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

OptiTrack Opens New R&D and Manufacturing Facility

NaturalPoint (DBA OptiTrack) has opened a new manufacturing facility in Corvallis, Oregon. NaturalPoint is a subsidiary of Planar Systems, whose parent organisation is Beijing-based Leyard Optoelectronic.

OptiTrack provides 3D tracking technology with a comprehensive range of cameras, software and accessories. The firm’s new facility expands its presence in Corvallis which already houses the company’s headquarters and manufacturing operations.

The building, spanning 25005 sq ft, offers a new surface-mount technology (SMT) line and increased warehouse storage capacity. It also provides dedicated spaces for prototyping, additive manufacturing and assembly.

The upgraded facility allows it to better meet demand for 3D tracking solutions as well as shorten lead times for customers worldwide. Furthermore, it will also create new jobs and bolster its on-site research and development efforts.

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.

BurnBot Raises $20M to Revolutionize Wildfire Prevention with Mechanized Solutions

Florida Patent of the Month - December 2021

In a significant move towards combating destructive wildfires, BurnBot, Inc. has announced the close of a successful Series A funding round, securing $20 million in financing to expand its mechanized vegetation management and fuel treatment solutions. Led by ReGen Ventures, with participation from several prominent investors, this funding will propel BurnBot’s mission to revolutionize wildfire prevention through innovative technology.

At the heart of BurnBot’s innovation is the RX, a mechanized prescribed fire system designed to amplify prescribed fire capacity while minimizing risk. This technology enables small crews to treat areas ten times faster and more efficiently, even near communities and critical infrastructure, making it safe for year-round use.

Partnering with organizations like CAL FIRE, BurnBot’s technology has already made significant strides in wildfire prevention across California and Oregon. From precisely deploying prescribed fire under high-voltage transmission lines to clearing hazardous brush around evacuation routes, BurnBot’s solutions have proven instrumental in mitigating wildfire risks.

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.

Mindtrip is Streamlining Travel Planning with AI

In a world where travel is becoming increasingly personalized, the need for smarter, more efficient trip planning tools has never been greater. Enter Mindtrip, the AI-driven trip planner that’s changing the game. With a recent injection of $7 million in funding, Mindtrip is poised to reshape the travel industry through innovative research and development.

Traditional trip planning can be a time-consuming and overwhelming process. From sifting through countless travel options to creating itineraries that cater to individual preferences, travelers often find themselves in need of a helping hand. Mindtrip recognizes these pain points and leverages the power of artificial intelligence to provide a solution.

The core concept behind Mindtrip is simple; by harnessing AI technology, the platform takes the hassle out of travel planning, offering users customized trip recommendations that align with their interests, budgets, and schedules. This personalized approach not only saves time but also enhances the overall travel experience.

The recent $7 million in funding, a testament to the industry’s belief in Mindtrip’s potential, will be instrumental in furthering the company’s research and development efforts. With this financial boost, Mindtrip aims to refine its AI algorithms, expand its database of travel information, and enhance user interfaces. The ultimate goal? To offer travelers an unparalleled trip planning experience.

One of the key advantages of Mindtrip’s AI-driven approach is its ability to adapt and evolve. As users engage with the platform and provide feedback, the AI continuously refines its recommendations, becoming smarter with each use. This iterative process ensures that Mindtrip remains at the forefront of travel technology, setting new standards for trip planning efficiency.

The implications of Mindtrip’s research and development efforts extend far beyond individual travelers. By streamlining the planning process and encouraging exploration, the platform has the potential to boost tourism in various destinations. This, in turn, can stimulate local economies and promote sustainable travel practices.

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.

Rainbow R Technologies Brings in $1M in Seed Funding

Rainbow R Technology, a Portland-based startup, has raised $1 million in a seed funding round. This funding will be used to accelerate the development of their flagship product: Rainbow R Adventures. Companies are also now able to join the waitlist to experience the AI-powered indoor playground software.

The playground uses AI technology to perform communications and security which then helps monitor customer traffic, identify peak hours, and understand customer behavior. By analyzing this data, AI can provide recommendations to improve customer experience and help increase revenue.

