BETHLEHEM, Pa., Oct. 27, 2020 (GLOBE NEWSWIRE) — The Ben Franklin Technology Partners of Northeastern Pennsylvania’s (BFTP/NEP) Board of Administrators has authorised the funding of $407,130 in help of regional financial growth. 9 firms in BFTP/NEP’s 21-county service space acquired funding. BFTP/NEP publicizes the next early-stage firm investments, that are offered within the type of loans with warrants.
Hanish Water, Inc., https://www.hanishwater.com/, Hazleton, Luzerne County
Ben Franklin Funding: $100,000
Develop Hanish’s Watercrest water filtration system by supporting drawings, prototypes, testing, and patenting proprietary supplies and approaches. Utilizing NASA-derived know-how, the WaterCrest whole-house bodily water therapy techniques present complete water filtration utilizing no salt, no electrical energy, no shifting components, requiring no back-washing, and losing no water. There’s a rising world marketplace for efficient and environment friendly water therapy attributable to industrialization and inhabitants development.
IntelliGreen, https://intelligreen.net/, West Hazleton, Luzerne County
Ben Franklin Funding: $50,000
Develop gross sales and advertising and marketing efforts for a Software program-as-a-Service (SaaS) platform to work in tandem with IntelliGreen’s merchandise, which have been developed in response to the COVID-19 pandemic. The Intelli-Temp units can detect and establish an individual’s face, together with for a person carrying a masks; direct an individual to placed on a masks as a requirement to entry; detect a reference temperature inside 0.5 levels accuracy; and supply alerting for fever circumstances; all inside one second. The Intelli-Temp MAX includes a 22’’ display screen that allows a show of user-generated content material. The funding will permit IntelliGreen to leverage its relationships with 4 distribution companions and launch the SaaS product and gate-monitoring resolution.
NexUS 1, LLC, https://www.nexii.com/, Hazleton, Luzerne County
Ben Franklin Funding: $100,000
Assist advertising and marketing and human useful resource growth to leverage state-of-the-art Inexperienced constructing know-how and patented supplies within the development of recent buildings and retrofit industries. Nexii’s whole-building resolution makes use of a patented materials, Nexiite, and the proprietary Nexii design and meeting course of, which collectively allow the development of sustainable, costefficient, sturdy, and disaster-resilient buildings. Nexii supplies can be utilized for buildings of all heights and sizes, and are appropriate for industrial/institutional/industrial, mixed-use, multi-family residential, and single-family indifferent houses, in addition to for retrofitting current buildings. The NexUS facility would be the first Nexii-certified producer of the system within the U.S., serving the northeast and mid-Atlantic states, and can make use of 176 Pennsylvanians.
Raven Biomaterials, LLC, Ben Franklin TechVentures, Bethlehem, Northampton County
Ben Franklin Funding: $50,000
Develop and check preliminary samples of a basically new sort of magnetic beads with considerably greater magnetic functionality. Raven’s proprietary beads will change the best way producers of mobile therapeutics isolate focused cells inside advanced mixtures comparable to blood. The corporate’s preliminary goal utility is to enhance cell-based therapeutic manufacturing to boost efficiency, cut back prices, and speed up affected person entry to rising therapies comparable to cell and gene remedy.
Ben Franklin offers 1:1 matching funding for work with a university or college companion on technology-based innovation in established producers.
Brenntag Northeast, Inc., https://www.brenntag.com/en-us/about/locations-entities/brenntag-northeast/, Studying, Berks County
Ben Franklin Funding: $15,000
College Accomplice: Lehigh College’s Enterprise Programs Heart
Enhance warehouse and working efficiencies on the Studying plant. Brenntag Northeast is a chemical distributor that gives custom-made distribution options for industrial and specialty chemical substances. The corporate delivers particular utility know-how, intensive technical help, and value-added companies together with just-in-time supply, product mixing, formulation, repackaging, stock administration, and drum return dealing with. With greater than 10,000 merchandise and a complete provider community, Brenntag serves 195,000 prospects globally.
Oldcastle APG Anchor Central, http://www.oldcastleapg.com/, Easton, Northampton County
Ben Franklin Funding: $15,000
College Accomplice: Lehigh College’s Enterprise Programs Heart
Enhance order success processes, optimize throughput, and improve facility structure to extend competitiveness at this producer of precast pavers, bricks, and concrete. Oldcastle’s merchandise are utilized in a broad vary of economic and residential functions.
