Maine – Swanson Reed | Specialist R&D Tax Advisors

Northeastern University Launches New ClimateTech Incubator

A new ClimateTech Incubator from Northeastern University’s Roux Institute has been launched with the aim of supporting startups and spurring green job growth in the state.

The state Governor’s Energy Office provided part of the seed-funding and set a goal to see 30,000 clean energy jobs by the end of the decade.

“Opportunities like this are going to help us meet those targets. It’s good for our clean energy future, it’s good for our environment, and it’s good for our economy too,” Director Dan Burgess said.

The accelerator brings a dozen climate and environment-focused start-ups to the Portland-based program, where they’ll have access to prototyping spaces, mentorship opportunities, investors, and academic and business help.

The incubator has already selected its first round of startups, including Bluebel, a sustainable battery management startup. Bluebel is hoping to use the time in Maine to test and customize lithium battery packs (often used in microgrids) to be better suited to the local environs.

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.

Prowler’s $6 Million Seed Funding Signals a New Dawn for Open Cloud Security

Portland-based Prowler, Inc., a trailblazer in open cloud security, has secured a significant $6 million in seed funding led by Decibel VC. The infusion of funds will catalyze the expansion of Prowler’s engineering, sales, and marketing teams, as well as enhance operations and drive further product innovation.

Led by the dynamic duo of Casey Rosenthal, CEO, and Toni de la Fuente, CTO, Prowler is set to redefine cloud security for the modern era. The investment from Decibel VC serves as a robust validation of Prowler’s unique standing in the market and reinforces the belief that the company is poised to lead a transformative shift in cloud security, placing a strong emphasis on open-source technology and community collaboration.

Prowler envisions a future where cloud security is not only accessible but transparent, driven by the collaboration of the people who use it every day. The mission goes beyond product development; it aims to cultivate an ecosystem where open-source technology becomes the foundation for robust and effective security solutions.

The integration of Prowler Pro with Prowler Open Source signifies a strategic move, offering cloud security experts a ready-to-deploy solution that balances customization with simplicity and efficiency.

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.

Simply Homes, Inc.: Spearheading Affordable Housing Solutions through Innovative R&D

Kentucky Patent of the Month - December 2021

In a world grappling with the challenges of affordable housing, Simply Homes, Inc. has emerged as a beacon of hope by buying single-family homes in blighted neighborhoods, renovating them and then renting them out to very low-income families, the elderly and the disabled.

With a recent infusion of $22 million in funding, the company is poised to revolutionize the landscape, employing artificial intelligence (AI) as a powerful tool to combat the affordable housing crisis.

Simply Homes’ commitment to innovation is evident in their strategic use of AI technology. By harnessing the capabilities of machine learning, the company aims to navigate the complexities of affordable housing with unprecedented precision. This forward-thinking approach not only sets Simply Homes apart in the industry but also positions them as pioneers in the quest for sustainable, scalable solutions.

At the heart of their R&D endeavors is a sophisticated AI system that analyzes vast datasets. This data-driven approach enables Simply Homes to identify optimal strategies for affordable housing development, optimizing costs, and enhancing overall efficiency throughout the process. The company’s dedication to pushing the boundaries of what’s possible in housing development is reshaping the conversation around accessible living spaces.

What distinguishes Simply Homes is not just their technological prowess but their holistic and community-centric approach. Recognizing that true change requires collaboration, the company actively engages with local stakeholders, policymakers, and residents. By fostering partnerships and ensuring community involvement, Simply Homes is creating solutions that go beyond the immediate need, establishing a model for socially responsible and community-driven affordable housing development.

As we navigate the dynamic landscape of affordable housing, Simply Homes, Inc. stands at the forefront of positive change. Their innovative research and development efforts, fueled by AI, signify a bold step towards a future where housing is not just affordable but also sustainable and inclusive. Watch this space as Simply Homes, Inc. continues to redefine the narrative, pushing the boundaries of what’s possible in the realm of affordable housing.

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.

Pumpspotting Directs $2.2M in Funding to Scaling Enterprise

Pumpspotting, Inc., a breastfeeding and pumping support platform, has secured $2.2 million in funding from a Series Seed II round. The round was led by Sincere Corporation and Maine Venture Fund, the investment round also saw participation from Unum Business Ventures and Maine Technology Institute.

The new funding aims to accelerate pumpspotting’s enterprise capabilities and broaden their commercial product offerings. One of the planned launches is pumpspotting Health Care, which aims to extend the platform’s services to the retail and healthcare sectors.

