Montana Renewables to Expand Renewable Energy Facility

Washington Patent of the Month - August 2021

Montana Renewables, a part of Calumet Inc., has secured a $1.44 billion loan guarantee from the Department of Energy (DOE). The funding will support the company as they expand their Great Falls facility, achieving the status of the largest producer of sustainable aviation fuel worldwide.

The renewable energy firm uses waste feedstock to produce low-emission alternatives like renewable hydrogen, diesel, and sustainable aviation fuel (SAF). The company plans to substantially increase its SAF production by 300 million gallons annually by 2028.

This expansion is set for completion by 2028, aligning with national efforts to transition from fossil fuels. 

The loan will be released in two phases, starting with $778 million expected to close by the end of this year. The expansion will include:

  • Building a new renewable fuels reactor
  • Increasing renewable hydrogen production
  • Adding SAF blending and logistics assets

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.

Flying High: Bridger Aerospace’s Soaring Investments in Cutting-Edge Research and Development

Stratodynamics Shows Pomise in Unmanned Aerial Turbulence Detection

In the ever-evolving landscape of aerial firefighting and disaster response, Bridger Aerospace Group Holdings, Inc. has emerged as a key player, making headlines with its strategic investments that support their firefighting regimes. Recently, the company has announced that it has entered into a joint venture partnership to complete the purchase of four Canadair CL-215T Amphibious Aircraft recently awarded in a public tender process from the Government of Spain for €40.3 million. 

The company has grown from operating a single plane to commanding a significant Air Attack and the largest Super Scooper fleet in the U.S. in less than eight years.

“Bridger’s mission is to support communities affected by wildfires wherever they occur.   There is global demand for specialty aircraft like the CL-215T, and with the addition of these airframes we are positioned to operate the largest privately owned scooper fleet in the world. Our access to these aircraft represents a strategic and transformative step for Bridger and positions us to expand our customer base and create substantial revenue and cash flow growth for the next several years,” commented Tim Sheehy, Bridger’s Chief Executive Officer.

Bridger Aerospace’s investments extend beyond firefighting, encompassing disaster response and recovery as well. The company is exploring ways to leverage aerial technologies in the aftermath of natural disasters, facilitating rapid assessment and response to minimize human suffering and property damage.

The partnership will allow Bridger access to Scoopers for use in contract operations as soon as the summer of 2024. Bridger will manage the return to service upgrades of the planes while they are owned and funded by the partnership.

McAndrew Rudisill, Bridger’s Chief Investment Officer, commented, “We are excited to partner with Marathon and Avenue to co-invest in the transformative Spanish Scooper acquisition and appreciate their exhaustive efforts to close this transaction. This private capital solution eliminates the immediate need for any large near-term equity financing and helps strategically position Bridger to further diversify internationally, create exposure to the European fire season, and creates a multi-year growth trajectory for the company.”

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.

Submittable Secures Largest-Ever Venture Capital Investment in Montana

Software People

Submittable, the software company focused on helping nonprofits, governments and corporations accelerate their social impact work, has just secured Montana’s largest-ever venture capital investment.

The Missoula-based company has announced the close of its Series C funding with a successful investment of $47 million in funding. The round was led by Accel-KKR with support from existing investors.

The company’s next steps will see the funding go towards growing their team with the intention of doubling staffing. After doubling revenue in the year prior, the capital will support the much needed labor to effectively scale.

Submittable was founded in 2010 by local entrepreneurs Michael FitzGerald, Bruce Tribbensee and John Brownell. After 9 years of dedicated R&D and commercialization, the company secured $10 million in venture capital.

Thor Culverhouse, CEO of Submittable, said the social impact sector has experienced “unheard-of” growth in recent years as public, private and nonprofit entities have all increased the funding going towards justice, equity, diversity and inclusion.

Submittable’s technology provides a start-to-finish grants management platform to simplify and streamline the process of applying for and tracking grants. The platform allows users to track the entire initiative from the first grant application to the final report using workflow automation, funds distribution services, and reporting tools. 

In 2020, the state government of Montana used Submittable’s platform to roll out multiple grants to distribute federal CARES Act funding to businesses and individuals impacted by the pandemic.

This record-breaking funding round could have great implications for the state, bringing more high-paying jobs and investments to the region. It may even inspire local entrepreneurs to maintain their roots and grow their ideas right at home.

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.

