New Way Air Bearings Inc Has Receive USD $270,000 Grant

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Aug 02,2006

New Way Air Bearings Inc. (USA) has receive a USD $270,000 development grant from Ben Franklin Technology Partners of Southeastern Pennsylvania. Located in Aston, New Way manufactures air bearings in, "integrated porous media air bearing solutions." Applications include semiconductor manufacturing equipment, CMMs, material test equipment, and high-precision lathes. The company employs approximately 60 workers. Porous media air bearings, as their name implies, force air through the entire media and over the entire surface area. Standard construction air bearings deliver air through a surface via an array of holes, or orifices. New Way says its air bearings deliver more consistent air pressure distribution for, "superior performance, damping, and stability." Porous media air bearings also continue to function properly even when the bearing or guide surfaces are scratched or damaged. Started in 1982, Ben Franklin provides funding to companies across Pennsylvania who posses promising technologies. Awards are based on a number of factors including commercial potential and strength of the management team. Funded by the Department of Community and Economic Development, it has distributed a total of $110 million to more than 1,400 companies. It is a follow-on to a fund set up by Benjamin Franklin and which supported entrepreneurs for almost 200 years. Ben Franklin's most recent round of funding distributed a total of $2.7 million to eight companies. In somewhat related notes, 2006 is the tercentenary of Benjamin Franklin's birth.

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