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

Voyage Foods Plans Manufacturing Facility in Mason Ohio

Voyage Foods has selected Mason, Ohio as the site for their new innovative food manufacturing facility. The 284,000 facility will be the home base for their cocoa-free chocolate, nut-free spreads, and bean-free coffee. The manufacturing plant is expected to be operational by 2025 and will have the capacity to make 10,000 metric tons of cocoa-free chocolate annually once fully built.

The facility will be partially funded by a guaranteed loan program from the U.S. Department of Agriculture. The facility will also support Cargill, which became Voyage’s exclusive B2B global distributor for the nut-free spreads and cocoa-free chocolate.

The food company largely uses plant-based ingredients upcycled from waste and side streams. Their sustainable approach does not compromise on flavor and uses less water and land than traditional counterparts.

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.

P2H2 Scores $18M in Series A

Power to Hydrogen Inc. (P2H2) has closed a Series A funding round, bringing $18 million in to support their AEM electrolysis technology. The round was led by venture studio Rev1 Ventures and strategic investor Worthington Enterprises. The round also includes support from global investors, including Finindus, JERA, Asahi Kasei, American Electric Power, EDP Ventures, E.ON, ESB, FH Capital, INP Capital, and others.

P2H2 is a leader in advanced electrolysis technologies. The company has designed the technology needed for on-site hydrogen generation and energy storage.

The new funding will be used to scale and deploy the world’s first industrial-scale AEM electrolysis technology. In addition, they will grow their U.S.-based team in Columbus, Ohio, expanding its manufacturing and supply chain, as well as expanding internationally with the launch of new offices in Belgium.

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.

Transforming Healthcare: Kilele Health’s Path to Impact

Kilele Health, a pioneering healthcare technology company, recently received a significant boost in funding for its mission to transform healthcare delivery. The company was awarded $1 million in funds from the National Science Foundation.

With a focus on leveraging technology to improve access to healthcare services, Kilele Health is poised to revolutionize the healthcare landscape. The recent funding injection will enable the company to further develop its cutting-edge solutions and expand its reach to underserved communities.

Founded on the principle of making healthcare more accessible and affordable for all, Kilele Health has been at the forefront of research and development in the healthcare technology sector. By harnessing the power of data analytics, artificial intelligence, and telemedicine, the company aims to bridge the gap between patients and healthcare providers.

One of the key areas of focus for Kilele Health is telemedicine, which has emerged as a vital tool in delivering healthcare services remotely. Through its innovative telemedicine platform, Kilele Health enables patients to consult with healthcare professionals from the comfort of their own homes, eliminating the need for costly and time-consuming visits to the doctor’s office.

In addition to telemedicine, Kilele Health is also working on solutions to improve healthcare delivery in rural and underserved areas. By developing mobile health clinics equipped with state-of-the-art medical technology, the company aims to bring essential healthcare services directly to communities that lack access to traditional healthcare facilities.

The $1 million in funding will play a crucial role in advancing Kilele Health’s research and development efforts. With this financial support, the company plans to enhance its existing technologies, develop new innovations, and scale its operations to reach more patients in need.

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.

Sense Neuro Diagnostics Joins MedTech Accelerator Third Cohort

The Mayo Clinic and ASU MedTech Accelerator, a flagship program of the Mayo Clinic and ASU Alliance for Health Care, launched their third cohort on March 28, 2022. Ohio’s Sense Neuro Diagnostics, has been selected as one of the eight participants.

The accelerator provides emerging companies with a multi-day immersive curriculum in health care entrepreneurship including: lectures and workshops with world-class scientific and engineering experts; resources to navigate regulatory pathways; and tools for product commercialization and customer acquisition. Additionally, participants attend mentoring, business development, and networking events.

Sense Neuro is developing non-invasive technology enabling rapid, comprehensive detection of stroke subtype + TBI, and continuous brain injury monitoring.

There is no accurate, objective way to detect stroke subtype or brain hemorrhage in a field environment or to monitor ongoing brain injury continuously, non-invasively and in real time. Without this real-time detection, patients must be transported to the closest equipped care facility for treatment, wasting the precious resource of time.

Sense Neuro has worked tirelessly to develop non-invasive brain scanners that can monitor this neurological status in real time. In fact, the system can scan the entire cranial vault in just 2.5 seconds using nine antennas which alternate between transmitting and receiving a safe, low-power radio frequency pulse across the brain. Healthy brain tissues have unique electrical properties that alter the RF wave as it passes through the tissue. Similarly, hemorrhages and ischemic tissue cause distinctive changes to the RF signal.

The company currently has three product pipelines. NeuSTAT, for continuous hospital monitoring, is available for investigational use. NeuroHawk Military and NeuroHawk ED/EMS are both still in development, striving to achieve a product for military use in the field and for rapid triage and assessment by paramedics. These development efforts will be aided by the support offered with the MedTech Accelerator.

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.

First Solar has Finalized Multi-Year Supply Agreement with Leeward Renewable Energy

First Solar has announced a multi-year framework supply agreement with Leeward Renewable Energy (LRE). In this agreement, First Solar will provide LRE with 1 GWdc of its ultra-low carbon thin-film photovoltaic (PV) solar modules. LRE will deploy these modules across its 20 GW solar development and construction pipeline in the U.S. over 2023 and 2024.

First Solar has been innovating the PV and solar cell industry for decades, achieving incredible energy yields, lower LCOE, and stable grid integrations. With R&D centers in Ohio and California, First Solar’s thin film PV modules have a carbon footprint that is 2.5 times lower and a water footprint that is three times lower than the average crystalline silicon solar panel made with cells produced in China.

