systems aims to make a novel electromagnetic reservoir stimulation technology. This stimulation will increase the subsurface permeability in Enhanced Geothermal Systems, allowing fracturing and natural resource extraction with reduced environmental impacts. Traditional hydraulic fracturing techniques create extreme pressure and temperature conditions within the fractured hole and limit the stimulation of geothermal reservoirs.

“We are developing a radically different approach to reservoir stimulation, which utilizes high-voltage electricity as the main mechanism to increase reservoir permeability. This technology complements recent innovations in geothermal reservoir drilling, since drilled wells will need to be successfully stimulated to achieve maximum net power output per well,” described Eden Co-founder and CEO Paris Smalls.

Since its founding in 2009, ARPA-E has provided $2.93 billion in R&D funding, and ARPA-E projects have attracted more than $7.6 billion in private sector follow-on funding to commercialize clean energy technologies and create sustainable clean energy jobs. In 2019, the National Renewable Energy Laboratory (NREL) received funding under the ARPA-E awards for the development of a revolutionary high-rate drilling system using electric pulses to drill high-temperature geothermal wells.

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.

Botanical Solution Inc Win Best Biotech Startup for 2022

Hawaii Patent of the Month - November 2021

Botanical Solution Inc. (BSI) has been awarded the “Best Biotech Startup Business of the Year 2022” from the World BioProtection Forum and was selected finalist for two additional categories. This Award was presented to BSI Senior Vice President Latin America Diego Ibañez who also was one of the distinguished speakers at the main event, held on May 23 in Birmingham, UK.

BSI is a startup focused on innovating sustainable, consistent, and cost-effective Advanced Botanical Materials (ABM) for agricultural and pharmaceutical applications. The award was won based on the company’s discovery and development of its new biofungicide Quillibrium ® for fruit and vegetable growers worldwide.

This biofungicide is extracted from Quillaja saponaria, a tree native to Chile, and is capable of providing protection across a wide variety of fruits and vegetables against a broad spectrum of plant diseases. To comply with Chilean deforestation laws, the company developed a method of growing these trees within their laboratories and extracting the biofungicide in vitro.

This method is inline with the company’s proprietary R&D platform which innovates truly sustainable production methods for consistent and high quality ABM. The company was also a finalist for the “Most Innovative Research Project” and the “Best Collaboration of the Year” for its strong partnership with Syngenta in Latin America.

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.

8 Rivers Capital, LLC has Been Awarded $1.8M in Funding to Support their Hydrogen Production Plant

8 Rivers Capital, LLC has been awarded $1,802,863 in funding to support their pre-front-end engineering design study for a new hydrogen production plant equipped with 8RH2 technology. The funding comes from two sources, with the Department of Energy (DOE) providing $1,412,863 of the funding.

The hydrogen production plant will cost-effectively produce 100 million standard cubic feet per day of 99.97% pure hydrogen and capture 90-99% of carbon dioxide emissions. This study is set to evaluate three design cases implementing varying processes of the 8RH2 equipment and a CO2 separation unit. The captured CO2 (~600,000 tonnes/year) will be transported and stored at Painter Reservoir Gas Complex in Evanston, Wyoming, and the hydrogen product will be converted to ammonia for rail export to California. The project will deliver a detailed engineering package, including a levelized cost of hydrogen for the three design cases.

8 Rivers Capital has committed themselves to building Net Zero 2050, which means they are building the technology to support companies as they strive to meet their net-zero goals. Their 8RH2 process generates clean hydrogen with full carbon capture and at less cost than any other existing hydrogen production technology.

8 Rivers Capital is not the only company to receive funding from the DOE this round. The DOE has awarded a total of $24.9M to 6 projects focused on advancing hydrogen technologies for electricity generation. The remaining 5 projects include:

Investigation of Ammonia Combustion for Turbines (IACT) by the Gas Technology Institute
Advanced Mixed Mode Combustors for Hydrogen F-Class Retrofit by the General Electric Company
Demonstration of a Gas Turbine-Scale RDC Integrated with Compressor and Turbine Components at 7FA Cycle Conditions by the General Electric Company
Development of Hydrogen Burner for FT4000 Aeroderivative Engine by Raytheon Technologies Research Center
Low-NOx, Operable Ammonia Combustor Development for Zero-Carbon Power (LOAD-Z) by Raytheon Technologies Research Center.

