Industry – Page 5 – Swanson Reed | Specialist R&D Tax Advisors

Blue Comply Wins Fargo Regional Pitch Comp

Wyoming Patent of the Month - November 2021

Blue Comply has won Grand Farm’s Fargo Regional Pitch Competition. The event was organized by Pegasus Tech Ventures and highlighted six different startups all looking to secure a spot at the Startup World Cup competition in San Francisco. Troy Verberg, founder of Blue Comply and regional winner, will have the opportunity to pitch at the global event on October 4th in San Francisco.

The Fargo Regional Pitch Competition was held at the Grand Farm Innovation Campus just west of Casselton, North Dakota.

Blue Comply develops tools and tools for the Oil & Gas industry. Their focus is on improving detection of fugitive methane leaks by targeting thief hatches. These hatches account for the majority of methane leaks on well sites, so improving the time to detection goes a long way in reducing waste emissions. Their IMSA Detection system is a wireless IoT device integrated into a storage tank thief hatch to detect methane leaks.

The Startup World Cup is the largest startup competition globally, offering startups a chance to win a $1 million investment. The 2024 pitch will take place October 4th in San Francisco.

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.

Pairwise Secures $40M in Series C Funding

Massachusetts Patent of the Month - June 2021

Pairwise, a gene editing technology focused on improving plant breeding, has closed a $40M Series C funding round led by Deerfield Management.

The company plans to use the funding to further their research in improved breeding in commodity crops. In particular, they plan to scale their product pipeline for their berries and pitless cherries. They also plan to advance their Fulcrum ™ Platform. Pairwise’s new seedless blackberry variety, announced in June, will deliver an improved eating experience for consumers and, in concert with compact architecture and thornless traits, bring added benefits to farm workers, growers, and the environment as well.

“We started Pairwise in the early days of CRISPR to accelerate innovation across agriculture, enabling the cultivation of crops that are more adaptive to climate change, and more nutritious and convenient for consumers, all while bolstering grower economics,” said Tom Adams, Pairwise Co-Founder and CEO. “This new investment will enable us to expand the impact of our proprietary Fulcrum Platform as we continue to lead this transformation with our proven ability to deliver novel solutions that address the most pressing challenges in agriculture today.”

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.

Aembit Secures $25M in Series A Funding

Using Wi-FI? Here are three things you need to know about the KRACK in the system

Aembit, a leading non-human identity (NHI) IAM startup, has secured $25 million in Series A funding, bringing the total capital raised to nearly $45 million.

Aembit is a non-human Identity and Access Management (IAM) company focused on developing SaaS solutions to manage all the non-human access steps. That means the use of identity, policy-based, and MFA controls. Their goal is to bring improved cybersecurity to entities, limiting credential theft and loss.

This new funding comes after an increase in cybersecurity attacks including non-human identity attacks on Cloudflare, The New York Times, and Microsoft. NHI refers to the applications, scripts, and bots that businesses routinely use to automate their operations. These NHIs use credentials to communicate with sensitive databases, applications, and infrastructure. When compromised, hackers can access secrets like API keys, access tokens, and more.

Aembit’s solution is aimed at improving management of these NHIs. Leveraging native identities and sophisticated automation, organizations use Aembit to eliminate storage of sensitive secrets within applications or vaults by moving to short-lived access tokens with a no-code auth approach. With Aembit, businesses proactively secure non-human access while eliminating the manual and fragmented work required today by security, engineering, and DevSecOps teams.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Last Energy Closes $40M Series B Funding Round

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

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

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

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

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

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

BioLabs and UVM to Open New R&D Incubator

The University of Vermont (UVM) and Cambridge-based BioInnovation Labs (BioLabs) have announced plans to launch a dedicated incubator at UVM’s Colchester facility.

The partnership will provide a space to support entrepreneurs and start-up companies specializing in all areas of life sciences R&D with fully equipped combination office and laboratory space.

Through this strategic partnership, UVM will oversee the new facility and provide technology, equipment, and direct collaboration with faculty at The Robert Larner, M.D. College of Medicine at the University of Vermont. The college includes nearly 200 research faculty and over 700 clinical faculty who practice in the UVM Health Network. BioLabs will support UVM with facility operations, access to industry partners, and networking and programming events.

Currently, BioLabs partners with an elite group of universities, pharma companies, and other engaged stakeholders worldwide. The UVM-BioLabs partnership reinforces the university’s steadfast commitment to research, education, and innovation. Additionally, UVM is the first rural university to join the BioLabs ecosystem.

Although the Center is expected to open in late 2025, the BioLabs Innovation Center at UVM will begin accepting applications and hosting tours in the coming months.

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.

Melodi Health Secures $10.75M in Series A Funding

Melodi Health, a Minneapolis-based medical device company, has secured $10.75 million in Series A funding which saw participation from HM Venture Partners, Engage Venture Partners, Southeast Minnesota Capital Fund, and Three Bridges Private Capital.

Melodi Health plans to direct the new funds towards clinical activities and additional product development efforts that align with their mission of transforming reconstructive surgery for women.

At present, 1 in 4 breast reconstructions experience complications. With 157,000 women choosing breast reconstruction after mastectomy each year, this is a high number of women experiencing complications each year.