Continued development will see improvements to the AI security and hardware features. They also intend to build an additional layer of safety and security for indoor playground owners and entrepreneurs. The launch of the technology will take place in the fall of 2023.

The women-owned startup ran a successful funding round with the help of family, friends, and local women investors.

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.

NuScale Power’s SMR to be Certified by the Nuclear Regulatory Commission

Recent updates from the Nuclear Regulatory Commission (NRC) indicate NuScale Power is in for some good news. The NRC have indicated they will certify NuScale’s 50-MWe (160 MWth) small modular reactor (SMR) design.

NuScale submitted an application in December 2016 for their standard SMR design. After 6 years of review and debate, the certification will officially designate the design as meeting the agency’s stringent safety requirements. Once finalized, the NRC will publish their ruling in the Federal Register and the certification will take effect 30 days thereafter.

Once certified, NuScale’s SMR will become only the seventh reactor design certification awarded by this regulatory body. That means only 7 designs have been issued safe to use in the U.S.

This certification won’t be the first milestone for the company as they became the first SMR to receive a final safety evaluation report (FSER) from the NRC as a part of a Phase 6 review. This milestone was hit on August 28, 2020.

While awaiting this certification, NuScale has been hard at work redefining nuclear power. The company recently announced a new business collaboration agreement with National Technical Systems (NTS) which will work to establish an Equipment Qualification (EQ) Test Chamber. This technology, built by NTS, will allow NuScale to mimic the range of environmental conditions under which NuScale equipment is required to function in order to meet U.S. Nuclear Regulatory Commission and plant-specific requirements. The company continually works towards their goals of developing technology to supply energy for electrical generation, district heating, desalination, commercial-scale hydrogen production and other process heat applications.

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

Who We Are:

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

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.

Biomotum Receives $300K as First Place Winner in Angel Oregon Life and Bioscience Investment Program

Biomotum has been announced as the winner of Angel Oregon Life and Bioscience in Portland. This win comes with $300,000 in investment funding for the wearable robotics startup.

The company has dedicated themselves to developing solutions which optimize human mobility. Their solutions include the development of intelligent and intuitive wearable systems. These exoskeleton solutions are designed by expert engineers which can offer mobility solutions to physical therapists, orthotic and prosthetic professionals, and individuals who experience walking impairment and disabilities.

The exoskeleton is designed with an ankle actuator built from ultra-lightweight carbon fiber. This component achieves finely-tuned mobility with both plantar-flexor and dorsiflexor torque. Torque angle sensing optimizes control and monitoring. A waistpack stores the brains, battery, and motors of the exoskeleton including lithium-ion batteries. With a control interface available on any device, the device transforms mobility rehabilitation, helping those with walking impairments to live without limits.

The company was up against four other finalists including:

Savorease Therapeutic Foods – a startup focused on creating finger foods for people with swallowing or chewing difficulties;
Inherent Targeting – a startup developing fluorescent imaging agents to visualize nerves during surgery;
StoneTable – a startup developing a way to increase vaccine stability with a silica coating.

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.

JSR to Acquire Oregon Start-Up, Inpria, for $514M

ETRAK Technologies to Compete for $75K in Funding from Alabama Launchpad

Inpria Corp., a start up with origins in Oregon State University, has developed revolutionary materials used in microchips. Recently, they have announced they will be acquired by the Japanese firm JSR for $514 million.

This revolutionary material comes in the form of a first-of-its-kind inorganic photoreactive liquid which can improve the production of more powerful, cost-effective, and energy-efficient microchips used in all sorts of electronics. This inorganic, tin-oxide base is put through a photolithography process to produce the semiconductor microchips. This process involves applying a nanometer-thin layer of their light-sensitive solution to a silicon wafer, using extreme UV (EUV) light to record and replicate a stencil pattern onto the chemical coated wafer. This can then be transferred to create the circuit patterns. The short wavelengths of EUV allow for the smallest possible patterning.

The more precise the patterning materials and process, the smaller patterns manufacturers can create, which allows for production of more powerful and energy-efficient semiconductor microchips.

