Max Shapiro and Candice Long were recently guest contributors on behalf of Matrix Capital Markets Group, Inc. to the November/December 2025 Sigma column “Innovation in Fuel Distribution.”

The article explains why companies in the fuel distribution and convenience retail sectors should consider the R&D Tax Credit—a federal incentive that can significantly reduce tax liability for investments in innovation. The article argues that fuel distributors often engage in qualifying R&D activities even if they don’t have traditional labs, because modernizing distribution systems, improving automation, developing new fuel blends, enhancing environmental and safety compliance technologies, and building custom data systems all involve technical experimentation. It outlines examples of such activities, how the credit is calculated, common misconceptions that lead firms to overlook it, and recent tax rule changes that make the credit more attractive. The piece concludes that recognizing and claiming this credit can free up capital for further innovation in the evolving energy landscape.

Read the full article here.

January 12, 2026