Iowa Recent News – Swanson Reed | Specialist R&D Tax Advisors

Phagelux AgriHealth Announces Phagelux Animal Health

Phagelux AgriHealth has launched a new subsidiary – Phagelux Animal Health – focused on developing innovative products for the animal health industry based on bacteriophage technology.

The new subsidiary will be based in Ames, Iowa and will conduct extensive research into bacteriophage technology. Bacteriophages are natural viruses that target and eliminate specific pathogenic bacteria to reduce disease in animals, enhance productivity in protein production, and improve food safety. Phagelux Animal Health intends to harness the power of bacteriophages to improve the health of livestock without the need for antibiotics and heavy chemicals. Phages are completely safe and non-toxic, enhancing sustainability and reducing the risk of antimicrobial resistance.

“We are excited to launch Phagelux Animal Health and contribute to the animal health industry with our expertise in bacteriophage technology,” said Mark Engel, CEO of Phagelux AgriHealth. “Our new base in Ames, Iowa, will allow us to leverage the local scientific community’s strengths and drive the development of new, effective solutions that meet the needs of the global livestock market.”

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.

BrokerTech Ventures Welcomes Accelerator Applications for Insurance Tech

BrokerTech Ventures have announced the opening of applications for the 2024 cohort of the BrokerTech Ventures Accelerator, marking a significant stride in reshaping the future of insurance technology. BrokerTech is the industry’s first broker-led convening platform and accelerator program.

BrokerTech Ventures’ commitment to innovation is evident in its strategic accelerator program. The initiative serves as a crucible for fostering groundbreaking ideas and solutions that have the potential to revolutionize the insurance industry. As the 2024 cohort applications open, the stage is set for a new wave of insurtech innovators to join the ranks of this dynamic accelerator.

The accelerator program provides a nurturing environment for startups to explore cutting-edge technologies, refine their offerings, and bring novel solutions to market. By actively fostering collaboration between startups and established players in the insurance industry, BrokerTech Ventures creates a vibrant ecosystem where ideas are exchanged, and innovations are accelerated. This collaborative approach not only propels the participating startups forward but also contributes to the overall evolution of the insurtech landscape.

As the applications open for the 2024 cohort, BrokerTech Ventures cements its position as a catalyst for positive change in the insurance technology sector. The 2024 cohort will be the fifth cohort and will bring in the top 20 startups in early March. The Selection Series will be a virtual event where BTV partners can dig deeper into the products, companies, and teams. Subsequently, the cohort will begin the five-week Accelerator program in April 2024. More than $500,000 in funding is at stake for the selected broker-centric, seed and early-stage startups, with each startup receiving $50,000.

The deadline for submissions is December 18, 2023. Submissions can be made here.

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

Who We Are:

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

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

Revolutionizing Agriculture: EnGeniousAg’s Instant Nitrate Sensors

Agtech sensor startup EnGeniousAg has secured a $1 million grant from the National Science Foundation. Their innovative in-field nitrogen sensors are poised to transform the agricultural industry, revolutionizing fertilizer application and boosting both farmer profitability and environmental sustainability.

Nitrogen fertilizer is a costly input for corn farmers, with over $1 billion wasted annually. EnGeniousAg’s cutting-edge sensors measure nitrogen levels in crops in just three seconds, allowing farmers to make same-day nitrogen application decisions. By eliminating the need for costly lab testing and addressing excess nitrate runoff, EnGeniousAg sensors reduce the environmental impact of agriculture while enhancing farmer profitability.

EnGeniousAg’s revolutionary sensors offer a superior alternative to traditional soil nitrate tests. By directly measuring nitrate levels in plants, these sensors accurately identify the 10-30% of corn acres that won’t benefit from nitrogen fertilizer application. This breakthrough has the potential to save farmers up to $6 billion annually without compromising crop yields. EnGeniousAg’s sensors empower farmers with precise data, enabling them to apply fertilizer where it’s needed most, maximizing efficiency and reducing waste.

The company’s $1 million National Science Foundation Phase II Small Business Innovation Research grant signifies recognition and support for their groundbreaking work. This funding will facilitate large-scale field tests of corn grown under varying fertilizer application rates, validating and refining EnGeniousAg’s predictive model. By translating nitrate levels in corn stalks into fertilizer application recommendations, this research will enhance the company’s technology and pave the way for widespread adoption in the industry.