After their founding in 2007, Inpria drew plenty of attention and attracted investors like Intel and Samsung. These big players also believe that Inpria’s technology could be the next step in progressing the development of chips and processors.

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 automotive R&D facility opens in Oregon

The automotive commercial vehicle manufacturer, Daimler Trucks North America (DTNA) has officially opened its Oregon-based research and development facility.

The 87 acre, $18.7 million R&D facility consists of a state of the art test track, a brand new 32,000 square foot office that will be home to approximately 40 employees, a sizable workshop with 14 service bays for technicians to work and several driver lounges and conference rooms.

DTNA invested in the following R&D facility to solidify and validate itself as North America’s undisputed market leader and become a louder player in the realm of R&D. In addition, it is also hoped that the following facility will allow for DTNA to bring its innovative technology to the market faster than ever before.

DTNA’s president and CEO says he is excited for the future opportunities which lie ahead as a result of this significant R&D investment. The R&D projects to be carried out at the facility will allow for the company to become a more predominate player in the testing of product durability and reliability. In addition, the facility will also aid in the company’s future plans to test autonomous vehicles at the facility.

The location of Madras was specifically chosen because of its proximity to the company’s Portland headquarters. This allows the engineering team to travel by car to access the testing facility and will significantly save the company time and bring the engineers closer to the product.

The new test track at the facility is very similar to the one in Germany and Brazil and is specifically engineered to help DTNA determine a truck’s full service life in just six months.

While this R&D investment is an exciting opportunity for DTNA as a company, it is also an exciting time for Madras as a city. Having DTNA invest in Madras has shown to be a win-win for both parties and the city of Madras looks forward to supporting the undisputed market leader in the commercial vehicle industry.

If your company is currently or has recently invested in R&D, it may be eligible for an R&D tax credit. To receive an eligibility assessment and be guided through the R&D claim process, contact a Swanson Reed R&D Tax Adviser today. We look forward to speaking with you.

Innovative Chocolate Shop Makes Zombie Bunnies

Tired of traditional Easter bunnies? An innovative chocolate shop in Medford, Oregon, is selling Voodoo Bunnies – blood-splattered, zombie bunnies with exposed brains and eyeballs hanging out!

Voodoo Bunnies take up to five hours to make and are made only twice a year at Easter and Halloween. The idea originated from regular Easter bunny chocolates that ended up with defects. The chocolatier added marzipan and colored cocoa butter and the Voodoo Bunny was born. They became so popular that they had to be removed from the website after going viral on Twitter.

Lillie Belle Farms Artisan Chocolates was started in 2002 by Jeff Shepherd, a chef who began selling truffles at a farmer’s market. Always experimenting, he has tried thousands of combinations, “from Thai chili and lemongrass to crystallised flower petals.”

Jeff’s R&D has certainly paid off. Now his shop is renowned across the country. Dessert Professional magazine named him as one of the 10 best chocolatiers in the US in 2009, and his salted lavender truffle won a silver medal at the International Chocolate Awards in 2013. One year, his chocolates ended up as Martha Stewart’s corporate gifts.

Other creative products from the shop include chocolate covered pears and the ‘Do Not Eat This Chocolate,’ made with a generous ratio of ghost chillies. They have even partnered with a local cheese shop, Rogue Creamery, to create an amazing cheese truffle. It took many failed attempts and they nearly gave up on the idea, but it was worth the perseverance in the end. As Jeff recalls, “One day we decided on using their Smokey Blue, organic milk chocolate and toasted almonds in an exact ratio and voila! The ultimate blue cheese truffle was born… We have been making them for 10 years now and while we are quite aware of how weird they sound, we also know just how incredibly good they are. We put about a year into the R&D. Now it’s perfect.”

As Lillie Belle has proven, investing in the creation of new product lines in order to differentiate a company can create a strong competitive advantage. Companies undertaking certain R&D activities can claim the state and federal R&D tax credit, which can then be reinvested into the business. To find out whether your business qualifies, contact Swanson Reed R&D Tax Advisors.

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