Wyoming and Colorado Team Up to Support Climate Resilience R&S

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The Colorado-Wyoming Climate Resilience Engine has launched the first round of investments in their Research and Development and Translation/Startup projects. This included funding from the U.S. National Science Foundation (NSF) Regional Innovation Engines program.

Governors Jared Polis of Colorado and Mark Gordon of Wyoming collaborated to announce the recipients of the inaugural grant program by the CO-WY Climate Resilience Engine. This partnership signifies a new phase in the joint efforts of the two states to create climate resilience solutions that safeguard communities, encourage innovation, and stimulate economic development. 

The Winners of the Climate Resilience Engine include:

  • University of Wyoming
    • Project Title: Weather extremes and water resource climate transitions in Colorado and Wyoming
  • Colorado State University
    • Project Title: Developing soil pyrogenic carbon monitoring and modeling capabilities to improve prediction of wildfire impacts and biochar management on ecosystem resilience and C sequestration. 
    • Project Title: Evaluation of monitoring, reporting, and verification (MRV) technology for cattle feedlots. 
  • University of Colorado Boulder
    • Project Title: Mapping Vulnerability: Assessing the Built Environment’s Susceptibility to Wildfires through AI and Big Data. 
  • Colorado School of Mines 
    • Project Title: Predicting Regional Wildfire Risk through Climate-Wildfire-Power-System Interactions. 
  • High Plains Biochar
    • Project Title: CO-WY Biochar
  • Page Technologies
    • Project Title: Next-Gen Soil Monitoring: Wireless Printed Sensors for Agriculture
  • Aquanta Vision Technologies Inc
    • Project Title: Commercialization of an enhanced methane leak detection platform

“When Wyoming joined the engine, we were focused on identifying and addressing specific Wyoming issues, including the impacts of droughts and wildfires,” Governor Gordon said. “Wyoming and Colorado may not be in alignment on many issues, but I will always support efforts within each of our states to benefit our citizens.” 

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.

Chilly Dip Ice Spas Secures Finalist Spot in Casper Start-Up Challenge

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Chilly Dip Ice Spas has been named a finalist in the 2024 Casper Start-Up Challenge.

Chilly Dip was founded by three friends, including Casper-resident Josh Kalinowski. Kalinowski played minor league baseball for years and has become intimately familiar with using ice baths to deal with the aches, pains, and injuries of the sport.

The startup has designed their own ice bath that fights the challenges most present. An ice bath tub is usually too small, too inconvenient, too uncomfortable and way too expensive. The Chilly Dip, as its name implies, is a versatile “tub” that can be used at home, on the go, at gyms or sporting events, in a backyard or garage or, really, anywhere one could think of.

“We want to have a product that represents the heart of Wyoming,” Kalinowski stated at the Casper Start-Up Challenge. “We’ve got great people in our state and we’ve got great manufacturing here. We’ve got people here that build wonderful, durable, long-lasting products that they can stand behind. And I believe, with the Chilly Dip, that we’ve created something that represents the state of Wyoming in all the best ways. This is going to bring jobs to the state. It’s going to bring opportunities. It’s going to bring notoriety to the state, specifically to Casper.”

The company has already designed three versions to maximize accessibility. The OG Chilly Dip is mostly stationary and can be hosted in a garage, backyard or gym, but the Chilly Dip MD and Lil’ Dip are inflatable and portable and perfect for on-the-go CWI therapy.

The Chilly Dip is one of five finalists in the Casper Start-Up Challenge, which, according to the Advance Casper website, exists to help “new, independent businesses in the seed, start-up, or early growth stages in Natrona County.” The top three winners of the Casper Start-Up challenge will receive seed money, in addition to marketing, networking and mentorship assistance throughout the challenge and beyond.

Kalinowski and his team will present the small business plan for the Chilly Dip during the 2024 Casper Start-Up Challenge Pitch Night, happening on Sept. 5 at Frontier Brewing Company. The Pitch Night starts at 5:30 p.m. and the public is welcome to attend and hear Kalinowski, as well as the other finalists, pitch their start-ups to a select, diverse panel of judges.