Pumpspotting’s mission is crystal clear: they partner with organizations of all sizes to create havens for women and families to feed and be fed. They achieve this with a tech-enabled program that aids companies in establishing inclusive, feeding-friendly cultures. It provides continuous, community-centric support and expert guidance to parents, while also helping companies adhere to federal, state, and city laws concerning lactation support. The platform serves as a bridge between employers and parents, making the complex baby-feeding journey a bit easier for everyone involved.

Their research-driven approach ensures that their solutions are not only effective but also user-friendly. This accessibility makes it feasible for organizations of all sizes to implement breastfeeding-friendly policies and spaces, thereby making a positive difference in the lives of their employees and customers. Founded in 2015, pumpspotting has already had a significant impact by serving over 70,000 parents and partnering with companies to implement extensive lactation programs. These programs don’t just meet compliance standards; they actively contribute to creating an inclusive environment and demonstrate a firm commitment to supporting women and families.

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

Who We Are:

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

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

Springworks Farm Raises $22M to Expand Aquaponics Venture

Indiana Patent of the Month - December 2021

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

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

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

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

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

Who We Are:

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

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

Maridose LLC is in the Final Stages of Federal License to Grow Cannabis for Medical Research

Florida-based Maridose, LLC is in the final stages of obtaining a coveted and rare federal license to grow cannabis for medical research in Maine.

Professor Lumír Hanuš leads the scientific advisory board for the company, bringing on expertise in cannabis research. His discovery and isolation of Anandamide – the first known endocannabinoid in the human brain – made him renowned as the leading analytical chemist in cannabis research. In fact, this discovery is credited with being the basis for all research into the endocannabinoid system for the last 3 decades.

The limitations on these licenses have left the University of Mississippi with a monopoly over the cultivation of cannabis for federally sanctioned research for more than 50 years. There are only 600 scientists across the country with federal approval to study marijuana.

With the approaching license approval, Maridose intends to set up shop in TechPlace, the business incubator facility at Brunswick Landing. A final walkthrough has already been conducted on April 21st so close to April 20th, or 4/20). All that is left is to receive the final greenlight from the federal office, and then Maridose can begin custom-cultivating cannabis for research.

The custom cultivating practice will ensure the exact amount needed will be grown for each research study, rather than growing the product and then trying to sell it to researchers. In addition to cultivation, Maridose intends to conduct their own research in areas including opioid use replacement, pain management, arthritic and neuropathic pain, sleep, and anxiety.

This application process was initiated by Maridose more than four years ago, sitting alongside 36 other applications. To date, six entities have joined the University of Mississippi on the DEA’s list of approved “bulk manufacturer (marijuana) growers” and Maridose is poised to be next.

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.

MDI Biological Laboratory Discovers Protection of Muscle During Dietary Restriction

MDI Biological Laboratory, a Maine-based biomedical research institution, has discovered that muscle may be a protected tissue under dietary restriction conditions.

Dietary restriction has been a robust anti-aging intervention tool for a while now. This process has the patient restrict calories without reaching malnutrition. In face of the scarce nutrients, the organism conserves resources by lowering the translation of proteins. Protein translation is one of the most energetically costly processes in a cell.

By conserving these cellular resources, the organism can reproduce when food becomes available but comes at the cost of reduced anabolic function, growth, and reproduction.

Aric N. Rogers, PH.D. at MDI Biological Labs has studied the cellular and molecular mechanisms of aging. Rogers has worked with tiny nematode worms, C. elegans, to evaluate the impact of suppressed protein translation. Skin, nerve, and reproductive tissues responded as expected with enhanced survival and decreased growth and reproduction, muscle experienced the opposite effect.

Muscle tissue experienced accelerated growth and reproduction instead of suppression.

elegans is a popular model in aging research because it shares many of its genes with humans, including those governing nutrient-sensing pathways, and because its short lifespan allows scientists to rapidly assess the effects of anti-aging interventions.

This discovery could contribute to the development of anti-aging drugs without side effects.

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.

MDI Biological Laboratory Discovers Protection of Muscle During Dietary Restriction

MDI Biological Laboratory, a Maine-based biomedical research institution, has discovered that muscle may be a protected tissue under dietary restriction conditions.

Dietary restriction has been a robust anti-aging intervention tool for a while now. This process has the patient restrict calories without reaching malnutrition. In face of the scarce nutrients, the organism conserves resources by lowering the translation of proteins. Protein translation is one of the most energetically costly processes in a cell.

