New Hampshire – Swanson Reed | Specialist R&D Tax Advisors

ePropelled Unleashed the Falcon

ePropelled, a New Hampshire – based propulsion firm, has announced the availability of its USA-assembled Falcon product line. The Falcon series provides compact propulsion systems from 1kW to 20kW to meet the demands of diverse uncrewed aerial vehicle (UAV) applications.

The company is focused on building magnetic innovations to advance electric motor technology. Their new Falcon products consist of five electric propulsion motors, five intelligent motor controllers (up to 98% efficient), and a powerful and intelligent electronic engine starter motor controller adept for hybrid UAV power requirements.

The industry has seen a growing demand for electric propulsion systems. This has been compounded by China’s regulators recently restricting Chinese manufacturers from exporting UAV propulsion components exceeding 16kW. ePropelled plans to fill this missing market gap, providing non-China supplied UAV component alternatives.

Nick Grewal, CEO of ePropelled, says, “Our Falcon product line exemplifies ePropelled’s commitment to innovation and excellence in propulsion technology. By offering power options from 1kW to 20kW — alongside our ePConnected™ protocol for comprehensive control, instrumentation, and data-sharing services — Falcon delivers unparalleled performance and efficiency. ePropelled delivers cutting-edge drone solutions that not only meet the most stringent technical requirements, but also help our customers stay ahead of compliance challenges with products assembled in the USA.”

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.

Rotor Technologies is Bringing the Two Largest Commercial Drones to Market

Rotor Technologies, Inc. has announced the launch of the world’s two largest commercial drones. The startup, which is based in New Hampshire, was founded by a team of MIT aerospace engineers to develop and manufacture the most capable commercial UAVs possible.

The new drones, named Airtruck and Sparyhawk, have been based on the Robinson R44 helicopter airframe – which is a four-seat light helicopter commercialized in 1992. The drone design, however, has adapted the R44 frame to support lifting cargo and spraying crops, all while remotely operated.

Airtruck is a general utility drone able to move up to 1,000 lb (453 kg) of cargo, while Sprayhawk has been conceived as an agricultural UAV, carrying a 110-gallon tank for crop dusting.

Rotor Technologies, which is collaborating with helicopter manufacturer Robinson to develop the two drones, plans to build some 25 units per year of the two models (15 Sprayhawks and 10 Airtrucks) at its New Hampshire plant.

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.

Fueling the Future: Terragia’s Innovative Biofuel Technology

Terragia Biofuel Incorporated, a pioneering cleantech startup, recently announced the successful closure of its seed financing round, securing an impressive $6 million. This significant capital injection is aimed at advancing the company’s innovative approach to converting biomass into ethanol and various sustainable products, driving its growth and facilitating commercialization.

Founded in 2022 and headquartered in New Hampshire, Terragia specializes in cutting-edge technology aimed at producing sustainable fuels derived from cellulosic biomass. What sets Terragia apart is its unique biology-centric approach, which harnesses thermophilic microorganisms to seamlessly convert biomass into ethanol, bypassing the need for enzymatic additives and thermochemical pretreatment.

This groundbreaking methodology not only mitigates significant cost overheads typically associated with conventional cellulosic biofuel production but also caters to the fuel requirements of challenging-to-electrify transportation sectors like aviation, ocean shipping, and long-haul trucking.

The recent funding round, led by Engine Ventures and Energy Impact Partners, reflects growing optimism about Terragia’s potential to thrive in the cellulosic biofuel sector. Terragia’s vision for sustainable fuel solutions holds immense potential to revolutionize the biofuel industry and drive meaningful progress towards a greener, more sustainable future.

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

Who We Are:

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

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

Revolutionizing Circular Economy: Cyclyx’s Groundbreaking R&D Takes the Lead

Cyclyx International has emerged as a trailblazer in the pursuit of a circular economy. With recent developments, including a final investment decision for their Circularity Center, the company is making waves in the recycling industry through innovative research and development efforts.

The New Hampshire-based venture has announced a final investment decision to build the first Cyclix Circularity Center (CCC) in Houston. The facility is designed to accept and process plastics for use in a range of recycling technologies.

“This milestone is evidence of the real progress we are making to increase the circularity of plastic waste as a resource,” says Cyclyx CEO Joe Vaillancourt. “The first-of-its-kind CCC in Houston will serve as a blueprint, which we can replicate across the U.S. to progress our long-term goal of increasing the recycling options for plastic waste. Cyclyx is proud to be an innovator and enabler for unlocking plastic’s potential.”

Cyclyx’s commitment to a circular economy is evident in their strategic investments and cutting-edge R&D initiatives. The CCC, a testament to their vision, is poised to redefine the future of recycling.

