News Column

Ben Franklin announces $620K in business investments

July 9, 2014

By Scott Kraus, The Morning Call (Allentown, Pa.)

July 09--The Bethlehem-based Ben Franklin Technology Partners of Northeastern Pennsylvania has announced $620,000 worth of investments in early-stage companies and established manufacturers working on new initiatives with university partners.

Early-stage funding went to CEWA Technologies of Wyomissing, which received $350,000 for a project involving solar power; Good Vittles of Hamburg, which received $56,000 for an e-commerce product involving specialty foods; and U.S. Specialty Formulations of Bethlehem, which received $100,000 for work with injectable pharmaceuticals. All the investments come in the form of loans.

Manufacturers receiving matching funding for their efforts to partner with local universities on innovative projects include Bethlehem's Bosch Rexroth, which received $25,000 for work with Lehigh University on an automated data collection process and Fidelity Technologies Corporation of Reading which received $25,000 to work with Northampton Community College on tactical electrical power generation technology.

Others receiving matching funds include Hydro Recovery LP of Blossburg for work with Penn State University; Parlam Americas Group of Kutztown and Suburban Testing Laboratories of Reading for work with Lehigh University and PFM Industries Inc. of Williamsport for work with the Pennsylvania College of Technology.

Ben Franklin Technology Partners of Northeast Pennsylvania operates Ben Franklin TechVentures, a business incubator/post-incubator at Lehigh University where it is headquartered.

Twitter @skraus



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Source: Morning Call (Allentown, PA)

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