EnGeniousAg has partnered with precision agriculture companies Premier Crop Systems and Soil View to conduct field tests across multiple locations. By leveraging their expertise and resources, these collaborations will provide valuable insights into different nitrogen fertilizer application levels. This collaborative effort will work to ensure the reliability and versatility of EnGeniousAg’s technology, further strengthening its potential to transform farming practices and improve outcomes for farmers.

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.

SAFI-Tech and Indium Corp. Partner Up for SAFI-Tech’s Supercooled Soldering Technology

Iowa-based SAFI-Tech has announced a partnership with Indium Corporation. SAFI-Tech has set their sights on developing a no-heat and low-heat solder and metallic joining products. This partnership will bring this technology to customers, allowing them to explore the unique opportunities available with supercooled solder materials.

Their technology is a supercooled liquid metal particle which can allow manufacturers to solder on flexible substrates without the need for heat. The liquid particles are about one-fiftieth the size of a human hair and are filled with liquid metal. When popped, the particles release the encapsulated liquid metal which quickly solidifies, creating a solder joint. This unique process allows soldering to take place at room temperature. Removing heat from electronics manufacturing enables smaller, thinner, and flexible designs, currently unachievable with standard materials and processes.

This partnership has come just two years after SAFI-Tech was awarded an SBIR grant of $200,000 from the Department of Energy for research into their supercooled liquid metal technology.

“We’re always looking for innovative materials solutions that can give our customers ways to overcome current limitations of solder products,” said Indium Corporation President and COO Ross Berntson. “SAFI-Tech’s supercooling platform is a unique approach that has the potential to be a solution across a variety of applications.”

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.

Mazen Animal Health Secures $11M in Series A Funding

Mazen Animal Health, an Iowa-based startup, has secured $11 million in their Series A funding round, with investors such as AgFunder and Fall Line Capital.

Mazen is set on improving agricultural animal health by developing orally administered vaccines. These novel biological vaccines and therapeutics have the potential to disrupt the status quo of aghealth and address complex or unsolved challenges in animal health and protein production.

True to its name, Mazen’s technology uses plants, like maize, as molecular farms to produce the protein ingredients for its vaccines. This corn-based formulation is significantly cheaper than the typical precision fermentation process in expensive bioreactors. The cost-effectiveness of their process helps to combat the razor thin margins faced by farmers. With the vaccine being orally administered, it can also cut costs needed to effectively deliver the vaccine. Their formulation can be incorporated into animal feed and delivered as usual rather than individually injecting each animal.

The Series A funding round followed the company’s progress in combating Porcine Epidemic Diarrhea Virus (PEDV). This virus is deadly for newborn pigs and has been problematic for farmers since 2013. The funding will help support the efficacy studies of their PEDV vaccine to acquire approval by the USDA.

The funding will also help with plans to scale up their ability to manufacture the vaccine at commercial scale, while advancing a pipeline of other vaccines such as one for coccidiosis in poultry among others.

“Our investors are seeing the tremendous potential of the technology platform to deliver better vaccines more efficiently,” said Jennifer Filbey, CEO of the company. “In fact, the technology can help achieve better animal health through disease prevention – rather than treatment – and improve economics, stewardship, and sustainability.”

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.

IEDA Awards Funding to Four Iowa Startups

The Iowa Economic Development Authority (IEDA) has approved innovation funding for four local Iowa startups. This funding totals $275,000. They also approved awards for the established company, Ag Processing Inc. which should result in $71.1 million in new capital investment for the state.

Mazen Animal Health, Inc

Mazen Animal Health develops oral animal vaccines to prevent animal disease. These vaccines are edible, formulated to be dosed with feed in order to simplify the animal vaccination process and provide a cost-effective, room-temperature option for animal vaccines.

The company was awarded $125,000 from a Demonstration Fund loan for IP development and evaluation and will also contribute to marketing planning, entry activities, staff costs and more.

