Nevada Patent of the Month – December 2023

Scandium International Mining Corp (SCY) has a portfolio of technology-driven mineral projects which aim to bring about a more efficient and greener global transportation sector. Recently, the company has been granted a patent for their technology which marks a significant stride in the extraction and processing of scandium, a rare and valuable metal.

This novel approach holds immense promise for industries ranging from aerospace to electronics. Scandium, known for its lightweight and high-strength properties, has been a sought-after element for enhancing the performance of various alloys. However, its limited availability posed a challenge to widespread utilization—until now.

SCY’s patented method introduces an efficient and environmentally conscious approach to extract scandium from its primary sources. The traditional extraction methods often involved complex and resource-intensive procedures, but this new technology streamlines the process, making it more economically viable. Their method leaches the valuable ore through a series of sulfuric acid baths and ion exchange resins.

The implications of this innovation are far-reaching. Industries relying on lightweight yet robust materials, such as aerospace and defense, stand to benefit significantly. The integration of scandium into aluminum alloys, for instance, can result in materials that are not only lighter but also possess enhanced strength and durability.

Furthermore, the technology aligns with the growing emphasis on sustainable practices within the mining sector. By optimizing the extraction process, SCY contributes to reducing the environmental impact traditionally associated with resource extraction.

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 or contact your usual Swanson Reed representative.

Recent Posts