At the core of Cyclyx’s R&D endeavors is a comprehensive understanding of the recycling process. Their innovative approach involves leveraging advanced technologies to optimize the collection, sorting, and processing of recyclable materials. By employing data-driven insights and state-of-the-art systems, Cyclyx aims to create a closed-loop system that minimizes waste, maximizes resource efficiency, and promotes a sustainable circular economy.

The CCC serves as a hub for collaborative efforts, bringing together industry experts, innovators, and stakeholders to drive the development of groundbreaking recycling technologies. Cyclyx’s holistic approach involves fostering partnerships that transcend traditional boundaries, creating a network of like-minded individuals and organizations dedicated to advancing the circular economy agenda.

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.

Harnessing Sustainable Power: Goosebay Sawmill & Lumber’s Research and Development Journey

Goosebay Sawmill & Lumber, a prominent business in New Hampshire, is set to embark on an exciting venture thanks to new federal funding. With a focus on renewable energy and clean water initiatives, this investment aims to revitalize water infrastructure and introduce solar power to the business.

The U.S. Department of Agriculture’s Rural Development program, in collaboration with Congresswoman Annie Kuster, D-NH, is spearheading this transformative endeavor. The objective is twofold: expanding access to clean energy and creating essential infrastructure in rural communities across New Hampshire.

Congresswoman Kuster, a strong advocate for renewable energy, emphasizes the significance of this endeavor. She believes that supporting clean energy technology and reinforcing clean water infrastructure are essential for the state’s development. During a recent visit to Goosebay Sawmill & Lumber and Woody Hollow Cooperative, Kuster witnessed firsthand the positive impact that federal resources will have on these communities.

The funding for these initiatives has been secured through the Rural Energy for America Program and Water and Environmental Programs. Goosebay Sawmill & Lumber will receive a substantial grant of $44,602 from the Rural Energy for America Program. This grant will be dedicated to the purchase and installation of two solar arrays, a transformative step towards harnessing sustainable energy for the business.

Meanwhile, Woody Hollow will benefit from a generous grant of $800,000 and a $156,000 loan through the Water and Environmental Programs. This financial support will enable the community to replace its aging water infrastructure, ensuring access to clean and reliable water for all residents.

Carl Mahlstedt, the owner of Goosebay Sawmill & Lumber, expressed his excitement about the USDA Rural Development grant. He emphasized the positive impact it will have on their operations and the significant cost savings on energy expenses. By embracing solar energy, Goosebay Sawmill & Lumber is positioning itself as a leader in sustainable practices while bolstering its long-term viability.

The infusion of federal funding into these ventures signifies a pivotal moment for Goosebay Sawmill & Lumber and the local community. By embracing renewable energy and revitalizing water infrastructure, these initiatives will pave the way for a more sustainable future.

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

Who We Are:

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

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

Resolve Medical Bills Secures $3.3M in Seed Funding

Resolve Medical Bills, a New Hampshire startup tackling the nation’s medical debt, has successfully raised $3.3. Million in seed funding following a round led by AlleyCorp. Additional support was found with the founders of category defining companies such as Funding Circle, Collective Health, Collective Medical, Nomi, Compass, Seamless, and more.

The company was founded in response to the nation’s growing medical debt. In fact, recent studies have shown that 50% of Americans are currently in medical debt. Further studies have shown that a large portion of issued medical bills contain errors and are grossly overcharged. Resolve’s founder, Braden Pan, suffered a serious accident and was met with bill after bill in the months that followed. He partnered with Endurance Companies to form the company in 2019 and has since grown it to become one of the leading medical billing advocates in the US.

Resolve has built a platform to review, negotiate, and lower medical bills on behalf of patients. The platform utilizes proprietary data algorithms to scan and detect pricing issues, coding and/or billing errors. Trained negotiators then take over to secure fair rates and appeal insurance denials. To date, the company has relieved nearly $20M in medical debt, averaging 60-65% savings.

The new funding will help support the company’s growth. They currently employ 22 full-time staff and intend to expand soon with the addition of a Chief of Staff, Head of Product, and a number of software developers. The funding will also support the development and growth of their platform and algorithms, further automating the process and increasing capacity and accuracy.

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.

UNH FInds Repurposed Drug Could Inhibit Enzyme used in COVID-19 Replication

Researchers at the University of New Hampshire have recently found that an existing drug compound could be successfully repurposed and used to block the activity of an enzyme of the coronavirus.

“The goal was to slow or prevent the spread of the virus by using a strategic therapeutic that could possibly disrupt key steps in the viral life cycle at the molecular level, like the first contact with a healthy cell or the first step in replicating within an infected cell,” said Harish Vashisth, associate professor of chemical engineering.