NanoSpy, Inc

NanoSpy produces biosensors for rapid detection of Salmonella in food processing facilities. This detection method aims to reduce the economic impact of foodborne illness. Current processes require a two-day period before lab results are finalized. NanoSpy’s technology should allow for near real-time decisions.

They were awarded a $25,000 Proof of Commercial Relevance (POCR) loan.

Townhall, LLC

This EdTech software development company is focused on creating desktop-based apps to improve video conferencing. Their goals are to increase engagement during large remote meetings regardless of platform and will achieve this through gamification and instant feedback.

Townhall received a $25,000 POCR loan.

Lola’s Fine Sauces, Inc

Starting from a family’s secret hot sauce recipe, Lola’s Fine Sauces has expanded to seven sauces, five salsas, a seasoning mix, and a Bloody mary mix. They have engaged in constant formulation and testing to reach the point of selling products in more than 10,000 stores nationwide.

The company was awarded a $100,000 Demonstration Fund loan to refine their product and further their commercialization.

Are you developing new software 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.

Greenfield Nitrogen Partners Up to Build Green Hydrogen and Ammonia Facility

Hawaii Patent of the Month - August 2021

NextChem, a subsidiary of Maire Tecnimont, is focused on the field of green chemistry and technologies for the Energy Transition. Recently, NextChem, along with Maire Tecnimont’s other subsidiaries MET Development and Stamicarbon, have reached an agreement with Greenfield Nitrogen, LLC to develop the first dedicated green ammonia plant in the US Midwest, specifically in Iowa.

Greenfield Nitrogen is working on developing a crucial network of green hydrogen and ammonia facilities along the Midwest to serve the emerging renewable energy markets. With the new advancements in electrolysis technology, their plant design is a completely green, carbon free hydrogen and ammonia facility which will use 100% renewable energy as well as significantly less water than conventional hydrogen and ammonia production.

To kickstart this agreement, NextChem will start a feasibility study for the 240 tpd green ammonia project, using renewable energy as feedstock through the intermediate production of green hydrogen. MET Development will assist Greenfield Nitrogen in the development throughout the project. Stamicarbon will provide the ammonia technology used in the plant.

This green ammonia plant will strengthen the development of the low carbon industry in the region. The companies estimate it will save over 166,000 tpy of CO2 emissions. Since it will also produce approximately 83,000 tpy of ammonia, it will reduce the dependency on importing ammonia from abroad and further reduce the carbon footprint for the industry.

Linda Thrasher, President, Greenfield Nitrogen, LLC commented: “This partnership represents a collaboration of strengths. As a development partner, Maire Tecnimont and its subsidiaries bring decades of expertise in successfully designing and executing nitrogen projects as well as creating new technology, including state-of-the-art zero-carbon facilities. Greenfield’s development expertise, operational experience, and market knowledge align well and position both companies to play a critical role in meeting the world’s decarbonization goals.”

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.

Research Finds Electromagnetic Fields Could Be Used To Treat Diabetes Remotely

Researchers at the University of Iowa Health Care have discovered a new way to treat blood sugar non-invasively. The team found that exposure to static electric and magnetic fields normalized blood sugar and insulin resistance, meaning it may be possible to treat type 2 diabetes with electromagnetic fields (EMFs).

In the study, Calvin Carter, PhD, and Sunny Huang, an MD/PhD student, exposed mice to EMFs for a few hours per day. Their results indicated that EMFs alter the balance of oxidants and antioxidants in the liver, improving the body’s response to insulin. With lasting effects on blood sugar and insulin levels seen, the discovery opens up the possibility of treating type 2 diabetes even overnight, as opposed to the current cumbersome treatment regimes.

While the discovery is major, the study was almost accidental. Huang was practicing taking blood from mice and measuring blood sugar levels, and Carter offered mice he was using to study the effect of EMFs on the animals’ brain and behaviour. The mice, which had a genetic modification that made them diabetic (and therefore would have high blood sugar levels), had normal blood sugar levels upon testing. From this, the project began. The study found that static magnetic and electric fields modulated blood sugar, and exposure during sleep reversed insulin resistance within three days of treatment.

