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EDC Finance provided a $400,000 PIDA loan to Energy Wall last year.
Lancaster, PA – Today, Department of Community and Economic Development (DCED) Deputy Secretary Sheri Collins continued the ‘Jobs that Pay’ tour at Energy Wall, a manufacturer of advanced high-efficiency energy recovery technology, in Lancaster, highlighting Governor Tom Wolf’s commitment to promoting entrepreneurship in the technology sector, advancing technological innovation, and creating a technology-ready workforce in Pennsylvania.
“These visits are a great opportunity to show how the partnership between the public and private sectors is pushing Pennsylvania’s technology sector forward,” Collins said. “Tech companies like Energy Wall demonstrate how the Wolf Administration is helping to cultivate a business environment driven by innovation.”
Deputy Secretary Collins highlighted Governor Wolf’s initiatives to help the technology sector grow in Pennsylvania, including supporting the Ben Franklin Technology Partners of Central and Northern PA (BFTP/CNP) – an initiative of the Department of Community and Economic Development and funded by the Ben Franklin Technology Development Authority (BFTDA). BFTP/CNP provides seed capital, technical assistance, and business support services to emerging tech-based companies and small, existing manufacturers in order to create and retain jobs in Pennsylvania.
BFTP/CNP is the largest early-stage seed investor in the region, and gives companies like Energy Wall the ability to leverage the partners’ unique strategic and financial resources; BFTP/CNP has invested $535,000 into Energy Wall and has provided extensive mentoring including strategic planning, marketing planning, human resource structuring, hiring and management, and accounting assistance.
“Energy Wall wouldn’t exist without the Ben Franklin Technology Partners,” said Dustin Eplee, president and chief technical officer of Energy Wall. “The support they’ve provided us over the years has been critical to our success. Energy Wall enables homeowners and commercial building owners across the globe to save energy, and developing that kind of technology here in Pennsylvania is vital for our economic engine.”
BFTP/CNP is one of four regional Ben Franklin Technology Partners (BFTP). In calendar year 2016, the BFTPs reported the combined creation of 1,383 jobs and the retention of 7,919. A total of $474,890,377 in post-BFTP financing was secured by client companies while sales generated by BFTP client companies were in excess of $903 million.