The Ben Franklin Technology Partners of Northeastern Pennsylvania’s board of directors recently approved $250,000 in investments to support four early-stage companies.
Established manufacturers working with a college or university partner receive 1:1 matching funding for technology-based innovations.
Investments were provided as loans with warrants.
Joe Jurgielewicz & Son in Berks County and its university partner Lehigh University’s Center for Supply Chain Research received $25,000. Funding will be used to increase processing capacity and enhance efficiency.
mXtr Automation in Lycoming County received $100,000. Funding will be used to enhance the company’s software platform to increase sales.
Sivana Converting in Luzerne County received $100,000 to prepare its manufacturing facility to produce hemp-based biodegradable to-go food containers, straws, plates, cups, and cutlery.
Sivana hopes to expand its product offerings to supply proprietary hemp-based pulp and fibers as raw materials to other manufacturers.
Hemp-based products are 3.5 times stronger than common polypropylene, decompose within six months, are non-toxic and pesticide-free, are recyclable, and are manufactured using renewable biomass sources.
Structural Services in Northampton County and its university partner Lehigh University’s Enterprise Systems Center received $25,000 to conduct data and financial impact analyses on new processes, identify and develop more efficient options, and document and analyze the existing cost/data collection process.