EMFs these days are used in anything from mobile devices to MRI and EEG machines. However, their impact on human biology is not fully understood. In researching the topic, Carter and Huang found that many animals (e.g. a number of species of birds) sense the Earth’s electromagnetic field and use it for navigation. This pointed to a quantum biological phenomenon whereby EMFs may interact with specific molecules in the body. Some of these molecules are oxidants, which are studied in redox biology, which looks at the behavior of electrons and reactive molecules that govern cellular metabolism. The team collaborated with redox biology experts to better understand an oxidant molecule called superoxide, which plays a role in type 2 diabetes. The experiments suggest that EMFs alter the signaling of superoxide molecules, specifically in the liver, which leads to the prolonged activation of an antioxidant response to rebalance the body’s redox set point and the response to insulin.

Because of the success from the mice trials, the team also treated human liver cells. After six hours of EMF treatment, the cells’ surrogate marker for insulin sensitivity improved significantly, suggesting that the EMFs may also produce the same anti-diabetic effect in humans. The study has now moved onto larger animals, with a goal of human trials, and providing this as a viable solution for people. Carter and Huang, along with Carter’s brother Walter, have founded Geminii Health, to develop wearable devices with this technology.

Are you developing a new treatment, product or process? Did you know your R&D experiments could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? 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 CPA’s. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

How Does Your State Rank on the Innovation Scale?

Innovation Is Key

Innovation is crucial to sustainable economic growth, but for innovation to occur businesses must have both the incentive and the capacity to invest.

As innovation is key to the United States’ economy as a whole, many U.S. states are showing off while others are falling short when it comes to patents, R&D, venture capital and academics.

So which states are excelling in innovation and which ones are lacking, you ask?

Patents

The top states in patents per population include:

Wisconsin
Washington
Texas
Utah
California
Massachusetts

The bottom five patented states include:

Alaska
Mississippi
Tennessee
West Virginia
Wyoming

Venture Capital

The top states for venture capital are:

Massachusetts
California
Utah
Washington
Colorado

The lowest are:

Arkansas
Alaska
Hawaii
Wyoming
Iowa
South Dakota

R&D Spending

The leaders in R&D spending are:

Delaware
Michigan
California
Connecticut
Massachusetts

The states that spent the least on R&D include:

Arkansas
Wyoming
Louisiana
Alaska
Mississippi

Academics

As for academics, the top states include:

New Mexico
Maryland
Rhode Island
Massachusetts
Alabama

The lowest academic rankings were for:

Louisiana
Arkansas
Delaware
Wyoming
Nevada

If you are a U.S. based company conducting R&D you may be eligible for the federal and/or state research tax credit. Please contact a Swanson Reed representative to find out further information.

State of the art R&D center opens in Iowa

The University of Iowa is now home to a state of the art research and development center. Applied Food Science (AFS), recently opened the multi-million-dollar R&D center in Iowa City, which consists of molecular biology labs, advanced analytical and material research laboratories, and a pilot production plant.

AFS are a natural ingredient supplier specializing in botanical extract for food, beverages and supplements. AFS source their ingredients in a manner which is both sustainable and socially responsible. The company seeks to create a solution for producing the healthiest organic products imaginable.

AFS are excited about the plans in store for the company’s endeavors to converge science with food. The primary R&D goals will consist of fostering the growth of plant-based science and testing how the evolution of food fits into the current and future food supply. These research outcomes will assist in not only continuing to feed the growing population, but also providing a healthier and more nutritionally sound food source.

AFS see the University of Iowa to be a great location to base their innovation center, as it beneficially positions them closer to farmers who feed the community, and processors who utilize plants for added-value end products. Additionally, the University of Iowa are renowned for their diligent work ethic, professionalism and innovative culture in the areas of biotechnology and food science, therefore the fit between the two industries deemed as appropriate.

Loretta Zapp, CEO of AFS, states that the following center is evidence of the company’s commitment to its customers and the enhanced value the company seeks to bring in their products. The R&D center will create an ideal environment to foster collaborative teams with the mission of touching all aspects of how food science advances can produce long term benefits in people’s health and wellness. Zappo is optimistic that the research outcomes will add even more value to the current offerings that include supply chain sustainability, innovation, formulation and manufacturing support.

To learn more about the Iowa R&D credit or the federal credit, contact a Swanson Reed specialist by clicking here.

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