“Sophisticated project developers such as LRE are looking to secure their development portfolios by partnering with a module supply partner that offers a reliable, clean energy solution with a long-term agreement structure,” said Georges Antoun, chief commercial officer at First Solar.

The company intends to invest $680 million to expand America’s domestic PV solar manufacturing capacity by 3.3 GW annually. The first step to this is the opening of its third US manufacturing facility in Lake Township, Ohio. The new facility is expected to be commissioned in the first half of 2023 and when fully operational will scale the company’s Northwest Ohio footprint to a total annual capacity of 6 GW, which is believed to make it the largest fully vertically integrated solar manufacturing complex outside of China.

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.

Infinity Labs Obtains Second Phase II Agility Prime Contract

Ohio’s Infinity Labs is the first to receive two Phase II Agility Prime contracts. Agility Prime is the Air Force’s development of electric vertical takeoff and landing (eVTOL) aircraft – or flying cars. This makes Infinity Labs the first to receive two Phase II and three Phase I awards in the Agility Prime project.

The latest Phase II award is set to focus on the analysis of their emerging “Urban Air Mobility” (UAM) battery technologies, and the Dayton company’s effort establishes an open-source modeling, simulation, and analysis toolset. Research into the potential of reusing and recycling batteries to obtain second-life applications will advance the industry and expand Infinity Labs reach. This award comes with $750,000 over a 15-month period.

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.

AFRL Renovates and Reopens

The Air Force Research Laboratory (AFRL) has just opened their newly renovated R&D facility in Ohio. The new renovations will allow AFRL scientists and engineers to conduct multidisciplinary research with easy access to biotech and organic synthesis equipment and infrastructure.

“Creating collaborative spaces allows employees to increase productivity and propel the next-generation of aerospace vehicles and technologies,” said Dr. Michael Gregg, the director of AFRL’s Aerospace Systems Directorate. They believe the large-scale renovations will help in the discovery and development of affordable air and space technologies for use by the Department of Air Force.

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.

Ohio Says Oh Hello to New Agriculture Developments

Supporting economic development is more important than ever, and yet harder than ever. Creating sustainable business networks that will attract consumer attention and support is a feat many businesses struggle to achieve, especially in 2020. But this is exactly what a new organization in Ohio is doing. The Centre for Food innovation @ Oberlin launched this month and is helping local food businesses all across the region.

In the past, issues in the agricultural business led to unemployment and empty buildings. The organization plans to solve problems around food shortages and attract attention to Ohio’s agricultural industry by utilizing those unused buildings to develop vertical hydroponic farming. This would allow them to utilize readily available space and support year-round farming, also expecting to create over 20,000 jobs in the state. Ohio food businesses wouldn’t have to import food from overseas and could even learn to grow it themselves through the organization.

Are you developing a new strategy in response to Covid? Did you know your R&D efforts 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.

Revitalizing the Manufacturing Industry

The Clean Energy Smart Manufacturing Innovation Institute (CESMII) aims to build value in the manufacturing industry by taking advantage of smart technologies including software and sensors. CEO John Dyck says that the institute intends to revitalize US and global manufacturing by tackling the challenges that come with implementing these new technologies, as well as the company data flow issues. For instance, CESMII have developed a basic set of technologies for manufacturers and are funding six month projects to solve specific problems, up to a value of $250,000.

Based in California, the institute is developing regional centers across the US including Texas, New York and plans to expand to the Midwest over the coming year. These regional centers will allow for greater industry specialization.

Ohio could well become home to the new manufacturing center as Dyck lives in Northeast Ohio himself. He stated that, “Not having a presence in the Rust belt is a huge strategic gap.” Furthermore, a potential collaboration with business development organization, Team NEO, may be in the works. Team NEO is interested in increasing Ohio’s adoption of smart manufacturing technology in order to maintain a competitive edge.

CESMII is the ninth manufacturing innovation institute to be developed by the government in order to encourage advanced manufacturing R&D. They attempt to assist manufacturers by organizing support from academics, application vendors and system integrators to solve current issues, with the solutions becoming open-source once completed.

New Material Offers a Revolutionary Way to Power Electronics

A recent finding by a research team stationed at Ohio State University could possibly change how future electronic devices are fabricated.

The Ohio State team worked out a unique way to improve how our electronics utilize electrons. They’ll achieve this using a new material that can serve two distinct roles in an electronic device. The dual nature of the material will eliminate the need for manufacturers to use multiple materials.

“We have essentially found a dual-personality material,” said Joseph Heremans, co-author of the study, professor of mechanical and aerospace engineering and Ohio Eminent Scholar in Nanotechnology at Ohio State. “It is a concept that did not exist before.”

The research team has decided to call this unique material phenomenon and electronic structure “goniopolarity”, to reflect its dual functionality.
If everything works and goes as planned, technologists will be able to avail this discovery to create different sorts of electrical devices, from light emitting diodes in display screens to solar cells. The material can also be used in laptops as well as light sensors needed for our smartphone cameras.

With each device, the material works by moving holes (positive charges) and electrons (negative charges) to conduct electricity. And to complete this process in the past, different materials were needed. One to act as a hole holder whereas the other acts as an electron holder. No material, hitherto, could act as both.

The new material, NaSn2As2, however, is a superlattice (layered crystal) capable of doubling as a hole holder and electron holder simultaneously. The team believes the material works this way due to its exceptional electronic structure. Better yet, the team pointed out there may be other layered materials (yet to be identified) that boast similar properties.

“We just haven’t found them yet,” Heremans said. “But now we know to search for them.”