Industry – Page 3 – Swanson Reed | Specialist R&D Tax Advisors

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.

Northwood Space Passes First Test in Space Communication

TulsaLabs and AI VentureTech Join Together for Space Research

Bridgit Mendler’s startup, Northwood Space, has passed its first major development test by connecting with Planet Labs imagery satellites in orbit. The startup, based in El Segundo, California, aims to provide a data highway between earth and space.

“We’re building this global network to send data for satellites, built off of phased array technology that we have now successfully validated, both in the lab and in the field,” Mendler, Northwood’s CEO, told CNBC.

The company develops ground stations which, once successful, will be mass-produced. Designed with a phased array-based system, they hypothesize that their approach will outperform the parabolic dish antennas traditionally used in ground stations.

Prototype testing took place in Maddock, North Dakota. The prototype antenna was positioned and a connection established using telemetry, tracking, and control methods. The test was two-fold, evaluating connectivity in both S-band and X-band frequencies. Planet Labs heralded Northwood’s test as a “major milestone.”

“We were able to achieve bi-directional communications for the full duration of a pass with Planet’s satellites and achieved nominal communications for them. They were able to perform their operations as they would on their own system,” said Bridgit Mendler, CEO.

The company plans to deploy Portal sites that can support as many as 10 simultaneous satellite connections, with data rates over 1 gigabit per second per beam, beginning next year. Northwood is currently assessing locations in the U.S., Europe, Australia and New Zealand for its first Portal sites.

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.

Got Moops Launches Lactase Enzyme Syrup

Got Moops, LLC, a startup based in South Jersey, launched to market at the start of October. The company was founded by Jess Edelstein, an entrepreneur known for her success on Shark Tank nearly a decade ago.

Got Moops has developed a proprietary lactase enzyme syrup to help those who suffer from lactose intolerance continue to enjoy their favorite drinks and foods. The product can be eaten directly or added into other foods. At present, the startup offers a sweet vanilla, strawberry milkshake, salted caramel, orange creamsicle, and an unflavored variety

The company developed the product using an organic tapioca syrup combined with an acid lactase. When consumed, the syrup delivers 10,000 chemical codex acid lactase units per serving. This lactase enzyme aids the digestion process, ensuring lactose can be broken down and digested.

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.

TensorWave Secures $43M SAFE Funding

Nevada-based TensorWave has secured $43 million in a SAFE funding round – or a “Simple Agreement for Future Equity”. Startups use SAFEs to receive funding without determining a valuation or issuing equity immediately.

The cutting-edge cloud platform and AI startup has been fighting to break NVIDIA’s control over the AI industry by building alternative solutions that rival both performance and price. The SAFE funding will enable TensorWave to increase its data center capacity by deploying thousands of AMD Instinct MI300X GPUs. The company will also expand its team and develop its new inference platform.

TensorWave aims to meet the increasing demands in the global AI market, projected to soar from $196.63 billion in 2023 to $1.81 trillion by 2030. With their cloud service, TensorWave provides essential infrastructure for future AI applications.

TensorWave CEO Darrick Horton noted the importance of this funding for scaling operations, stating, “This funding allows us to significantly scale our team and deploy thousands of AMD Instinct AI accelerators to empower the startups and enterprises shaping our technological 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.

Alaska Airlines and UP.Labs Launch First Startup

Odysee, a software platform, is the flagship startup launched by UP.Labs in partnership with Alaska Airlines in 2023. The startup launched with $5 million in seed funding led by UP.Partners.

The startup is leveraging artificial intelligence (AI) to optimize flight schedules. The company is able to run hundreds of simulations in seconds, performing stress-tests for future schedules. The idea is that the system could enable airlines to make informed real-time tradeoff decisions to improve operational logistics. The platform will ensure the best use of each aircraft asset and the interconnections between them, empowering teams to more effectively optimize one of the most complex areas of an airline’s business.

This AI-powered flight schedule optimization solution marks a significant milestone in the journey that began at last year’s UP.Summit. Last year, the two companies announced their partnership and set a vision to solve core strategic challenges for the aviation industry with new companies that help unlock the future in transportation and mobility.

