Ben Franklin to Invest $457,400 in Early-Stage Companies
DATELINE: LEHIGH VALLEY, Pa.
The Ben Franklin Technology Partners of Northeastern Pennsylvania (BFTP/NEP) board approved investments of $457,400 in six Pennsylvania companies. BFTP/NEP is a state-funded economic development organization that links early-stage companies and established manufacturers with experts, universities, funding, and other resources to help them prosper through innovation.
BFTP/NEP plans to invest in the following companies:
Boyer Machine, Inc., Northumberland
Investment: $50,000
Complete product development of automated machines for packaging purposes in food-related industries. The initial packaging technology will minimize human contact with clean trays for displaying food products.
Dietrich's Specialty Processing, LLC, Reading
Investment: $150,000
Support the development and commercialization of a custom spray drying operation for the production of food ingredients. Spray-dried ingredients help food and beverage companies manufacture products more efficiently and cost-effectively. Increases in demand for beverages, confections, nutritional products, and other food items require spray dried ingredients that provide improved functionality, improved nutrition, and more appealing flavors.
EcoTech NanoSystems, Inc., Bethlehem
Investment: $28,600
Begin development of a product line to inhibit the growth of nuisance organisms on surfaces. In humid environments, the growth of algae and mold is both unsightly and dangerous to humans. This is a problem for industry, homeowners, and aquarium owners. The coating product will inhibit the growth of algae and mold on almost any surface.
Edward Michael Enterprises, LLC, Beaver Springs
Investment: $50,000
Commercialize E-SEAM, a new construction product with application in the modular / manufactured HUD housing industry. This NTA-tested and approved joining system for ceilings minimizes ridging and shadowing and provides a flatter and more even joint. It uses less joint compound and has a faster dry time, reducing material and labor costs and service calls.
Spectrum Diving Equipment, Inc., Shamokin
Investment: $28,800
Complete design for manufacturability and begin production of two new "wreck" reels for the diving industry. The wreck reel products, one automatic and one manual, will be used by scuba, wreck, cave, and technical divers. These reels are technologically superior to competitors because they control tensioning and avoid tangles, and the automatic reel is the first to allow hands-free diving.
Surface Chemistry Discoveries, Bethlehem
Investment: $150,000
Develop novel low-cost and disruptive surface preparation and cleaning chemistries for the global semiconductor fabrication industry. The main target markets are integrated circuits and liquid crystal display fabrication plants. These chemistries will also address some present and future needs of various nanotechnology industries.