To assist firms speed up the restoration from the financial disaster attributable to the COVID-19 pandemic, the Pennsylvania Department of Community and Economic Development (DCED) offered a $1 million disbursement in Could that was matched by Ben Franklin. BFTP/NEP’s Return to Well being funding program has included emergency regional investments in 19 start-ups and 19 established producers. The three investments under will full Ben Franklin’s Return to Well being funding.
Rebuilding Northeastern PA Producers Investments permit BFTP/NEP’s current established producer purchasers with 250 or fewer workers to develop and implement plans for restoration. Many of those manufacturing corporations have been partway by way of the event of revolutionary manufacturing and course of enhancements, and failing to finish them would hinder their restoration and development. These purchasers will facilitate job retention and creation.
Ben Franklin publicizes the next Rebuilding Northeastern Pennsylvania Producers Investments in two firms, that are offered as matching funding.
B. Braun Medical, Inc., www.bbraunusa.com, Allentown, Lehigh County
Ben Franklin Funding: $25,000
College Accomplice: Lehigh College’s Enterprise Programs Heart
Analyze, check, and develop intravenous (IV) tubing supplies and manufacturing processes that can present a constant product with the specified properties for longer IV tubing. Further size is required to separate sufferers with infectious ailments together with COVID-19 from caregivers who monitor the IV pumps and fluids.
Reitnouer, Inc., https://reitnouer-trailers.com/, Birdsboro, Berks County
Ben Franklin Funding: $15,000
Modify operations to enhance manufacturing stream and operational efficiencies following decreased gross sales attributable to COVID-19. Reitnouer is a number one producer of aluminum flatbed and drop deck trailers. The corporate makes use of an revolutionary method in constructing the constructions that improves product energy and sturdiness. Previous to the pandemic, gross sales have been rising, however the transportation trade has been strongly affected. The funding will enhance the corporate’s productiveness and place it for restoration and development.
Additionally a part of BFTP/NEP’s Return to Well being Funding, Next-Era Pandemic Protection Investments help new Ben Franklin purchasers which can be creating instruments and strategies that might assist us get well from COVID-19 and/or defend us from future infectious illness outbreaks. BFTP/NEP invested in a single early-stage agency with a three-year, 0% curiosity mortgage.
ParoAI Inc., http://heyparo.com/, Ben Franklin TechVentures, Bethlehem, Northampton County
Ben Franklin Funding: $37,130
Proceed to construct Paro’s current conversational synthetic intelligence (AI) healthcare platform by growing Paro Rapport, which is able to present healthcare suppliers, sufferers, healthcare producers, and well being networks a simple-to-use methodology for asynchronous communication through voice know-how. This can tackle an unmet communication system want that may be leveraged through the COVID-19 pandemic and in future public well being crises that restrict in-person interactions.
Concerning the Ben Franklin Know-how Companions of Northeastern Pennsylvania
The Ben Franklin Technology Partners of Northeastern Pennsylvania (BFTP/NEP) creates and retains extremely paid, sustainable jobs by investing in and linking firms with specialists, universities, follow-on funding, and different assets to assist them prosper by way of innovation. It’s a part of a four-center financial growth initiative of the Pennsylvania Department of Community and Economic Development and is funded by the Ben Franklin Know-how Growth Authority.
BFTP/NEP’s technique encompasses three key areas:
- growing and rising early-stage technology-oriented firms;
- supporting established producers as they creatively apply new know-how to assist them succeed globally by producing higher, sooner, and at a decrease price;
- selling an revolutionary community-wide infrastructure that helps Pennsylvania’s enterprise know-how ecosystem.
Since starting operations in 1983, BFTP/NEP has helped to create 19,257 new jobs for Pennsylvania staff and to retain 43,880 current jobs, to start out 525 new firms, and to develop 2,113 new merchandise and processes. Since 2007, BFTP/NEP purchasers have generated greater than $1.6 billion in follow-on funding. The Pennsylvania Ben Franklin Technology Partners network has returned $3.90 to the state treasury for each $1.00 invested in this system.
BFTP/NEP owns, manages, and is headquartered in Ben Franklin TechVentures®, an award-winning enterprise incubator/post-incubator facility on Lehigh College’s campus in Bethlehem. BFTP/NEP additionally owns and manages the Bloomsburg Regional Technology Center. Making use of greater than 35 years of expertise and two worldwide awards for excellence in enterprise incubation, BFTP/NEP leads a 13-member enterprise incubator community that’s among the many largest within the nation.
Laura S. Eppler
Chief Advertising Officer
Ben Franklin Know-how Companions of Northeastern Pennsylvania
Cell 610.417.5261
leppler@nep.benfranklin.org