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.

Unlocking Buyer Confidence: UserEvidence’s Breakthrough Research and Development

Software People

UserEvidence, Inc., a company on a mission to transform the game for Go-to-Market (GTM) teams, has announced a successful Series A funding round leading to $9 million in investment. The funding round was led by Crosslink Capital with participation from Founder Collective, Afore and Next Frontier Capital.

UserEvidence’s customer voice platform is at the heart of their innovation. This cutting-edge technology automates the generation of social proof elements that every GTM team craves: verified case studies, glowing testimonials, and compelling statistics. What used to take days or even weeks can now be accomplished in mere minutes. This development effort is winning the trust of top-tier companies like Pendo, Workato, Gong, Jasper.ai, and Ramp. Here’s how.

Imagine the power of having a stream of real, verified success stories and testimonials at your fingertips. This wealth of social proof not only boosts buyer confidence but also shortens sales cycles and, ultimately, increases win rates. It’s a game-changer in the world of B2B sales and marketing.

UserEvidence’s $9M Series A funding announcement is a testament to the company’s dedication to enhancing GTM teams’ effectiveness. This investment will undoubtedly fuel further research and development, leading to even more innovative solutions that empower businesses to build buyer confidence.

In a world where trust is a rare and valuable commodity, UserEvidence is paving the way for B2B companies to thrive. With their research-driven approach to automating social proof, they are changing the game and helping GTM teams succeed.

As UserEvidence continues to evolve and expand its offerings, one thing is clear: the future of buyer confidence is brighter than ever, thanks to their commitment to research and development. Stay tuned for more game-changing innovations from this trailblazing 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.

8 Rivers Capital, LLC has Been Awarded $1.8M in Funding to Support their Hydrogen Production Plant

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8 Rivers Capital, LLC has been awarded $1,802,863 in funding to support their pre-front-end engineering design study for a new hydrogen production plant equipped with 8RH2 technology. The funding comes from two sources, with the Department of Energy (DOE) providing $1,412,863 of the funding. 

The hydrogen production plant will cost-effectively produce 100 million standard cubic feet per day of 99.97% pure hydrogen and capture 90-99% of carbon dioxide emissions. This study is set to evaluate three design cases implementing varying processes of the 8RH2 equipment and a CO2 separation unit. The captured CO2 (~600,000 tonnes/year) will be transported and stored at Painter Reservoir Gas Complex in Evanston, Wyoming, and the hydrogen product will be converted to ammonia for rail export to California. The project will deliver a detailed engineering package, including a levelized cost of hydrogen for the three design cases.

8 Rivers Capital has committed themselves to building Net Zero 2050, which means they are building the technology to support companies as they strive to meet their net-zero goals. Their 8RH2 process generates clean hydrogen with full carbon capture and at less cost than any other existing hydrogen production technology.

8 Rivers Capital is not the only company to receive funding from the DOE this round. The DOE has awarded a total of $24.9M to 6 projects focused on advancing hydrogen technologies for electricity generation. The remaining 5 projects include:

  • Investigation of Ammonia Combustion for Turbines (IACT) by the Gas Technology Institute
  • Advanced Mixed Mode Combustors for Hydrogen F-Class Retrofit by the General Electric Company
  • Demonstration of a Gas Turbine-Scale RDC Integrated with Compressor and Turbine Components at 7FA Cycle Conditions by the General Electric Company
  • Development of Hydrogen Burner for FT4000 Aeroderivative Engine by Raytheon Technologies Research Center
  • Low-NOx, Operable Ammonia Combustor Development for Zero-Carbon Power (LOAD-Z) by Raytheon Technologies Research Center.

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.

Eco Depot Acquires Remaining Shares of Development One

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Eco Depot Inc. has announced their acquisition of Development One Nanotechnologies and Energy Inc. 

