Ben Franklin Technology Partners of Northeastern Pennsylvania’s (Ben Franklin Northeast) Board of Directors has approved the investment of $925,000 in support of regional economic development. 11 companies, including five technology startups and six established manufacturers, received funding.
Ben Franklin Northeast announces $350,000 in early-stage company investments.
CatapalloVR Reading, Berks County Ben Franklin Northeast Investment: $100,000
CataPallo VR produces interactive virtual reality (VR) modules for neurodivergent audiences; content is focused on teaching autistic individuals the skills to be able to live more independently. The investment supports intellectual property (IP) protection, user experience trials, expansion of content library, and implementation of a marketing plan and sales strategy
Steel Jupiter Ben Franklin TechVentures, Northampton County Ben Franklin Northeast Investment: $100,000
Steel Jupiter protects air quality and the environment by commercializing technologies that significantly increase the performance of air filters and masks in trapping and immobilizing viruses. The investment supports manufacturing optimization of Zinnia filter coatings.
Ophidion Ben Franklin TechVentures, Northampton County Ben Franklin Northeast Investment: $150,000
Ophidion is a biopharmaceutical company leveraging its proprietary carrier technology to non-invasively deliver disease-modifying and symptomatic therapeutics directly to the brain across the blood-brain barrier (BBB) following intravenous administration. Their primary focus is the development and delivery of gene-silencing short interfering ribonucleic acids (siRNAs) and antisense oligonucleotides (ASOs) to the brain to treat Huntington’s disease and other neurodegenerative diseases. The investment supports research and development of pre-clinical studies.
Ben Franklin Northeast announces $450,000 in early-stage company investments as part of the State Small Business Credit Initiative (SSBCI). These projects were financed [in part] from Pennsylvania Small Business Credit Initiative funds from the Commonwealth of Pennsylvania, Department of Community and Economic Development.
Grovara, Philadelphia, Philadelphia County Ben Franklin Northeast Investment: $250,000
Grovara provides an online platform that allows U.S. food and beverage manufacturers to easily market and sell their products to retailers and distributors internationally. The investment supports market growth and product development needs. Grovara was previously located in Ben Franklin Northeast’s business incubator, TechVentures, and is now based in Philadelphia.
Saladax Biomedical Ben Franklin TechVentures, Northampton County Ben Franklin Northeast Investment: $200,000
Saladax develops and manufactures test kits for chemotherapy and anti-psychotic indication areas that measure the levels of therapeutic drugs in patients to optimize effects without triggering negative side effects. The tests are meant to help physicians better understand individual patient drug compliance and metabolism to help reduce toxicity and optimize therapeutic effect. The investment supports the regulatory approval and commercialization roll out of assays for the anti-psychotic drug market.
Ben Franklin Northeast announces $125,000 in investments in established manufacturers, which is provided in 1:1 matching funding for work with a college or university partner.
Reitnouer Birdsboro, Berks County Ben Franklin Northeast Investment: $10,000
Reitnouer is a high-precision metal fabricator that specializes in industrial components for the truck/transportation, aerospace, and marine industries. The investment supports the implementation of an Enterprise Resource Planning (ERP) system. Reitnouer will partner with Enterprise Systems Partners (ESPI) and Alvernia University on this project.
Silberline Manufacturing Company Tamaqua, Schuylkill County Ben Franklin Northeast Investment: $25,000
Silberline Manufacturing Company produces aluminum effect pigments that are used in a wide variety of applications, from automotive paints and printing inks to plastics, protective coatings, and consumer packaged goods. The investment supports an assessment of the core production operation to improve efficiency. Silberline will partner with Enterprise Systems Partners (ESPI) and Alvernia University on this project.
Human Active Technology Easton, Northampton County Ben Franklin Northeast Investment: $25,000
Human Active Technology manufactures and sells ergonomically designed office furniture. The investment supports upgrading their Enterprise Resource Planning (ERP) system to improve information flow and reporting. Human Active Technology will partner with Enterprise Systems Partners (ESPI) and Lehigh University’s Center for Supply Chain Research.
Krevitz Industrial Scrap Solutions Quakertown, Bucks County Ben Franklin Northeast Investment: $25,000
Krevitz Industrial Scrap Solutions provides industrial waste management and scrap metal solutions to Pennsylvania, Delaware, Maryland, New York, and New Jersey. Unlike many scrap metal and recycling firms, Krevitz only serves industrial clients. The investment supports research and development for waste coolant disposal. Krevitz Industrial Scrap Solutions will partner with Lehigh University’s Enterprise Systems Center on this project and will utilize students from both Lehigh University and Kutztown University.
PowerRail Holdings Exeter, Luzerne County Ben Franklin Northeast Investment: $25,000
PowerRail Holdings manufactures and distributes locomotive parts and provides mobile repair and maintenance services for the global railway industry. The investment supports optimization of their Enterprise Resource Planning (ERP) system to improve efficiency. PowerRail Holdings will partner with Enterprise Systems Partners (ESPI) and Alvernia University on this project.
Schott Advanced Optics Duryea, Luzerne County Ben Franklin Northeast Investment: $15,000
Schott Advanced Optics produces specialty glass and ceramics. The investment implements a structured Preventative Maintenance program at the Duryea site in order to systematically manage the required preventive maintenance activities for equipment. This will evaluate current maintenance costs and equipment downtime within the plant to establish target metrics for improved efficiency. Schott Advanced Optics will partner with Lehigh University’s Enterprise Systems Center on this project.