Recent News – Page 2 – Swanson Reed | Specialist R&D Tax Advisors

XL Fleet Opens Fleet Electrification Technology Center

XL Fleet has announced the opening of a brand new 25,000 sq ft R&D center in Wixom, Michigan as they work to enhance their sustainable technologies for the commercial fleet industry.

Boston-based XL Fleet began in 2009 when the green transportation market was in its infancy. They started with a mission to provide simple, sustainable electrification solutions to the commercial fleet market – and this mission continues today.

The opening of this new Fleet Electrification Technology Center provides XL Fleet with the ability to expand their footprint and capacity, increasing their talent pool and technology. The center will include a component test lab with a vehicle chassis dynamometer, electronics lab, and battery testing equipment.

Alongside the creation of 50 high-skill engineering positions in Michigan, they are hoping the facility will provide the potential to further their path breaking innovations in their home state.

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.

Goodness Growth to Enter Psychedelic Research

Following success in cannabis research, Minnesota-based Goodness Growth Inc. has announced their plans to enter the psychedelics world. They intend to initiate clinical research into plant-based psychedelic medicine. This research will be conducted by their subsidiary, Resurgent Biosciences.

Resurgent Biosciences is a non-plant touching entity, which focuses on developing naturally-derived medicines, therapies, products, and technologies for use in health, wellness, and recreation. Psychedelics have been an increasingly popular topic of research, as their benefits are being uncovered in areas like mental health and anxiety treatment. Recent studies have been published highlighting the efficacy of psilocybin as a treatment for depression.

“I wanted to wait for a kind of threshold of evidence to make sure this was a real opportunity, and that it would be real medicine for people ” said Dr. Kyle Kingsley, CEO of Goodness Growth. “It’s gone beyond that. It’s really sort of exceeded my expectations as far as the therapeutic potential of psychedelics.”

Following these research advancements, Goodness Growth decided to join the game and begin contributing to this clinical research. They intend to partner with other like-minded businesses to begin expanding this research body before moving into commercialization. They believe psychedelics will significantly alter the landscape for treatment of psychiatric disorders in the same way cannabis altered treatment of chronic pain.

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.

Local Medicinal Manufacturing can Speed Up Clinical Trials

Pennsylvania Patent of the Month - May 2021

Snapdragon Chemistry is a leader in flow chemistry and process development. They work to find solutions to harness significant advantages of continuous flow technology and autonomous reaction platforms. These solutions can be used to enhance the discovery, development and manufacturing value chain.

This past year showed many weaknesses in the manufacturing of medicines for clinical trials. Many of these medicines rely on international partners to meet certain steps of the pipeline. Snapdragon Chemistry saw these limitations and decided it’s time to revamp the processes involved. They have since been developing methods for local manufacturing. This solution brings reliability and resilience to the industry as well as reduces the time needed to bring new medicine to patients.

Their focus is on developing the technologies needed to speed up the clinical trials processes through local manufacturing. In order to achieve this, they have begun development of a 51,000 sq ft facility in Massachusetts. This facility will offer space to produce specialty chemicals for use in medicinal formulations in house. With the use of their automated technologies, Snapdragon believes their innovation will only pick up speed.

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.

AquaLith to Bring Novel Lithium Batteries to Market

Louisiana Patent of the Month - May 2021

AquaLith Advanced Materials is working to bring new lithium battery technology to market. These batteries were developed at the University of Maryland for everyday life technology such as phones, drones, and cars.

These lithium batteries offer a more sustainable approach to powering the eco-conscious devices and vehicles currently showing promise for wide use. They are built to withstand negative-50 degree temperatures. This feat was achieved using novel battery chemistries with water electrolytes. This novel design also offers a less flammable and more environmentally friendly approach.

As the electric vehicle industry continues to grow, experts are predicting a shortage of batteries. This shortage will be in part due to limited supplies of transition metals (eg. cobalt) used in traditional batteries. AquaLith’s novel batteries will offer an opportunity to overcome this shortage, thanks to the unique compositions. They are currently working on scaling production and developing the necessary processes to meet demand. They are also looking at building a new facility in Maryland to support their R&D and manufacturing.

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.

Neuroscience Cloud Platform Drives Scientific Collaboration

Brainlife.io – a free cloud platform for secure neuroscience data analysis – has initiated new studies on childhood brain development. With their proprietary software, scientists are able to perform cutting-edge analyses and integrate their neurophysiological data with MRI-based data. Brainlife is working to bring a new suite of tools to allow integration of other data such as EEG, MEG, and MRI results.

Neuroscientists, like Franco Pestilli, are interested in how the biological computations of the brain change over longer periods. In one example, they looked at how the brain changes as we lose our vision and found there is a change in the brain’s white matter. This type of research requires the complex processing and analysis of massive loads of data. Cloud technologies have been developed to automate or at least ease this analysis process.

Pestilli received a grant from the BRAIN initiative back in 2017 to launch Brainlife.io. Brainlife offers a computing platform that can support reproducible research on the cloud. Which means that scientists worldwide can access, upload, analyze, and share the results of their data. The platform services a range of scientists, from psychologists to neuroscientists, and has over 600 data processing tools. Not only can it help to process data, but it tracks every detail that happens to the data helping to track overarching trends. As more scientists join the platform, the platform gains expertise and development mechanisms. It’s these collaborations that have brought about the integration of MRI-based data and the proper analyses needed to connect these across to neurophysiological data.

In addition to expanding the integration of EEG, MEG, and MRI results, Brainlife also aims to create a national infrastructure with a registry for permanent data and analyses records. As the platform grows, so does the need for integration of hardware and software to support the tremendous database

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.

