Ben Franklin to Invest $393,146 In Regional
May 06, 2010 01:49 PM Eastern Daylight Time
BETHLEHEM, Pa.--(EON: Enhanced Online News)--The Ben Franklin Technology Partners of Northeastern
Pennsylvania’s (BFTP/NEP) Board of Directors approved the investment of $393,146in 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;
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