So far, Melodi Health has developed their Melodi Matrix™, a clinical stage soft tissue support device that elutes antibiotics and absorbs into the body. This delivers soft tissue support immediately after reconstruction.

The company also announced the launch of the “ARIA” investigational device exemption (IDE) trial, a multicenter, nationwide, randomized, controlled study evaluating the safety and efficacy of the Melodi Matrix™ to support an FDA Approval for an indication in breast reconstruction. The Melodi Matrix technology was licensed from Medtronic.

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.

Insignum AgTech Wins Pitch Contest

Insignum AgTech is among the five winners announced in Elevate Ventures’ second annual In-Prize pitch contest. Each winner scores the potential for up to $1 million in funding for each of the winners.

Insignum won based on their gene editing technology which enables plants to change color when stressed. A changed color can alert farmers to early signs of problems like disease or insect attacks.

Insignum’s solution not only alerts farmers to problems earlier, it removes the guesswork. With this type of reliable detection, farmers treat their crops exactly when, precisely where, and only if necessary.

Per contest rules, each of the five IN-Prize winners has the chance to land up to a $1 million investment, which includes up to $500,000 in co-investment from Elevate Ventures. A company that secures $500,000 from other investors, for instance, will be eligible for a $500,000 investment from Elevate Ventures.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Reflect Orbital Plans to Light Up Our Lives

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

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

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

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

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Chilly Dip Ice Spas Secures Finalist Spot in Casper Start-Up Challenge

Chilly Dip Ice Spas has been named a finalist in the 2024 Casper Start-Up Challenge.

Chilly Dip was founded by three friends, including Casper-resident Josh Kalinowski. Kalinowski played minor league baseball for years and has become intimately familiar with using ice baths to deal with the aches, pains, and injuries of the sport.

The startup has designed their own ice bath that fights the challenges most present. An ice bath tub is usually too small, too inconvenient, too uncomfortable and way too expensive. The Chilly Dip, as its name implies, is a versatile “tub” that can be used at home, on the go, at gyms or sporting events, in a backyard or garage or, really, anywhere one could think of.

“We want to have a product that represents the heart of Wyoming,” Kalinowski stated at the Casper Start-Up Challenge. “We’ve got great people in our state and we’ve got great manufacturing here. We’ve got people here that build wonderful, durable, long-lasting products that they can stand behind. And I believe, with the Chilly Dip, that we’ve created something that represents the state of Wyoming in all the best ways. This is going to bring jobs to the state. It’s going to bring opportunities. It’s going to bring notoriety to the state, specifically to Casper.”

The company has already designed three versions to maximize accessibility. The OG Chilly Dip is mostly stationary and can be hosted in a garage, backyard or gym, but the Chilly Dip MD and Lil’ Dip are inflatable and portable and perfect for on-the-go CWI therapy.

The Chilly Dip is one of five finalists in the Casper Start-Up Challenge, which, according to the Advance Casper website, exists to help “new, independent businesses in the seed, start-up, or early growth stages in Natrona County.” The top three winners of the Casper Start-Up challenge will receive seed money, in addition to marketing, networking and mentorship assistance throughout the challenge and beyond.

Kalinowski and his team will present the small business plan for the Chilly Dip during the 2024 Casper Start-Up Challenge Pitch Night, happening on Sept. 5 at Frontier Brewing Company. The Pitch Night starts at 5:30 p.m. and the public is welcome to attend and hear Kalinowski, as well as the other finalists, pitch their start-ups to a select, diverse panel of judges.

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.

Whisper Aero Scores NASA Contract

Tennessee’s space startup, Whisper Aero, has announced a new NASA contract to design an extremely quiet fan.

Crewed spacecraft – from station modules to transportation vehicles – are surprisingly loud. Hooked up with life support systems, electronic fans, radios and more, the spacecraft is ringing with noise at all hours. NASA has some concerns about this constant noise and the effect of its exposure on their astronauts.

Whisper Aero’s quiet fan will aim to reduce this overall noise exposure and make space a safer environment for astronauts. The company scored the contract after making a name for themselves with a proprietary ultra-quiet electric propulsor.

At the end of the six-month effort, the startup is aiming to have prototype parts to show to NASA; if the agency deems this Phase 1 project successful, Whisper would likely move on to test a design prototype next year.

After a successful first phase, Phase 2 will compare the acoustic and aerodynamic estimates from this project to the standard NASA Spacecraft Cabin Ventilation Fan. NASA has developed a fan that achieves 66 decibels (dB) at two feet. Whisper Aero is aiming to meet or exceed 61 dB – while also being 75% more efficient.

Given the environment the fan will be in – which is outerspace – a direct translation of their already quiet propulsion technology will not be possible. Whisper Aero will need to address a few challenges that space introduces. For instance – the fan may need to run for much, much longer than their existing propulsor.

Noise is “a challenge that often is forgotten until it’s too late, and then you can’t change it,” Whisper Aero COO Ian Villasaid. “You can’t fix it. We’ve seen this time and time again on aircraft. It’s almost refreshing to see this in spacecraft, in that they’re actually trying to do something about it at NASA.”

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.