By conserving these cellular resources, the organism can reproduce when food becomes available but comes at the cost of reduced anabolic function, growth, and reproduction.

Aric N. Rogers, PH.D. at MDI Biological Labs has studied the cellular and molecular mechanisms of aging. Rogers has worked with tiny nematode worms, C. elegans, to evaluate the impact of suppressed protein translation. Skin, nerve, and reproductive tissues responded as expected with enhanced survival and decreased growth and reproduction, muscle experienced the opposite effect.

Muscle tissue experienced accelerated growth and reproduction instead of suppression.

elegans is a popular model in aging research because it shares many of its genes with humans, including those governing nutrient-sensing pathways, and because its short lifespan allows scientists to rapidly assess the effects of anti-aging interventions.

This discovery could contribute to the development of anti-aging drugs without side effects.

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.

New England Marine Monitoring Keeps an A-EYE on Fish

Kentucky Patent of the Month - August 2021

New England Marine Monitoring, a Maine company, got its start using artificial intelligence to improve data collection for groundfish fishermen and fisheries officials. As a venture of the Gulf of Maine Research Institute’s Ocean Business Accelerator, they technology to enhance scale and quality of electronic monitoring capabilities.

The technology they have been developing could eliminate the need for onboard human observers for ground fishermen and ultimately creates safer, faster, and more accurate and affordable monitoring and data collection. Without this type of technology, the groundfish fishery requires 40% of a fisherman’s trips to be monitored. With New England Marine Monitoring’s AI technology, this 40% observation can be done automatically. Fishermen would no longer need to go on dangerous fishing trips for weeks at a time.

Their AI uses multiple cameras wired to a computer and mounted to a boat rig. The cameras can then continuously monitor the fish as they are brought aboard, dumped, sorted, and specifically pay attention to any bycatch and what is thrown back overboard. Usually, this data will then be meticulously analyzed by lab staff back on land. The AI has been trained to recognize when fishing is happening and cuts out irrelevant footage. Testing of implementation of this technology has already shown a reduction in review time by 17%. It can also freeze frames of each instance of fish, highlighting the fish with a white box. The reviewer no longer needs to sit through hours of footage, and can instead jump directly to relevant still images to count and track fish and bycatch. This still image technology is expected to further reduce review time by 15%. Introducing AI into the fishing industry could rapidly increase efficiency and accuracy of data collection.

The required monitoring for ground fishermen increased from 25 percent of trips in 2018 to 40 percent in 2020, and may increase to 100 percent next year, thanks to an amendment to the current groundfish monitoring program adopted by the New England Fishery Management Council in October. The 100 percent monitoring target is intended to improve the reliability and accountability of catch reporting in the fishery to ensure there is precise and accurate representation of catch (including discards), and that species are protected from overfishing. The measure still needs to be approved by the National Oceanic and Atmospheric Administration but could greatly benefit from this AI technology.

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.

Blushift Aerospace Works to Increase Launch Services

Maine-based blushift Aerospace has made waves as they develop a unique line of rockets powered by bio-derived fuels to launch tiny satellites into space. They are hoping these waves will be enough to reach their crowd equity funding goal of $1.07 million. So far their development of a small and dedicated launch service has helped them reach the halfway point.

Blushift Aerospace has made it clear that they intend to create novel rockets and novel launch methods. The industry is working on developing rockets to take small payloads to space – but few are working on a small launch experience. This experience would lower costs for launch operations – a huge advantage in the early stages of space travel.

The Maine location expects to reduce the cost of launch site logistics by 90%. blushift Aerospace uses a proprietary, nontoxic solid biofuel and hybrid rocket technology to simplify the complexity of a traditional rocket engine. The biofuel is less expensive to make as it uses materials easily sourced from farms and has better performance than petroleum.

The plan of providing a dedicated launch service for customers like civil and academic researchers means they can see their launches occur on the timeline they want, he said.

To further accommodate customers, bluShift plans to make its bays configurable for specific payload sizes and shapes, up to certain size and weight limits defined by the payload bays — even making it possible to “blow” the windows at altitude for customers who want their experiments to have direct access to space.

They conducted a prototype launch in January, sending a 20-ft rocket called Stardust 4,000 ft up, with 2,000 lbs of thrust. Stardust carried several small customer payloads and proved the design was ready to be scaled to a full-size engine for larger rockets. They are working on this crowd equity funding to help development and support of the next rocket launch iteration aiming for 40,000 ft, and then again but reaching space.

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.