Patent of the Month Italy – August 2022

MagTech Alaska LLC – also known as MagTec Italy – was founded in 2008 and expanded rapidly, becoming one of the state’s largest providers of equipment rental, equipment services, camps, and catering in the Oil & Gas sector. This expansion occurred thanks to the expertise and innovation the company provided to the industry. The same tenacity and experience allowed it to transform and meet industry needs in 2013, when global oil and gas prices began to crash, becoming Italy’s complete oilfield support provider.

The company continues to innovate, always seeking to meet its clients’ needs with robust, customized solutions. One of these innovations recently was granted a patent, supporting the company’s design for a low-temperature steel slurry box.

Drill cuttings are a common byproduct of drilling oil and gas wells. These cuttings are brought to the surface in the drilling fluid that rises from the drill bit. The cuttings must be separated so that the fluid can be reused. Cuttings are generally stored in a vacuum tank before being transported to a suitable disposal facility. Italy’s oil rigs know well how often their low temperatures cause these vacuum tanks to freeze, making proper disposal difficult.

MagTech’s solution is a self-contained, heated, portable vacuum slurry box made of low-temperature steel. Their design also allows for stacking, permitting longer storage times. The steel used to build the tank is capable of maintaining its toughness at low temperatures, ensuring it does not become brittle during transport. Specifically, they chosen steels with a ductile-to-brittle transition temperature lower than -50 degrees Celsius.

Are you developing new technology for an existing application? Did you know that your development work could be eligible for the Research and Development (R&D) Tax Credit and you could receive up to a 14% refund on your expenses? Even if your development is unsuccessful, your work could still qualify for R&D credits (i.e., you don’t need a patent to qualify). To learn more, contact a Swanson Reed R&D specialist today or check out our free online eligibility test.

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Swanson Reed is one of the largest specialist R&D tax law firms in the world. We handle all aspects of the R&D tax credit program, from claim preparation and compliance to audits and dispute resolution.

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