Ben Franklin to Invest $833,963 in Six Companies
BFTP/NEP is a state-funded economic development organization that links early-stage companies and established manufacturers with experts, universities, funding, and other resources to help them prosper through innovation.
BFTP/NEP will invest in the following early-stage technology companies:
American Aerogel Corporation, Scranton Investment: $150,000 Project: Complete development of high-output production processes for the manufacture of Aeroblack(R) aerogel insulation products. These patented nanotechnology-based foams are porous, lightweight, and high in thermal and acoustic insulation values. One application of the product is in packaging as a thermal insulator for containers used by the biomedical industry. Aroma Works Software, Inc., Edwardsville Investment: $137,000 Project: Aroma Works manufactures, markets, and distributes a luxury line of spa-quality bath and beauty care products, as well as produces patent-pending software for easy customization of the products. By combining top quality products with point of sale enhancement options that allow the products to be tailored to each individual consumer, the company has signed several premier accounts. This Ben Franklin investment will allow Aroma Works to identify and implement process improvements throughout the manufacturing operations, as well as review and revise market channel strategies for the company product lines. Chaperone Technologies, Scranton Investment: $146,963 Project: Chaperone Technologies develops novel products based on DnaK Inhibition to target difficult-to-treat and drug-resistant bacterial pathogens across a broad range of infectious diseases. This investment will allow Chaperone to develop and expand the company's proprietary antimicrobial technology, including the development of its DnaK Inhibitors in synergy with other antimicrobials. Current applications include complicated urinary tract infections, respiratory infections, and Category A biowarfare pathogens. hField Technologies, Inc., Bethlehem Investment: $150,000 Project: Begin commercializing the "Wi-Fire," a new, patent-pending wireless adapter for personal computers and laptops. The adapter can expand the range of a wi-fi signal by a factor of three, to 1,000 feet, with no degradation of signal strength. INaBILLION, Inc., Bethlehem Investment: $150,000 Project: Complete development of a proprietary heat transfer sensor that can be manufactured in volume at low cost for commercial applications in U.S. and European markets. INaBILLION will work with Lehigh University to optimize the production process. Laydee Lorayne, Inc., Selinsgrove Investment: $100,000 Project: Laydee Lorayne manufactures post-operative and support compression garments. Products are used in hospitals, primarily by cardiac units, oncology departments, and among patients recovering from cosmetic and weight loss surgeries. The Ben Franklin investment will allow the company to facilitate continued growth in the manufacturing operations of high-quality and reasonably priced garments for these growing markets.