Houston R&D Tax Credit Explained for Businesses

R&D Tax Credits for Houston, Texas Businesses

Houston, Texas, is a major hub for industries such as energy, healthcare, aerospace, manufacturing, and technology. Top companies in the city include ExxonMobil, a leading energy company; Texas Medical Center, a major healthcare provider; NASA’s Johnson Space Center, a significant aerospace employer; Halliburton, a key player in the manufacturing sector; and Hewlett Packard Enterprise, a prominent technology company. The Research and Development (R&D) Tax Credit can help these industries save on taxes by encouraging 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 2800 Post Oak Boulevard, Houston, provides R&D tax credit consulting and advisory services to Houston and the surrounding areas such as: Pasadena, The Woodlands, Sugar Land, Baytown and Conroe.

If you have any questions or need further assistance, please call or email our local Houston Partner on (281) 899-0056.
Feel free to book a quick teleconference with one of our Texas 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.

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Houston, Texas Patent of the Year – 2024/2025

ICE Thermal Harvesting LLC has been awarded the 2024/2025 Patent of the Year for its groundbreaking approach to sustainable energy in drilling operations. Their invention, detailed in U.S. Patent No. 12110878, titled ‘Systems and methods for generation of electrical power at a drilling rig’, introduces a system that captures waste heat from drilling processes to generate electricity on-site.

The system utilizes heat exchangers to harvest thermal energy from sources like drilling fluid, engine exhaust, and engine cooling systems. This heat is transferred to a working fluid, which then powers an Organic Rankine Cycle (ORC) unit to produce electricity. The generated power can be used directly at the drilling site, reducing reliance on external energy sources.

Designed for integration with existing drilling infrastructure, the technology offers a modular and scalable solution. Its implementation can lead to significant reductions in operational emissions and energy costs. By converting waste heat into usable power, the system enhances efficiency and supports environmental sustainability in the energy sector.

ICE Thermal Harvesting LLC’s innovation represents a significant advancement in clean energy technology for industrial applications. By turning previously wasted heat into a valuable resource, this system exemplifies how engineering ingenuity can contribute to more sustainable and efficient industrial practices.