Avanti Energy Finds 17 Drilling Targets for Helium Exploration

Microbeam Technologies Awarded $250K in Funding

Avanti Energy, Inc., a Vancouver-based company, has outlined 17 initial drill targets in Montana. They have recently finished their evaluation of recently acquired 3D seismic data and the results support their helium exploration models. 

The drill targets reside over closed structural highs that exhibit ~80m to >200m of relief and are highly prospective for helium. The comprehensive evaluation of the area, core, and log analysis indicate excellent reservoir quality rock. The next phase of Avanti’s plan is to spud their initial wells in late 2021 with the purpose of targeting and testing the potential of all three pay zones. They will also proceed with surface surveys and evaluations to prepare for this upcoming drilling.

Helium has been in short supply as of late, with markets experiencing massive shortages. There are still pockets of helium stored within the earth, and Avanti is determined to develop large-scale projects to extract hese, as efficiently as possible. 

Between Avanti’s proprietary models and the interpretation of this 3D data set, the company has been able to select attractive drilling targets, a move which significantly de-risks their exploration programs. In addition to this update, Avanti has retained Crescendo Communications, LLC to work on investor relations, broadening the awareness of Avanti within the North American financial markets. 

With this great progress in Montana, Avanti continues to evaluate multiple opportunities across Western Canada and the United States to build an industry-leading helium company with a premier portfolio of prospective lands.

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.

cryo-TEM at MSU Lets Scientists Explore Molecules

cryo-TEM at MSU Lets Scientists Explore Molecules

Montana State University has developed a new microscope that brings research to a whole new, teeny, tiny level. They have just recently powered up their second ultra-high resolution cryogenic transmission electron microscope (cryo-TEM). 

The cryo-TEM can create high-resolution and 3D images at a cellular level with greater clarity than any other tool available. In fact, it can successfully capture images down to a tenth of a nanometer with high-resolution images. 

In order to achieve this high resolution they had to design the lenses to be suspended on air cushions to avoid even tiny vibrations. Even a change in temperature would lead to slight contractions or expansions and cause distortions. 

Along with the microscope, the Cryo-EM lab now has an entire room dedicated to the computers that take the images captured by the TEM — as many as 100,000, up to 50 per second — and stitch them into a 3-D model of something normally invisible to the naked eye.

“It will hugely benefit this campus and I’m glad we’ll be able to make it available to other people,” said Martin Lawrence, a professor in Department of Chemistry and Biochemistry in MSU’s College of Letters and Science and the facility director of MSU’s Cryo-Electron Microscopy Laboratory, also called the Cryo-EM Lab.

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.

Bridger Photonics Announces Breakthrough LiDAR Technology

Missouri Patent of the Month - January 2021

Montana-based Bridger Photonics has announced a breakthrough in LiDar development for use in the oil and gas industry, earlier this week. Bridger Photonics develops precision LiDAR solutions to help oil & gas and manufacturing companies improve the safety and efficiency of their operations.

Bridger Photonics started out by developing a proprietary core LiDar engine which was capable of extremely precise distance measurements and 3D imaging. They advanced this technology for use in detecting, locating, and quantifying methane gas leaks across the entire natural gas value chain. The addition of this highly sensitive detection method offers greater protection and safety measures for those in the oil & gas industries.

Exxon Mobil has already filed an application with the U.S. Environmental Protection Agency to use the company’s LiDAR technology for their remote aerial detection of methane emissions. This type of move will allow Exxon to simplify and increase the efficiency and sustainability of their regulatory compliance checks. Previously, companies handled inspections manually along hundreds of production sites. Bridger Photonics new LiDAR detection technology could remove the need for this manual check and automate the process. 

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.

Drone Company Launches to the Skies

Drone Company Launches to the Skies

For Skyfish, the sky is not the limit, the sky is only the start. On January 18th, the Montana based drone company announced their new autonomous work drone platform. The company spent much time on R&D, working with leaders in the industry on developing a pilot program. Some of Skyfish’s previous work includes a drone system that inspects cell towers and another program that creates realistic 3D models. 

The new launch includes two of their drones, the Skyfish M4 and the Skyfish M6. These drones are designed for work in the field with their long-lasting batteries and remote control operation for autonomous functioning. The drones are designed for specific work – for example, the M4 is for making 3D models and photogrammetry for inspection purposes. It scans infrastructures such as cell towers, bridges, roads, power lines, among others. The M6 can handle heavy payloads (12 lbs for half-an-hour) and can interact with its environment, by triggering certain actions at specific distances.

