FuelGems Raises $895k in Crowdfunding for Clean Fuel Additive
In an impressive crowdfunding attempt, FuelGems has raised $895,000 in funding. FuelGems is a brand new clean energy company focused on a fuel additive that will reduce harmful greenhouse gas emissions. They have spent the past five year developing and testing their fuel additive and are trying to increase production to bring it to the market.
They developed this product to increase the efficiency of diesel and gas burning. Adding 1-5 g of their additive will treat up to 260 gallons of fuel and reduces harmful greenhouse gas emissions by 50%. Composed of EPA-approved carbon-based nanoparticles, this environmentally friendly additive helps reduce pollutants and reduce fuel consumption.
FuelGems is hoping their additive will go beyond helping to increase fuel efficiency and help increase global health. The World Health Organization (WHO) suggests that 9 out of 10 people breathe in pollutants that exceed their guidelines for safe quantities. FuelGems hopes that the reduced emissions from their additive will help to prevent disease and ailment from this exposure. Additives like FuelGems could help reduce global emissions while we continue to use gasoline and diesel as our main fuel source.
Are you developing new technology? 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.