Mississippi Patent of the Month – December 2023

ALGIX, Inc. has been directing their expertise towards developing sustainable materials that could address pollution in the environment. With years of research and commitment to innovation, the company has recently been granted a patent for their algae-based thermoplastic materials.

The thermoplastic composition combines a dried out protein-rich algae with a biodegradable resin. Depending on the specific composition, the company is able to produce both thermoplastic elastomers (TPE) and rubbers (TPR) . By tapping into the regenerative potential of algae, ALGIX aims to offer an alternative to traditional, environmentally harmful materials. This aligns with a broader movement in the industry, emphasizing sustainability and a circular approach to material sourcing.

What makes this patent particularly intriguing is the potential to replace conventional plastics with biodegradable alternatives without compromising performance or functionality. The innovative thinking demonstrated by ALGIX showcases a dedication to finding solutions that balance technological advancements with ecological responsibility.

ALGIX’s TPR has a renewable content of at least 45%, offsetting a significant portion of traditional TPR required for footwear manufacturing. Similarly, their TPE has a renewable content of at least 45%. Currently, ALGIX is directing their TPE material towards insoles, midsoles, yoga mats, and various footwear and sporting goods needs

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.

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