technologies in the food industry. This tax credit can provide significant financial support for companies like Cargill and Cocuus, who are investing in the development of 3D printed plant protein.
The demand for unprocessed, non-GMO, protein-based food is growing rapidly, driven by health-conscious consumers and the global population expansion. Companies like Cargill are working towards a way to feed the world responsibly by reducing environmental impact and improving lives in different communities.
Cargill, the largest privately held company in the US, is disrupting the plant-based food industry. In 2022 alone, Cargill had US$165B in sales and produces a variety of branded and private-label meats and food ingredients. Now, Cargill is partnering with Cocuus, a Spanish startup specializing in developing industrial solutions for plant-based animal protein analogs.
Cocuus has recently raised US$2.8M in funding and reports being able to 3D print cutlets, bacon, lamb ribs, and salmon at a rate of 8 kilograms per minute, without the need to slaughter any animals. The startup has been recognized as a finalist for Spain Foodtech, supported by the National Center for Technology and Food Safety and ICEX Spain Export and Investment.
Cargill has taken notice of Cocuus and their technology. The two companies are collaborating to 3D print food in sustainable and nutritious ways. Many companies in the food industry are already able to 3D print a broad variety of foods. The CEO and founder of Cocuus, Patxi Larumbe, expressed pride in attracting international investors and believes that this funding will help bring their technology to corporations that want to print proteins on an industrial scale.
In 2022, Cargill launched its “PlantEver” brand in Thailand, offering high-quality, healthy meat alternatives for families on the go. With a projected growth rate of 10% per year in the next 3-5 years, the plant-based food industry is expanding exponentially. PlantEver offers the taste, texture, and nutritional value that health-conscious consumers expect and comes in 100% recyclable packaging, addressing sustainability concerns.
Cargill is committed to long-term investment in the plant-based meat industry. The company recognizes that currently available plant-based meats do not fully satisfy consumers and is dedicating resources to innovate the category. While some executives at traditional meat companies believe that plant protein is a fad, Cargill sees this lack of interest as an opportunity to invest for the long term.
In addition to innovation and market growth, there are also considerations around food safety and meeting nutritional standards. Plant-based meat products may introduce new allergens or contaminants, and strict quality assurance and controls must be in place. 3D printing with plant-based materials can produce high-quality results in a short time, and companies like Cargill and Cocuus are actively working towards ensuring safety and meeting dietary concerns.
Overall, the development and adoption of 3D printed plant protein have the potential to revolutionize the food industry. Companies like Cargill and startups like Cocuus are at the forefront of this movement, combining technology, sustainability, and nutrition to provide innovative solutions for a growing global population.
Boost Your Company’s R&D Tax Credits with 3D Printing: Think Outside the Box!
In today’s fast-paced technological world, companies are constantly evolving and seeking innovative ways to stay competitive. One such innovation that has revolutionized the manufacturing industry is 3D printing. Not only does it offer incredible design possibilities, but it can also significantly boost a company’s R&D Tax Credits.
Many companies are unaware of the hidden potential that lies within their 3D printing endeavors. What they fail to realize is that wages for technical employees involved in creating, testing, and revising 3D printed prototypes can be included as a percentage of eligible time spent for the R&D Tax Credit. This means that the amount of time and effort put into perfecting these prototypes can be directly translated into tax credits, minimizing costs and maximizing returns.
Moreover, integration is the name of the game when it comes to improving processes. Companies that invest time in integrating 3D printing hardware and software into their existing workflows can count this as an eligible activity for the R&D Tax Credit. This means that the time and effort spent in seamlessly incorporating 3D printing technology can result in substantial tax benefits.
But that’s not all – modeling and preproduction also play a crucial role in the development process. The costs of filaments consumed during these stages can be recovered through R&D Tax Credits. Whether it’s creating prototypes or gearing up for final production, utilizing 3D printing technology is a clear indicator that R&D Credit eligible activities are taking place.
Take the example of Cargill, a company with a rich 158-year history and the largest privately held company in the US. What sets them apart? It’s the courage of their convictions and their willingness to embrace innovative technologies like 3D printing. By leveraging this technology to enhance their R&D activities, Cargill is not only pushing the boundaries of what’s possible but also reaping the benefits in the form of significant tax credits.
So, if your company is considering implementing 3D printing at any point in its operations, it’s imperative to consider taking advantage of R&D Tax Credits. By doing so, you not only gain a competitive edge but also unlock the hidden potential of this cutting-edge technology. Don’t let this opportunity slip through your fingers – boost your company’s R&D Tax Credits with 3D printing and write a success story of your own!
Remember, innovation knows no bounds, and by thinking outside the box, you can truly transform your company’s fortunes. Share this post with your colleagues and let them in on the secret to unlocking the full potential of 3D printing in the world of R&D Tax Credits.
