Several Lehigh Valley companies have been selected to receive financial support from Ben Franklin Technology Partners of Northeastern Pennsylvania.
The Ben Franklin Technology Partners of Northeastern Pennsylvania’s (BFTP_NEPA) Board of Directors has approved the investment of $465,000 in support of regional economic development.
Eleven companies and 12 business incubators from BFTP_NEPA’s 21-county service area received funding.
Among those selected, BFTP_NEPA is investing in MDS Link. Inc. Bethlehem as an early-stage company.
Ben Franklin TechVentures of Bethlehem chose the company to receive $100,000 in the form of loans with warrants to continue manufacturing and sales and marketing efforts of an inexpensive and patented hardware/software solution that enables gigabit data transmission across existing coax cable.
There is a growing market need to increase bandwidth rates in buildings like hotels and apartments that have pre-existing coax infrastructure. MDSlink’s module can be installed into modern networking equipment configurations to deliver massive increases in bandwidth at a substantially lower cost than the installation of new fiber lines through buildings, BFTP_NEPA said.
Ben Franklin will also provide 1:1 matching funds of $25,000 to Dynalene Inc., Whitehall, which is working with Lehigh University’s Center for Supply Chain Research to conduct product validation and testing for large customer specifications for manufacturing de-ionizing filter cartridges that are used in the coolant loops of fuel cells, electric vehicle (EV) charging stations, and heat-producing electronics and computers.
Dynalene develops, manufactures, and distributes industrial heat transfer fluids and related accessories. This work will allow Dynalene to improve manufacturing efficiencies and increase production yield to continue to grow in the fuel cell/automotive and electronics industry, BFTP_NEPA said.
Also, eti, Inc., Morgantown, Berks County will receive $25,000 for its work with Alvernia University’s O’Pake Institute to increase capacity to meet growing customer demand by focusing on Operational Process Excellence to improve output, Ben Franklin said.
eti manufactures chemical formulations for industrial water treatment for cooling and boiler water systems and membrane systems, as well as process, potable, and wastewater treatments. eti’s formulations are used by regional, national, and international water treatment companies.
Myers Emergency Power System, Bethlehem, Northampton County, will receive $7,500 for its work with Lehigh University’s Enterprise Systems Center to implement Lean Manufacturing processes and develop configure-to-order capabilities at this manufacturer of highly engineered emergency power backup equipment, such as emergency lighting, traffic, rail, and broadband, as well as components, Ben Franklin said.
Myers provides integrated technology solutions mandated by safety codes in industries including data centers, government buildings, and healthcare centers. The work will help Myers enhance manufacturing efficiencies and lead times, allowing the company to increase sales, the organization said.
Ben Franklin also supports business incubators, an important component of the entrepreneurial and technology ecosystem in northeastern Pennsylvania and is investing $60,000 in 12 incubators, each of which will receive $5,000.
Two of the 12 are Bridgeworks Enterprise Center, part of the Allentown Economic Development Corporation and O’Pake Institute for Economic Development and Entrepreneurship at Alvernia University, Reading, the organization said.