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Magma Power LLC secures 11 global patents for its innovative magma-based green energy technology, poised to transform AI data centers, bitcoin mining, and more.
NEW YORK CITY, NY, UNITED STATES, September 12, 2024 /EINPresswire / -- Magma Power, LLC, a Tampa, FL-based green energy start-up , announces that it has secured 11 global patents for its first-of-its-kind energy
technology inventions. These patents cover Magma Power, LLC's inventions related to the production of Magma PowerTM-based green energy for AI data centers,
Bitcoin mining,
renewable baseload electricity generation, energy-intensive manufacturing, chemical production, and green fuels.
“We believe that Magma PowerTM is the inevitable future of global energy,” said Levi Conner, CEO of Magma Power LLC.“Our patented technology can produce reliable energy at a rate that no other renewable source can achieve. It's not a question of if Magma PowerTM will transform the world's energy landscape-it's a matter of when.”
Magma Power LLC's patented technology is poised to generate baseload renewable energy at a target rate of 1 cent per kWh, a market-pulling rate that is set to transform industries around the globe. By harnessing the power of magma reservoirs, Magma PowerTM provides a virtually unlimited source of renewable energy capable of meeting the world's energy needs for thousands of years.
Building on research from Sandia National Laboratories in the 1970s, which first demonstrated the potential of drilling into magma, Magma PowerTM has advanced this concept into a practical, commercially viable technology ready for global deployment.
Alongside its 11 secured patents, Magma Power LLC has filed 46 additional global patents, with over 1,000 pending claims covering all aspects of Magma PowerTM production.
Magma PowerTM: The Future of Green Energy
Magma Power TM is a game-changing green energy source that builds on research from U.S. government scientists at Sandia National Laboratories. Magma PowerTM utilizes the 1,200°C heat found in magma to generate constant, scalable renewable energy, providing a solution that operates 24/7, unlike intermittent wind or solar. This virtually limitless energy supply has the potential to drive global decarbonization and meet energy demands for thousands of years.
Unlike wind and solar, which require massive land areas and fluctuate based on environmental conditions, Magma PowerTM provides reliable, 24/7 baseload energy at a target cost of 1 cent per kWh. Other renewable sources like geothermal and fusion energy face major limitations, making magma power the most scalable and sustainable solution for the future of green energy.
Exclusive Licensing Opportunities
Magma Power LLC is actively offering exclusive licensing agreements for over 1,000 identified global sites where Magma PowerTM can be produced. With the company's patented methods and technologies, energy production costs could drop to under 1 cent per kWh, making it the most cost-effective and sustainable option for industries including AI data centers and green fuels for automobiles, aviation, and marine transportation.
“Our vision is to deliver baseload renewable power at under 1 cent per kWh, providing clean and affordable energy for users around the globe,” added KC Conner, Founder and Inventor of Magma Power LLC.
Licensing opportunities are available for individual sites for as low as $50,000 USD per month in the pre-production phase, with royalties starting as low as 12.5% of the revenue generated from power, green fuels, and other magma-derived products. For well-qualified partners, larger territory-based and multi-site licenses may also be available.
Potential R&D Tax Credits For Energy-Related Research
Certain U.S. taxpayers may also be eligible for Research & Development Tax Credits for fees paid to Magma Power, LLC per the terms of 26 U.S.C. § 41 for pre-production R&D-related activities.
The R&D Tax Credit (26 U.S.C. §41) is a federal benefit that provides companies dollar-for-dollar cash savings for performing and funding activities related to the development, design, or improvement of products, processes, formulas, or software.
Magma Power, LLC's development and design of revolutionary magma energy technology is exactly the kind of research that the credit was designed to support. The credit was enacted in 1981 in response to the 1979 oil crisis to stimulate innovation and encourage investment in various R&D sectors in the US, including energy-related research. Since then, many U.S. states have also passed the R&D Tax Credit.
Given that Magma PowerTM could fundamentally transform the US economy with terawatts of virtually unlimited low-cost baseload renewable energy and significantly increase US living standards, Magma Power LLC's R&D activities are precisely the kind of private research that the tax credit was intended to encourage. Every day the growth of electric vehicles and AI data centers puts more strain on the US power grid, and magma power is the baseload renewable-energy solution.
Partnerships with innovative companies like Magma Power LLC could potentially qualify for R&D tax credits, subject to meeting all IRS requirements and verification during an audit. As always, we strongly recommend consulting with a qualified tax professional to understand how these rules apply to your specific situation.
Why Magma Power?
Beneath the Earth's surface lies 11,000 miles of continuously circulating magma at temperatures exceeding 1,200°C. This geothermal resource holds the potential to generate terawatts of power from relatively shallow drilling depths. The energy capacity of the Earth's magma far surpasses that of all fossil fuel reserves combined. As Magma Power LLC's technology evolves, this resource can produce energy outputs that will reshape the global energy market.
“We're entering a new era of renewable energy innovation,” said Richard McDonald, Chief Strategy Officer of Magma Power LLC.“With Magma PowerTM, we're not just creating a new energy source-we're creating a global energy revolution. Our ability to provide consistent and low-cost baseload power will transform industries and enable regions that have struggled with energy access to leap forward into the clean energy future.”
Why This Opportunity Will Be Gone Shortly
Magma Power LLC plans to license all 1,000+ available global sites within the next 6 to 12 months. Once these exclusive licenses are secured, opportunities to access this transformative green energy will no longer be available.
Furthermore, any R&D Tax Credits that their partners may be eligible for under 26 U.S.C. § 41 are only permitted during the research and experimentation phase of the development of Magma Power, LLC's technology. Once Magma Power LLC's technology is no longer experimental, and improvements in the function, performance, and reliability of Magma PowerTM and related production technology are no longer being made, then the Tax Credits will no longer be available.
So to make Magma PowerTM a part of the business, and want to do so with up to a 100% tax refund for all pre-production research and development, now is the time to act.
Furthermore, the R&D Tax Credits allowed under 26 U.S.C. § 41 are only permitted to be applied as refunds to a taxpayer's previous tax year. Tax Credits can be applied prospectively for up to 20 years, but refunds on taxes already paid can only be claimed for the prior tax year. Therefore, people may lose their ability to claim any benefits for R&D activities against their prior year's tax payments if they delay.
For more information on licensing opportunities and how to become part of this energy revolution, please contact:
Richard McDonald
Chief Strategy Officer
Magma Power LLC
...
**Disclaimer:** The information provided in this press release is for general informational purposes only and does not constitute tax, investment, or financial advice. Magma Power LLC does not guarantee any specific outcomes, including but not limited to energy production rates, cost savings, or tax benefits. The technology described is still in development and its commercial viability has not been fully established. The application of the R&D Tax Credit is complex and depends on each company's unique situation. Always consult with qualified tax, legal, and financial professionals before making any decisions related to tax credits, investments, or financial strategies. Magma Power LLC is not responsible for any actions taken based on the information provided herein. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities. Any statements herein are not guarantees of future performance and involve risks, uncertainties, and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted.
Richard McDonald, Chief Strategy Officer
Magma Power LLC
email us here
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