R&D Tax Credits for Concord, North Carolina Businesses

Concord, North Carolina, thrives in industries such as manufacturing, healthcare, education, retail, and motorsports. Top companies in the city include Philip Morris USA, a leading manufacturing company; Atrium Health, a major healthcare provider; Cabarrus County Schools, a significant educational institution; Concord Mills, a key player in the retail sector; and Charlotte Motor Speedway, a prominent motorsports venue. The R&D Tax Credit can provide tax savings for these industries by incentivizing innovation and technological advancements.

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Swanson Reed is one of the only companies in the United States to exclusively focus on R&D tax credit preparation. Swanson Reed’s office location at 6255 Towncenter Drive, Clemmons, North Carolina is less than 70 miles away from Concord and provides R&D tax credit consulting and advisory services to Concord and the surrounding areas such as: Charlotte, Greensboro, Durham, Winston-Salem and High Point.

If you have any questions or need further assistance, please call or email our local North Carolina Partner on (984) 480-4601.
Feel free to book a quick teleconference with one of our North Carolina R&D tax credit specialists at a time that is convenient for you. Click here for more information about R&D tax credit management and implementation.



Concord, North Carolina Patent of the Year – 2024/2025

First Ammonia Motors Inc. has been awarded the 2024/2025 Patent of the Year for its innovative approach to on-board hydrogen generation. Their invention, detailed in U.S. Patent No. 12109546, titled ‘System and method for heating gas in a continuous focused path within an electric heating unit’, introduces a compact, efficient system for converting ammonia into hydrogen fuel within vehicles.

This breakthrough utilizes 3D-printed lattice heating elements housed inside ceramic tubes. As ammonia gas flows through these structures, it undergoes a controlled heating process that facilitates its dissociation into hydrogen. The lattice design balances surface area and heat distribution, ensuring effective conversion without overheating the components.

Traditional systems for ammonia dissociation are often bulky and unsuitable for mobile applications. First Ammonia Motors’ design addresses this by offering a lightweight, durable solution that can withstand the high temperatures and corrosive environments typical of engine operations. This makes it particularly valuable for vehicles aiming to reduce emissions by using hydrogen as a clean fuel source.

By enabling efficient, on-demand hydrogen production from ammonia, this technology supports the transition to greener transportation options. It offers a practical path forward for integrating hydrogen fuel into existing vehicle platforms, potentially reducing reliance on fossil fuels and lowering environmental impact.


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North Carolina Office 

Swanson Reed | Specialist R&D Tax Advisors
6255 Towncenter Drive
Suite #816
Clemmons, NC 27012

 

Phone: (984) 480-4601