Team Effort Achieves Microgrid EV Fast Charging Station Designer

XENDEE develops world-class Microgrid decision support software. They aim to help designers optimize and certify Fight-Through resilience and performance in distributed energy systems. Recently, they have announced they teamed up with Idaho National Laboratory (INL) to create a Microgrid Fast Charging Station Designer.

In an effort to develop a sufficient and effective fast charger designer they tested and validated it in two in-depth case studies – one in a grid connected operation and the other as an islanded set up. They were specifically aiming to create a framework that could design renewable based Microgrid configurations that provide optimal EV fast charging and energy management. Built as an expansion on XENDEE’s existing platform, this new development can project simulations, financial optimizations, and operational dispatches to maximize system efficiency and detect early returns on investment.

By intelligently mapping all cables, transformers, and distributed technology interactions, their software can mitigate problems during peak use times. INL provided resources to test real-life viability through simulated applications. These tests showed the platform was capable of optimizing dispatch and generation throughout the day, allowing the Microgrid to take advantage of energy sales and better manage the electrical fleet.

With the increasing abundance of electric vehicles, high-power and high-speed charging stations will become more and more critical. With smart platforms like this, there is an opportunity to revamp and enhance Microgrid development.

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.

Blueprint Power using a First-of-its-Kind Demonstration to expand EV Capacity in New York

In a first-of-its-kind project, Blueprint Power has teamed up with the New York State Energy Research and Development Authority (NYSERDA) to improve energy management and enable a greater electric vehicle capacity.

Blueprint Power aims to help secure access to reliable, clean energy for cities and communities. They believe the key is to modernize the energy grids in cities and plan for resilience and efficiency on a larger scale.

Their project is set to take place in LeFrak City in New York, where it will showcase energy management technologies that could enable buildings to provide grid flexibility. By combining coordinated management of distributed energy resources like solar, batteries, flexible loads, and EV chargers with its demand responsiveness to load needs the net burden can be reduced at peak times. This in turn can allow for more efficient EV charging. In fact – the same amount of charging could be done with less infrastructure thereby reducing utility upgrade costs.

Networked buildings combined with onsite clean energy tech and EV charging can decarbonise buildings and transportation. New York City is a fantastic example for this application, as it’s building density provides a great network to build on. In addition, the project will provide an opportunity to collect data that can guide better optimization of solar, storage, and EV charger installations.

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.

Mydecine has Breakthrough Discovery in Medicinal Mushrooms

Mydecine Innovations Group Inc. has announced a groundbreaking discovery in their psilocybin research. Mydecine is an emerging biotech and life sciences company focused on developing solutions for a range of mental health problems. They operate in Canada as well as in their mycology lab in Denver, CO. This lab focuses on the genetic research and scaling cultivation of rare medicinal mushrooms. Their groundbreaking discovery showed over 40 compounds with pharmacological potential in these mushrooms.

This discovery came after screening over 25 mushroom species. These 40 unique compounds have been found throughout the various species. Most of these compounds have never been reported before. Mydecine believes they could be vital to the critical effects of naturally sourced mushrooms and their beneficial effects on human health. Most compounds within a mushroom have been evolved to protect the mushroom and affect biological systems and aspects of metabolic pathways. This is a great indication of their pharmacological indications.

Mydecine is hopeful that at least some of these mushrooms will contribute to psychedelic-assisted therapy and will continue to research and formulate potential drug candidates.

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.

Strateos Brings Remote R&D to Life

Strateos, a California startup might have the solution to remote R&D. With the events of the past year, many employees and workers experienced a “work from home” lifestyle. Some industries had a much harder time – especially those in R&D, who needed to be in the lab to work on their projects.

They have developed the Smart Lab to allow life science researchers to conduct experiments and analyses from anywhere in the world. With the use of robotics, the SmartLab platform connects a remote R&D team to one of two SmartLab Studios. Each of these labs are fully equipped with advanced research instruments for use in drug discovery, cell and gene therapy, and synthetic biology processes. Each of these tools and instruments will be operated by a fleet of robotics and automated workflows. Researchers can control or customize these workflows, removing the physical labor and without requiring a physical presence. Strateos recently had a successful series B funding round, bringing $56.1 million in to continue development of the SmartLab platform.

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.

Climavision Sees new R&D Facility in the Forecast

Mississippi Patent of the Month - June 2021

Climavision, Kentucky’s new weather-intelligence company, has announced they will be receiving a $100 million investment to open new R&D operations in North Carolina. The Rise Fund – a global impact investing platform – will help as Climavision strives to deliver technology and services that can help in the fight against climate change. Investments like this one aim at providing the technology needed to enable climate change solutions.

Climavision is a pioneering weather-intelligence company that is powered by a private network of high-resolution radars, GPS-RO data, and proprietary software. Their goal is to improve both timing and accuracy of weather forecasts as well as to fill gaps in weather surveillance. They were formed as a division of Enterprise Electronics Corp (EEC) – a massive supplier of weather radar systems.

With this $100M funding, they intend to open a new R&D department in Raleigh, North Carolina. Raleigh was chosen as it has a large local tech talent and a great meteorology program at North Carolina State University. They hope to use this division to change the landscape of weather forecasting, as they bring together a weather radar and satellite network with new prediction modeling tools. As of now, the industry relies on existing government data – but you can only interpret and analyze that in so many ways. With Climavision applying its own proprietary data to this mix, it can provide a more accurate forecast.

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.