Ben Franklin to Invest $833,963 in Six Companies

July 27, 2006 11:49 AM US Eastern Timezone

BFTP/NEP will also invest $258,450 in eight business-technology incubators in the Ben Franklin Business Incubator Network.

LEHIGH VALLEY, Pa.--(BUSINESS WIRE)--July 27, 2006--The Ben Franklin Technology Partners of Northeastern Pennsylvania (BFTP/NEP) board approved investments of $833,963 in six Pennsylvania companies. BFTP/NEP will also invest $258,450 in eight business-technology incubators in the Ben Franklin Business Incubator Network.

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.