Since beginning operation, BFTP/NEP has helped to create 14,301 new jobs for Pennsylvania workers and retain 21,236 existing jobs, to start 408 new companies, and to develop 948 new products and processes.
BETHLEHEM, Pa.--(BUSINESS WIRE)--The Ben Franklin Technology Partners of Northeastern Pennsylvania’s (BFTP/NEP) Board of Directors approved the investment of $393,146 in support of regional economic development. 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 for Pennsylvania workers and retain 21,236 existing jobs, to start 408 new companies, and to develop 948 new products and processes.
BFTP/NEP announces the following early-stage company investments:
Advanced-Tec
Materials Corporation, West Hazleton -- $40,000
Finalize
product formulation and production equipment requirements for a new
insulation and fireproofing material. Advanced-Tec produces industrial
materials based on proprietary formulations utilizing recycled
coal-combustion fly-ash. These environmentally sound products achieve
superior performance compared to competitive materials.
Electrikus Incorporated, Bethlehem -- $38,000
Commercialize
the company’s initial product, the Illumaguard. The Illumaguard is a
patent-pending, technologically innovative, and energy-smart battery
back-up for residential lighting in the event of a power outage. The
product is inconspicuous and intelligent in the way it discharges and
recharges, and will allow a household lamp to light automatically at the
onset of a power outage. It operates for 10 hours on a full charge.
Element
ID, Inc., Bethlehem -- $50,000
Support the initial
sales and ramp-up of a new type of radio frequency identification (RFID)
tag reader for use in the materials handling environment. Unlike
competitors’ systems, Element ID’s systems provide better read rates;
seamless interaction with other automation equipment; intelligent,
multi-reader systems designed to work over conveyors; and readers that
are not sensitive to interference and can withstand harsh industrial
environments.
eVendor
Check, Inc., Hawley -- $100,000
Further enhance the current
software for the company’s web-based reference checking system for
procurement professionals. eVendor Check’s clients reduce risks
associated with vendor selection by using proprietary web-based tools
and a supporting database, rather than the conventional, less-effective
telephone-based method of vendor investigation. The software
improvements will allow the company to roll out its services on a
broad-scale, high-volume basis.
Future
Power of PA, Inc., Moosic -- $74,000
With help from
Wilkes University, analyze geological formations in the region to
determine if they are a viable location for carbon dioxide
sequestration. The new 270 megawatt integrated gasification combined
cycle power plant being proposed for Good Spring, PA, has the ability to
capture its carbon dioxide by-product. This study will assist in
sequestration efforts.
BFTP/NEP announces the following established manufacturer company investments.
Dynalene,
Inc., Whitehall -- $41,146
With help from Lehigh
University, develop a new heat-transfer fluid, based on molten salt
chemistry, for concentrated solar power plants. Fluids currently used in
the solar industry are thermally unstable at temperatures above 390
degrees centigrade, which reduces overall plant efficiency.
Ward
Manufacturing, Blossburg -- $50,000
With help from
Penn State, reduce energy costs and environmental impact at this
manufacturer of cast iron pipe and fittings by replacing cupola coke
with collagen-binded anthracite fines as fuel. Also reduce consumption
of sand, clay, and coal by implementing a new reclamation system.
