Ben Franklin to Invest $354,876 in Regional Economic Development

BETHLEHEM, PA--(Marketwire - Jan 10, 2013) - The Ben Franklin Technology Partners of Northeastern Pennsylvania (BFTP/NEP) board approved the investment of $354,876 in regional companies. BFTP/NEP is an award-winning, state-funded economic development organization that links early-stage technology firms and established manufacturers with experts, universities, funding, and other resources to help them prosper through innovation. BFTP is an initiative of the Pennsylvania Department of Community and Economic Development and is funded by the Ben Franklin Technology Development Authority.

Since beginning operation, BFTP/NEP has helped to create 15,479 new jobs and retain 21,459 existing jobs, to start 429 new companies, and to develop 1,127 new products and processes. Ben Franklin has returned $3.50 to Pennsylvania for every $1.00 invested in the program. 

BFTP/NEP will invest in early-stage technology firms through loans:

Bio-Energy Holdings, Inc., Center Valley - $50,000
Continue commercializing the patented A-Ceptor, a unit that separates oils and grease from "gray" restaurant sink effluent before it goes into underground traps or wastewater treatment systems. Trap buildup can cause odor, bacteria, and drain back-ups inside the restaurant, and sewer blockages and discharge issues outside. The end-product from the A-Ceptor is recycled for bio-diesel energy production.

HB Custom Media, Inc., Bangor - $75,000
Establish HB Custom Media's production facility and begin commercializing custom tissue culture media, reagents, cell culture supplements, and mouse embryo culture media to the Research-Use-Only market. These products are essential for life sciences companies in various applications, including drug development, cancer research, nerve cell regeneration investigation, and treatments for heart attacks. 

Virtual Celebration, Bethlehem - $65,000
Support the development of a "back-end" transaction automation system and analytics for growing a network of Virtual Event Planners. Virtual Celebrations, LLC is a proprietary virtual platform in which hosts and guests privately gather to connect, play, share, give, and gift with provided celebration tools and content. This on-line celebration can either supplement a live celebration or stand alone, and can be used by individuals or small businesses. Online, more guests are able to participate, and, as a result, create an enduring virtual scrapbook and experience that can be enjoyed by all. With the Ben Franklin investment, Virtual Celebration will be able to utilize online tools to recruit and train 1,000 event planners.

Vitrius Technologies, LLC, Wilkes-Barre - $120,000
Develop and commercialize new window products that combine three proprietary new innovations specific to materials and glazing. These metal-clad composite windows actually produce heat and power as well as greatly increase energy efficiency. Vitrius' products are more economical and long-lasting and provide a superior renewable energy profile to the architectural and industrial window market when compared with existing competitors.

Ben Franklin will invest in the following established manufacturer companies in 1:1 matching grants.

Bosch Rexroth Corporation, Bethlehem - $25,000
With Lehigh University, complete manufacturing process analysis in order to increase the capacity of the hydraulic cylinder manufacturing system. The Enterprise Systems Center team will analyze and evaluate current work processes, then utilize simulations to test alternative system configurations and scheduling methods. Bosch Rexroth manufactures motion control equipment, including hydraulic and pneumatic components.

Demco Automation, Quakertown - $19,876
With Lehigh University, implement a new Enterprise Resource Planning System for this developer and manufacturer of custom automation equipment and controls. These improvements will help Demco to realize a 70% increase in sales by 2014. With the continued expansion of mass customization, short product life cycles, and short-term ROI strategies in industry, Demco's patented modular, flexible, and reconfigurable automation platforms meet the demands of today's manufacturing environment. Demco's platforms are used for assembling and packaging small parts, serving clients worldwide including the medical device and pharmeceutical markets.