Follow on Google News News By Tag Industry News News By Place Country(s) Industry News
Follow on Google News | Ben Franklin to Invest $136,000 in Regional Economic DevelopmentBy: Ben Franklin Technology Partners of NEPA 1. developing and growing early-stage technology-based companies, 2. helping established manufacturers creatively apply new technology and business practices to achieve industry leadership, and 3. promoting an innovative community-wide infrastructure that fosters a favorable business environment for high-growth companies. Since beginning operation, BFTP/NEP has helped to create 16,986 new jobs for Pennsylvania workers and to retain 23,761 existing jobs, to start 482 new companies, and to develop 1,433 new products and processes. BFTP/NEP clients have generated $1.424 billion in follow-on funding since 2007. The Pennsylvania Ben Franklin Technology Partners network (http://benfranklin.org/ BFTP/NEP owns and manages Ben Franklin TechVentures (http://nep.benfranklin.org/ Ben Franklin announces the following early-stage company investments that are provided in the form of loans with warrants. eCO2Dye, LLC (http://www.eco2dye.com/) Ben Franklin Investment: $26,000 Commercialize a new process for the waterless dyeing of fabrics, threads, and yarns for B-to-B sales to clothing manufacturers and textile companies. Current practices utilize large amounts of energy and water. With the developing worldwide water shortage, the industry is actively seeking methods to significantly lessen its water usage. Using supercritical carbon dioxide (scCO2) in a proprietary way, the new process eliminates water use as well as substantially reduces energy consumption, drying time, amount of dye used, and waste. Indoor Sky, LLC (http://www.indoor- Ben Franklin Investment: $35,000 Create and execute sales/marketing strategies and goals as well as develop a financial model for this manufacturer of innovative interior shading for windows and skylights. Indoor Sky's Dayliter Shading System increases the amount of diffused sunlight in a room while still blocking the glare and harmful effects of direct sunlight. Effective management of usable daylight improves patient outcomes, worker productivity, student focus, and the attendance and moods of indoor inhabitants, as well as substantially reduces energy consumption in buildings. Ben Franklin announces the following established manufacturer company investments. Ben Franklin provides 1:1 matching funding for work with a college or university partner on technology-based manufacturing innovation in established manufacturers. Bazzini LLC (http://bazzininuts.com/) University Partner: Lehigh University's Enterprise Systems Center Ben Franklin Investment: $25,000 Streamline the nut production line, reduce waste, and increase productivity at this producer of nuts, dried fruits and confections. Identify further cost saving opportunities and process improvements in the manufacturing facility that will allow the company to compete more effectively and support the company's continued growth. Brentwood Industries, Inc. (http://www.brentwoodindustries.com/) University Partner: Lehigh University's Enterprise Systems Center Ben Franklin Investment: $25,000 Complete manufacturing process improvements in scheduling, capacity, and plant layout as well as efficiency and yield in order to support Brentwood's new contract in the transportation industry. Brentwood produces custom thermoformed plastic solutions for a wide variety of consumer, manufacturing, and environmental applications. Penn-Troy Manufacturing, Inc (http://www.penntroy.com/) College Partner: Pennsylvania College of Technology Ben Franklin Investment: $25,000 Complete work to earn two key certifications for Penn-Troy's mud valves and a certification for its new pressure relief valve. Penn-Troy manufactures wastewater treatment valves and crankcase explosion relief valves for the water processing and large engine industries. These credentials endorse the products' safety and will allow the company to increase sales and compete more effectively internationally. End
Account Email Address Account Phone Number Disclaimer Report Abuse
|
|