Are you adapting existing technology for a new 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.

The Best and Worst CyberStates for 2017

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The Computing Technology Industry Association (CompTIA) is a leading not-for-profit technology association. Their 18th edition of the Cyberstates report aims to provide a representation of the size and scope of the US tech sector. The report analyses the industry and workforce by state and uses metrics such as tech patents, venture capital funding, business establishments and job postings.

Here is a summary of the results by state:

Tech Industry Employment

There were around 6.9 million US tech workers in 2016, up from 6.7 million in 2015.

Top 5

  1. California
  2. Texas
  3. New York
  4. Florida
  5. Massachusetts

Bottom 5

  1. Wyoming
  2. South Dakota
  3. Alaska
  4. North Dakota
  5. Montana

Tech Patents Granted

Top 5

  1. California
  2. Texas
  3. Washington
  4. New York
  5. Massachusetts

Bottom 5

  1. Alaska
  2. South Dakota
  3. Mississippi
  4. Montana
  5. West Virginia

Innovation Score Per Capita

The number of tech startups and new tech establishments grew to 36,508 in 2015. Many were IT services covering data processing, hosting and web search portals.

Top 5

  1. California
  2. Massachusetts
  3. Washington
  4. Colorado
  5. New Jersey

Bottom 5

  1. West Virginia
  2. Mississippi
  3. Arkansas
  4. South Dakota
  5. Ohklahoma

Tech Gross State Produce (GSP) As A Percent of Total State Product (in billions)

Top 5

  1. Oregon
  2. Washington
  3. Massachusetts
  4. California
  5. Colorado

Bottom 5

  1. Wyoming
  2. Louisiana
  3. Oklahoma
  4. Mississippi
  5. West Virginia

Average Tech Industry Wages Rank

The average tech sector wage was 105 percent higher than the average national wage of $53,130 in 2016.

Top 5

  1. California
  2. Washington
  3. Massachusetts
  4. New Jersey
  5. New York

Bottom 5

  1. South Dakota
  2. Mississippi
  3. Wyoming
  4. West Virginia
  5. Montana

The full report is available at Cyberstates.

US tech companies undertaking qualified activities can apply for the state and/or federal R&D tax credit. To check whether your projects meet the necessary criteria, contact a Swanson Reed representative today.

Innovative Strategies To Mitigate Wildlife-Vehicle Collisions

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Montana is known for it’s beautiful wildlife, which is a major drawpoint for tourists. Wildlife-related activities generate around $100 million in tax revenue for the state.

Sadly, collisions with motor vehicles are common. According to State Farm Insurance, Montana ranks second for vehicle collisions with deer, elk and moose. Around 13,300 deer are hit by a car in Montana each year, adding up to around $79.8 million in car repairs and other costs, or $6,000 per collision. Costs are even higher per vehicle for elk and moose at $17,000 and $30,000 respectively.

Wildlife organisations are advocating more overpasses and underpasses for wildlife to reduce this risk, which are around 86% effective. These generally cost around $1 to $2 million to build and help animals migrate across the country safely. When compared to the cost of lives and vehicle damage over the years, it makes sense to invest in this area.

During the International Conference on Ecology and Transportation, the science behind wildlife-vehicle mitigation tactics was discussed. Speakers presented on ways to improve the coexistence of road infrastructure and wildlife habitats.

Innovation and research is necessary to further mitigate wildlife-vehicle collisions, including tracking wildlife movements and improving animal detection systems and road design. Currently, the most effective measures, with a 100% success rate, are elevated roadways and road tunnels, yet they are very costly to implement.

Canada and other states are implementing innovative strategies, including the highway built through Banff National Park, which ensured that nearly every mile of road had at least one passage for wildlife. This has reduced collisions by over 80 percent. Working with other states and identifying opportunities to address this issue will bring benefits for the animals, humans and the Montana’s economy.

While Montana does not have a state research and development tax credit, companies creating new knowledge in an attempt to solve a problem are likely eligible for the federal research and development tax credit. To find out whether your activities qualify, contact Swanson Reed R&D Consultants for a free assessment.

Top States for Doing Business 2016

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How does your state rank for doing business? CNBC ranked all 50 states for business using a range of publicly available data.  They used a points-based system for each of the 10 categories of competitiveness.