Development One is a Wyoming-based corporation specializing in the R&D of nano carbon atoms and polymer products within the coatings and construction industries. Eco Depot Inc has acquired all outstanding common shares of Development One.

Development One has previously developed a proven coating for the industrial space capable of increasing strength by 300% while lowering friction. It is also less abrasive and lubricating than other options. They have also developed other products like cement additives which can improve tool life and efficiency in the oil and gas industry. 

Eco Depot acquires, manages, and develops eco-friendly real estate assets and consumer and industrial brand products. Development One works with industry leaders to address infrastructure issues related to corrosion. Between their R&D skills and Eco Depot’s focus on investing in green technologies, the two companies will continue to advance the future of concrete while reducing the carbon footprint of the industry.

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.

Wyoming to House America’s Largest Wind Farm

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Billionaire Philip Anschutz is building America’s largest windfarm in Carbon County, Wyoming. The wind farm’s 1000 turbines will generate enough electricity to power all of San Francisco and Los Angeles.  The project will cost $8 billion, with $100 million already invested.

Wyoming has some of the strongest winds in the country due to air funneling through from the Rocky Mountains. However, the project is facing backlash and many Wyoming citizens believe that the farm will have a negative effect on the state’s coal industry as well as create an eyesore.

The only state to tax wind power, Wyoming’s lawmakers are pushing for an increase in the renewable energy tax from $1 to $3 or $5 per megawatt hour. Opposers fear that this will push wind developers away and result in a loss of new jobs. Economist Robert Godby suggests instead that the state provides a tax break to developers building wind farms to create jobs and opportunities.

Other wind projects in the state include Viridis Eolia’s $3 billion wind farm and Rocky Mountain Power’s $3 billion wind farm and transmission line.

John Hensley, Deputy Director of industry data and analysis for the American Wind Energy Association believes that Wyoming could lose a major opportunity if it doesn’t soon accept wind power.

Globally, wind power is growing at around 25% per annum and the US aims to produce at least 20 percent of its electricity with wind power by 2030. To ensure future wind power growth, the technology must keep evolving to improve reliability and capacity and reduce costs. If your company is conducting research and development activities relating to renewable energy, it may be eligible for the research and development tax credit. Contact Swanson Reed R&D Tax Advisors to learn more.

How Does Your State Rank on the Innovation Scale?

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Innovation Is Key

Innovation is crucial to sustainable economic growth, but for innovation to occur businesses must have both the incentive and the capacity to invest.

As innovation is key to the United States’ economy as a whole, many U.S. states are showing off while others are falling short when it comes to patents, R&D, venture capital and academics.

So which states are excelling in innovation and which ones are lacking, you ask?

Patents

The top states in patents per population include:

  1. Wisconsin
  2. Washington
  3. Texas
  4. Utah
  5. California
  6. Massachusetts

The bottom five patented states include:

  1. Alaska
  2. Mississippi
  3. Tennessee
  4. West Virginia
  5. Wyoming

Venture Capital

The top states for venture capital are:

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

The lowest are:

  1. Arkansas
  2. Alaska
  3. Hawaii
  4. Wyoming
  5. Iowa
  6. South Dakota

R&D Spending

The leaders in R&D spending are:

  1. Delaware
  2. Michigan
  3. California
  4. Connecticut
  5. Massachusetts

The states that spent the least on R&D include:

  1. Arkansas
  2. Wyoming
  3. Louisiana
  4. Alaska
  5. Mississippi

Academics

As for academics, the top states include:

  1. New Mexico
  2. Maryland
  3. Rhode Island
  4. Massachusetts
  5. Alabama

The lowest academic rankings were for:

  1. Louisiana
  2. Arkansas
  3. Delaware
  4. Wyoming
  5. Nevada

If you are a U.S. based company conducting R&D you may be eligible for the federal and/or state research tax credit. Please contact a Swanson Reed representative to find out further information.