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.

UbiQD Growing Drastically in Response to New Collaborations

Ubiquitous Quantum Dots (UbiQD) is a New Mexico-based company focused on the development and manufacturing of quantum dots to support companies in their R&D efforts. This advanced materials company contributes to product innovations in agriculture, clean energy, and security industries.

The quantum dots are made of materials capable of unlocking low-waste, high-efficiency solutions. For size reference, these nanoscale structures measure about 10,000 times smaller than a human hair.

These efforts are paying off as the company will soon be powering up commercial buildings, boosting greenhouse production and, eventually, feeding astronauts on the moon.

These leaps and bounds will be achieved as the company turns their nanoscale, 3D structures into sunlight-harvesting machines to make solar-generating windows, plastic row covers that accelerate greenhouse plant growth and a new type of security ink to protect official documents against counterfeiting.

Some new collaborations with two large industry partners have poised the company to scale up their production, further supporting their existing real-world applications and their growth. The first collaboration, with Heliene Inc., will integrate UbiQD’s quantum-dot film into their solar panels for greenhouses.

The second collaboration, with SWM International, will directly incorporate the quantum dots into SWM’s plastic sheets as a drop-in product for the manufacture of solar-generating windows.

To date, UbiQD has raised more than $14 million in private equity and grant funding to pursue different market applications for its quantum dots. It currently employs 26 people full time, 24 of them at its headquarters in Los Alamos.

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.

Entegris has Opened their New Life Sciences Technology Center

Entegris has announced the opening of their new Life Sciences Technology Center in Billerica, Massachusetts.

This new facility will provide life science customers with the opportunity to leverage Entegris’ cold-chain supply expertise and increase the speed to market for their clinical products. The center will provide the space needed to bring tools and technologies together to support the testing of freezing and thawing processes.

Entegris works with leading manufacturers to support and enable advancements in technology. This includes strategically placed manufacturing sites, R&D facilities, and customer support centers. The new facility serves to bridge a gap in their network and further support development efforts.

Entegris’ products and solutions include:

Filtration products that purify gasses, fluids, and the ambient fab environment
Liquid systems and components that dispense, control, analyze, or transport process fluids
Gas delivery systems that safely store and deliver toxic gasses
Specialty chemistries for deposition and cleaning at advanced nodes
Wafer carriers and shippers that protect semiconductor wafers from contamination and breakage
Specialty coatings that provide high-purity surfaces for wear-resistance, corrosion protection, and smoothness
Premium graphite and silicon carbide for high-performance applications
Shippers and trays for protecting and transporting disk drive components

With the newly offered Aramus-shaped 2D single-use bags, customers can customize shapes, sizes, and assembly configurations to better suit their available space and function requirements. This provides a more robust solution to match any customer’s manufacturing requirements. They have been designed to be resistant to extreme cold temperatures and to withstand gamma sterilization, making them an option for freezing, transporting, storing and thawing drug substances like COVID-19 vaccines, cell therapies and gene therapies.

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.

Ocean Renewable Power Company announces plans to generate renewable energy in Alaska with Tidal Generators

Ocean Renewable Power Company (ORPC) – who planned to build a tidal generator in Nikiski – has announced their interest in a second tidal site. The company hopes this second site can harness the strong tides in the inlet to power machinery at Port MacKenzie, across Knik Arm from Anchorage.

ORPC is familiar with Alaska’s tides and their ability to create power as they already have a freshwater hydrokinetic generator in Igiugig on the Alaska Peninsula. However, this new development will be the first generator in saltwater in Alaska.

Merrick Jackinsky, ORPC Development Director, who’s based in Anchorage, said the generator could fully power the machine that keeps the dock at Port MacKenzie from corroding into the inlet – called a cathodic protection system. He estimates the project could create 80 kW of power for that machine.

