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Ben Franklin to Invest $393,146 In Regional Economic Development.

BETHLEHEM, Pa. -- 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.
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Publication:Business Wire
Date:May 6, 2010
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