Here are the results:

Workforce

Rating based on education level of the workforce, the numbers of available employees, and the states’ demonstrated abilities to retain college-educated workers.

Top 5

  1. Colorado
  2. Massachusetts
  3. Virginia
  4. North Dakota
  5. Arizona

Bottom 5

  1. Maine
  2. Missouri
  3. Hawaii
  4. Vermont
  5. Kentucky

Cost of Doing Business

Rating based on the competitiveness of each state’s tax climate, as well as state-sponsored incentives that can lower the cost of doing business. Utility costs can add up to a huge expense for business, and they vary widely by state. Also considered was the cost of wages, as well as rental costs for office and industrial space.

Top 5

  1. Indiana
  2. Iowa
  3. Mississippi
  4. South Dakota
  5. Kentucky

Bottom 5

  1. Hawaii
  2. California
  3. Maryland
  4. Connecticut
  5. Massachusetts

Infrastructure

Rating based on the vitality of each state’s transportation system by the value of goods shipped by air, waterways, roads and rail. The availability of air travel in each state, the quality of the roads and bridges, and the time it takes to commute to work was taken into account, as was the condition of each state’s drinking water and wastewater systems.

Top 5

  1. Indiana
  2. Tennessee/Texas
  3. Tennessee/Texas
  4. Georgia
  5. Minnesota

Bottom 5

  1. Rhode Island
  2. New Hampshire
  3. Maine
  4. Connecticut
  5. Hawaii

Economy

Rating based on economic growth, job creation, consumer spending, and the health of the residential real estate market. Each state’s fiscal health was measured by looking at its credit ratings and outlook, as well as its overall budget picture. Also considered was the number of major corporations headquartered in each state.

Top 5

  1. Texas
  2. Colorado
  3. Utah
  4. Florida
  5. Oregon

Bottom 5

  1. Mississippi
  2. Maine
  3. Alabama
  4. West Virginia
  5. Louisiana

Quality of Life

Rating based on livability, including several factors, such as the crime rate; inclusiveness, such as antidiscrimination protections; the quality of health care; the level of health insurance coverage and the overall health of the population. Also evaluated were local attractions, parks and recreation, as well as environmental quality.

Top 5

  1. Hawaii
  2. Minnesota
  3. Vermont
  4. New Hampshire
  5. Maine

Bottom 5

  1. Arkansas
  2. Missouri
  3. Oklahoma
  4. Louisiana
  5. Tennessee

Technology and Innovation

Rating based on support for innovation, the number of patents issued to their residents and the record of high-tech business formation. Also considered were federal health, science and agricultural research grants to the states.

Top 5

  1. Washington
  2. California
  3. Massachusetts
  4. New York
  5. Maryland

Bottom 5

  1. Mississippi
  2. West Virginia
  3. Wyoming
  4. Arkansas
  5. Louisiana

Education

Rating based on the number of higher-education institutions in each state, as well as long-term funding trends for higher education. Also evaluated were several measures of K–12 education, including test scores, class size and spending, as well as digital and lifelong learning opportunities in each state.

Top 5

  1. Massachusetts
  2. Minnesota
  3. Wyoming
  4. Illinois
  5. Virginia

Bottom 5

  1. Nevada
  2. Idaho
  3. Mississippi
  4. Arizona
  5. Alabama

Business Friendliness

Rating based on the freedom each state’s legal and regulatory frameworks provide for business.

Top 5

  1. New Hampshire
  2. South Dakota
  3. Virginia
  4. North Dakota
  5. Idaho

Bottom 5

  1. California
  2. West Virginia
  3. Illinois
  4. Mississippi
  5. Hawaii

Cost of Living

Rating based on cost of housing, food and energy.

Top 5

  1. Mississippi
  2. Kentucky
  3. Arkansas
  4. Alabama
  5. Tennessee

Bottom 5

  1. Hawaii
  2. New York
  3. Delaware
  4. California
  5. Connecticut

Access to Capital

Rating based on venture capital investments by state, as well as small-business lending on a relative basis.

Top 5

  1. Illinois
  2. North Carolina
  3. California
  4. Michigan
  5. New Jersey

Bottom 5

  1. Wyoming
  2. Vermont
  3. West Virginia
  4. Delaware
  5. New Mexico

Many US businesses can take advantage of the state and/or federal R&D tax credit. Please contact a Swanson Reed representative to find out what is available in your state and whether your business qualifies.