Saltwater poses its own challenges for tidal tech and will require some extensive R&D to get it functioning as needed. The mechanisms will be similar, using the in and out motion of the tide to spin turbines which are connected to an underwater generator. This energy source could be more dependable as the tides are much more predictable than solar and wind.

Jackinsky said ORPC looked at Port MacKenzie as a project site a while ago. But at the time, there wasn’t a lot of information about the Cook Inlet belugas in the upper inlet, which is why the company turned its focus to the site in Nikiski.

Since then, he said, there’s been more research about the belugas there and more interest in renewables from the Matanuska-Susitna Borough, which owns the port.

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.

Purnovate Collaborates with Medical College of Wisconsin

Purnovate, Inc. – a subsidiary of Adial Pharmaceuticals, Inc. – has announced their collaboration with the Medical College of Wisconsin, a leading medical school, and Dr. John Auchampach, PhD, Professor and Vice Chair of the Department of Pharmacology and Toxicology. The collaboration aims to further evaluate the Company’s proprietary adenosine analogs as potential treatments for diabetes and non-alcoholic steatohepatitis (NASH).

The company is focused on developing novel molecules to target the adenosine receptors for the treatment of major unmet medical needs. Under the new agreement, Dr. Auchampach and his team will test Purnovate’s adenosine compounds in preclinical models.

Dr. Julien Dimastromatteo, Purnovate’s Vice President, Research, commented, “We are honored to partner with the Medical College of Wisconsin and Dr. Auchampach, a leading researcher in the field of adenosine, purinergic pharmacology and G-Protein-Coupled receptors. Adenosine analogs have been studied extensively by Dr. Auchampach and others, demonstrating tremendous promise in animal models. However poor biodistribution of historical compounds, likely due to poor solubility, has limited their usefulness as human therapies. Our Purnovate adenosine analog compounds were specifically designed to overcome these solubility and biodistribution challenges, with strong supporting data thus far. As a result, we are encouraged by the therapeutic potential of these compounds and will work to rapidly identify a lead compound to bring forward as a drug candidate.”

The adenosine compounds are meant to provide a safe, oral therapy option to reduce overall body mass and liver fat content while restoring healthier glucose levels. The company believes their compounds could hold significant potential as an alternative therapy for diabetics, pre-diabetics, and overweight individuals.

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.

Virongy Expands Focus Beyond HIV and COVID-19

Virongy, a Virginia biotech company, intends to expand their scope beyond their HIV and COVID-19 research. With millions of people being afflicted by viral illnesses worldwide each year, Virongy’s objective addresses an ever-increasing market need.

“Our goal is to create advanced diagnostics so that doctors can promptly prescribe treatments to patients,” said Brian Hetrick, chief scientific officer of Virongy.

The company already made striking advancements in HIV and COVID-19 research through the development of virological reagents and tools. These developments include:

HIV Rev-dependent Lentiviral Vector
- Able to selectively express therapeutic genes only in HIV-infected cells, providing the potential to develop therapeutic vaccines to target HIV reservoirs
HIV Rev-dependent Reporter Cells
- State-of-the-art HIV-indicator cells. The incredibly high specificity and accuracy in quantifying HIV infection improves anti-HIV drug screening, antibody screening, and anti-HIV compound screening.
Ha-CoV-2 and Ha-CoV-2 Variants
- Ha-CoV-2 represents a major technology advancement in the development of SARS-CoV-2 pseudoviruses, and serves as platforms for rapid and robust quantification of neutralizing antibodies, viral mutants, and antiviral drugs.

To support this growing scope of focus, Virongy has moved to a 1,600 sq ft bioscience lab within the new Northern Virginia Bioscience Center. Next steps include obtaining Good Manufacturing Practices (GMP) certification in order to open a GMP lab. The certification ensures that all products produced in the lab are safe and effective, as well as expedites the FDA approval process for any products the company intends to bring to market. Virongy anticipates having GMP certification within the next several months.

Are you developing new biotechnology 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.