“What sets Odysee apart is its ability to help airline schedulers assess the various tradeoffs that come with certain schedule changes, allowing them to make more informed choices in building comprehensive flight schedules,” says Odysee Chief Executive Officer, Steve Casley. “Our team is excited about the power and efficiency this technology will provide to Alaska Airlines and all future customers and the opportunity to continue building out its functionality.”

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.

Noblis Secures Space in New NASA Contract

Noblis, Inc. has been selected as a key teammate on a new NASA Academic Mission Services 2 (NAMS-2) contract. The five-year, $121 million contract is being led by Crown Consulting, Inc. with plans to provide aerospace and technology research and development (R&D) support for NASA’s Ames Research Center.

“We are excited to join this collaborative team of experts across government, industry and academia,” said Mile Corrigan, Noblis’ president and CEO. “Noblis’ commitment to innovation and excellence aligns with NASA’s goal to advance new technologies from R&D to mission ready.”

Noblis has experience across a broad spectrum of industries and has previously worked with a wide range of government clients in the defense, homeland security, intelligence, law enforcement and federal civil sectors.

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.

Legend Biotech Announces New Cell Therapy R&D Facility

Legend Biotech has plans to open a new R&D facility in Philadelphia with plans to advance its portfolio of next-generation cell therapies. The company is studying its experimental cell therapies, which are in early-stage development, to treat different types of cancers.

If all goes according to schedule, the new 31,000 sq ft facility will be completed in the third quarter of 2025 and will open up 55 new full time positions in the area.

The company’s R&D efforts focus on cell therapies to help strengthen patient’s immune systems. With a stronger immune system, the body can better fight against disease on its own. The company is exploring various technologies to treat both blood and solid cancers – from autologous chimeric antigen receptor T-cell therapy (CAR-T) to allogeneic CAR-T, natural killer (NK) cells and gamma-delta (γδ) T cells.

The life science firm has multiple BCMA-directed autologous therapy candidates in Phase 1, 2, and 3 stages. Their autologous and allogeneic therapies are in preclinical and Phase 1.

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.

Atkis Oncology Secures $175M in Series B Funding

Aktis Oncology, a biotech firm focused on radiopharmaceuticals, has secured $175 million in funding following the close of a Series B funding round. The round was led by RA Capital Management with participation from RTW Investments and Janus Henderson Investors.

The company plans to use the funding to continue the development of new therapies.

“The overwhelming support from high caliber investors underscores the progress we have made on our pipeline, platform and supply chain capabilities, exemplified by the significant opportunity for AKY-1189, our first-in-class mini-protein alpha radioconjugate targeting Nectin-4 in development for several tumor types,” Matthew Roden, PhD, president and CEO of Aktis Oncology, said in a Sept. 30 announcement. “With over $300 million in cash, we are well-positioned to prosecute several opportunities to expand the benefit of this exciting modality into new patient populations.”

Atkis Oncology’s radiopharmaceutical technology offers precision targeting to deeply penetrate tumors. The precision targeting delivers alpha particles – which have 1000x the cancer-killing potency of beta particles – to the tumor, inducing double strand DNA breaks. With this approach, the company is overcoming the challenges of conventional cancer treatments – from chemotherapy to antibody drug conjugates.

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.

HeartX Selects Four Startups for 2024 Accelerator Program

HeartX, an Arkansas startup accelerator, has selected four startup healthcare companies to participate in their 2024 cohort. The accelerator is powered by HealthTech Arkansas and MedAxiom with the goal of assisting startups in bringing new cardiovascular technology to market.

The selected companies include:

Caristo with their Caristo Diagnostics CaRi-Heart® Technology focused on detecting and quantifying hidden coronary inflammation.
Haermonics which develops solutions to address bleeding-related post-operative challenges.
MultiplaI Health which develops precision diagnostic technologies using RNA-based blood tests and artificial intelligence.
Peterbridge Health and their Cor technology – a unique ambulatory ECG monitor that combines best-in-class signal fidelity with explainable AI to detect heart failure, determine ejection fraction, diagnose sleep apnea, and identify 31 arrhythmias.

“We are thrilled to welcome this year’s cohort of innovative companies to the HeartX program,” said Jeff Stinson, director of HealthTech Arkansas. “Each of these startups brings groundbreaking technology that has the potential to transform cardiovascular care. Through our unique model, which guarantees pilot projects and clinical trials with leading healthcare providers, we are confident that these companies will make a significant impact in advancing heart health.”

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.