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BETHLEHEM, Pa.--(EON: Enhanced Online News)--Ben Franklin Technology Partners of Northeastern Pennsylvania announces investments in technology-based early-stage firms and established manufacturers to promote regional economic development.
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BETHLEHEM, Pa.--(EON: Enhanced Online News)--Ben Franklin Technology Partners of Northeastern Pennsylvania announces investments in technology-based early-stage firms and established manufacturers to promote regional economic development. img border='0' title='Add to Google' alt='Add to
Ben Franklin to Invest $480,300 in PA Technology Companies September 15, 2010 09:23 AM Eastern Daylight Time BETHLEHEM, Pa.--(EON: Enhanced Online News)--The Ben Franklin Technology Partners of Northeastern Pennsylvania (BFTP/NEP) approved the investment of $480,300in regional companies. BFTP/NEP is an award- winning, state-funded economic development organization that links early-stage technology firms and established companies with experts, universities, funding, and other resources to help them prosper through innovation. Since beginning operation, BFTP/NEP has helped to create 14,301 new jobs and retain 21,236 existing jobs, to start 408 new companies, and to develop 948 new products and processes. The Pennsylvania Ben Franklin program returns $3.50 to the state for every $1.00 invested. BFTP/NEP announces early-stage company investments: Advanced-Tec Materials, LLC, West Hazleton -- $100,000 Conduct materials testing to optimize the characteristics of formulations and finalize production equipment requirements. Advanced-Tec produces environmentally sound industrial materials, including insulation and fireproofing materials, using proprietary formulations of recycled coal-combustion fly-ash. These materials exhibit fire- and heat-resistant characteristics that create extremely versatile composites that require no heat curing. CEWA Technologies, Bethlehem -- $146,000 Complete design, construct, and test a prototype of a new kind of point-concentrated solar power dish that will deliver power at a lower cost due its novel design and the materials used in its construction. The dish, a toroid solar collector, will be fabricated, assembled, and tested at Northampton Community College’s campus. The dish is capable of providing thermal power for HVAC, power generation, desalination, and process heat applications at a cost comparable to fossil fuel-based sources of energy. Gleason Custom Kitchens, Inc., Moosic -- $100,000 Implement operational efficiencies and market development activities at this manufacturer of custom-built and standard cabinetry for residential and commercial applications. This will allow the company to respond to increased sales volume and expand its presence in additional markets. HealthOneMed, Inc., Allentown -- $50,000 Complete an integrated marketing and action plan to commercialize HealthOneMed's first product, the Dispense-a- Pill (DAP). This patented device dispenses pills according to a programmed schedule. The DAP combines the features of disparate medication devices including pill boxes, dispensers, and medication alert devices into an integrated intelligent medication management system. Features include audible notification to the individual that it is time to take pills, automatic pill dispensing, and telephone notification to family members/caregivers when pills are not taken. HealthOneMed's DAP addresses the growing issue of accidental medication non-compliance. SolarPA, New Tripoli -- $50,000 Complete proof-of-concept research for a new, proprietary coating that enhances photovoltaic effects and improves the efficiency of solar cells. SolarPA’s single-layer anti-reflection coating improves optical absorption, thermal transport and emission, light concentration, manipulation, emissivity, reflectivity, and scattering, thereby maximizing the solar energy available for conversion into electricity. This results in increases in solar module efficiency up to 10% and reduced manufacturing costs by up to 10% versus current silicon-based technology. The reduced manufacturing costs translate to reduced prices to the consumer, thereby enabling broader market adoption of solar energy. BFTP/NEP announces established manufacturer company investments: B. Braun Medical, Inc., Allentown -- $10,000 Partner: Lehigh University’s Enterprise Systems Center Capture how manufacturing parameters affect the end use of products at this manufacturer of medical devices that distributes worldwide. Using this information, B. Braun will develop a maintenance and operational training process at the local facility to improve critical job function knowledge. Heightened awareness of customer requirements and cognizance of quality at the operator and technician level improves quality and reduces waste. Keystone Potato Products, Hegins -- $12,500 Partner: Northampton Community College’s Emerging Technologies Applications Center Conduct a feasibility study to establish the technical and economic viability of a wind energy plant at the Keystone manufacturing site. Keystone produces dehydrated potato flakes and dehydrated potato flour, as well as fresh cut potatoes. The firm currently fuels the plant’s extensive thermal requirements using nearby landfilled gas. L&H Sign Company, Reading -- $11,800 Partner: Northampton Community College’s Emerging Technologies Applications Center Assess the technical and economic feasibility of a proposed rooftop photovoltaic array to address the energy needs of this producer of commercial signage and merchandising systems. Also evaluate an existing coating, drying, and curing operation to identify additional energy-saving measures while increasing product throughput. Contacts BFTP/NEP Laura S. Eppler Director of Marketing 610-758-5237 firstname.lastname@example.org Permalink: http://eon.businesswire.com/news/eon/20100915005270/en/Ben-Franklin/technology-economic- development/venture-capital
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