They published their first-of-its-kind study in the journal PROTEINS: Structure, Function, and Bioinformatics. The researchers targeted this key enzyme, the main protease enzyme Mpro, which has become a primary target of intense research and therapeutic development due to its role in the virus’s replication.

They explored the inhibiting properties of a derivative of the existing compound – Thiadiazolidinones (TDZD). TDZD is already being studied as a potential treatment of neurological disorders like Parkinson’ Disease. Using molecular dynamics simulations combined with laboratory experiments, the researchers determined that the TDZD compound was able to inhibit the Mpro enzyme. Preventing the enzyme for working could prevent the virus’s ability to develop defenses at the cellular level.

This research was supported by grants from the National Institutes of Health under award numbers R35GM138217, P20GM113131, and the National Science Foundation under award number OIA-1757371. The content is solely the responsibility of the authors and does not necessarily represent the official views of the funders.

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.

Rising Demand for New Hampshire R&D Tax Credit Reduces Overall Credit Received

New Hampshire has had an R&D tax credit system available since 2008, but has not put the effort into ensuring it keeps up with the demand. More New Hampshire businesses received their R&D tax credit this year than ever before, but less than two-thirds of them received the full amount they are entitled to.

The demand for the credit has been increasing steadily, while the cap for the credit remains the same. In 2021, 276 businesses are set to receive the credit, compared to the 230 businesses in 2020. The cap on the credit remains at $7 million. In 2020, businesses received 76% of the credit they were entitled to. In 2021, this will likely be reduced to 64%.

The credit, without a total state cap, would provide each business with their full credit of 10% of it’s R&D spending up to $50,000. With the total state cap and the estimated 64% allowance, any business who should receive the $50,000 will get $31,948 instead.

So is there any chance of increasing this state cap? It seems unlikely based on legislation talks the previous year. Rather than suggesting an increase or removal of this cap, Rep. Timothy lang, R-Sanbornton, introduced Bill 210. Bill 210 would roll back the allocation to $2 million – a move meant to pay for increasing the exemption for the 5 percent interest and dividends tax. While Bill 210 did not make it out of the House Ways and Means committee, the bill has been retained to be acted on in this session.

In 2008, the R&D tax credit was capped at $1 million and held at this level until 2016, at which point businesses were receiving just 27% of the credit they were entitled to. The cap was raised the following year. We seem to be on the same trajectory, with the percent steadily declining until the cap is hopefully, eventually increased.

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.

DEKA and Satellite Healthcare Bring HemoCare to Clinical Trial

DEKA Research & Development Corp. has announced their sponsorship of Satellite Healthcare’s ongoing clinical trial in hemodialysis. The study will focus on investigating the clinical use of their HemoCare Hemodialysis System to be used at home.

DEKA designed the HemoCare to make overnight hemodialysis safer and easier to perform. The trial will first train eligible patients and their care partners will receive training on the machine in their own homes and transition this into overnight home hemodialysis. The study will then collect and analyze all adverse safety events and routine lab tests to measure the efficacy of the dialysis delivered.

The idea is based on the fact that home hemodialysis can be done more frequently and for longer periods of time which can improve heart health, patient survival and quality of life. DEKA has a long history of developing successful medical devices including peritoneal dialysis machines, infusion pumps, and solutions for people with disabilities, including the LUKE prosthetic arm and iBot® Personal Mobility Device. CVS Kidney Care and Satellite Healthcare are collaborating nationally to support comprehensive kidney care, and to expand access to kidney transplantation and in-home dialysis.

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.

Rogue Space and NanoAvionics Announce Cooperation for the Orbot™ Spacecraft Program

A New Hampshire-based satellite startup – Rogue Space Systems Corp. – has announced an agreement with NanoAvionics US. NanoAvionics will provide hardware, systems engineering, and integration services for 3 of Rogue Space’s programs. These programs will demonstrate missions planned for 2022 as well as the follow-on deployment of the servicing fleet which contains over 40 Orbots™.

OrbotsTM are Rogue Space Systems orbital robots and they are meant to support the growth of the space industry. They currently have three OrbotsTM in the works. Laura is built to inspect, monitor, and observe. Charlie delivers transport and capture and has fine motor robotics for delicate servicing tasks. Fred provides precision robotic assistance as it is able to move satellites and other assets to and from different orbits.

“NanoAvionics has been instrumental in the design and engineering of our current programs,” says Jeromy Grimmett, CEO of Rogue Space. “We are very excited to be taking our relationship to the next level today and well into the future.”

Are you developing new 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.