The Ben Franklin Technology Partners of Northeastern Pennsylvania’s (BFTP_NEPA) Board of Directors has approved the investment of $134,750 in support of regional economic development. Three companies from BFTP_NEPA’s 21-county service area received funding. The investment identified as a continuation project indicates that the client achieved pre-determined milestones and is receiving more funding to accomplish additional project work.

BFTP_NEPA announces the following early-stage company investment, which is provided in the form of loans with warrants.

Dark Moon IRVR, Hawley, Pike County

Ben Franklin Investment: $100,000

Support the fit out and launch of a production lab for 360º immersive virtual reality. As a result of this project, the company will have a state-of-the-art production facility at which it can produce and commercialize a virtual reality solution for the music, theater, television, and sports industries.

Ben Franklin provides 1:1 matching funding for work with a college or university partner on technology-based innovation in established manufacturers.

Diamond K. Inc. http://www.diamondkinc.com/ Scranton, Lackawanna County

Ben Franklin Investment: $9,750

University Partner: Wilkes University

Identify an innovative solution for a paper sorting process that increases the volume of material moving through production that also results in a less physically demanding production environment. Diamond K is a paper waste management company that provides document destruction and recycling services.

Noble Biomaterials, Inc. https://noblebiomaterials.com/ Scranton, Lackawanna County

Ben Franklin Investment: $25,000 – continuation project

University Partner: Wilkes University

Operationalize a process to consistently increase production throughput while exceeding current quality performance, providing required capacity to meet growing demand. Noble Biomaterials manufactures silver-plated fibers for control of static electricity, control of electromagnetic interface, and antimicrobial applications.