Life-Pack To Receive $350K from Ben Franklin Technology Partners
Ambler, PA — Life-Pack Technologies, Inc., ("LPT") manufacturer of multi-story firefighting, rescue and occupant safety equipment, today announced the Company will receive $350K in funding from Ben Franklin Technology Partners of Southeastern Pennsylvania (BFTP).
The funds will be used in the commercialization of Bailout Buddy™, an automatic and hands-free device used by firefighters to bail out of a burning building through an upper floor window and POWERIZER™, an add-on to Bailout Buddy that converts it to a lifesaving winch to rescue victims of a floor collapse. Bailout Buddy and POWERIZER should be in use by the fire service in early 2008.
"We are pleased that the investment committee at BFTP believes in the commercial success of our lifesaving products" said Robert Leon, Life-Pack Technologies founder and CEO. "We believe our products will dramatically improve the safety of firefighters and building occupants around the world. And in so doing we hope to create a positive return for BFTP and all our investors."
Today, firefighters rely on rope systems that require the use of both hands, break easily under the force of a free-fall, and disintegrate after a few minutes at high fire temperatures. By contrast, Bailout Buddy is hands-free, includes a force-limiter that absorbs the impact of a free-fall, and uses high-strength aircraft cable that is more resistant to fire temperatures.
BFTP is an independent not-for-profit economic development organization established in 1982 to stimulate economic growth through innovation, entrepreneurship and the development and adoption of new technologies. Part of a statewide network supported by the Pennsylvania Department of Community and Economic Development, BFTP provides capital and expertise in technology, finance and business that helps entrepreneurs and established businesses overcome challenges and plan for growth.
About Life-Pack
Life-Pack Technologies was formed following the tragedy of September 11, 2001 to address the need for better, safer multi-story firefighting and rescue, and external mass-evacuation of high-rise occupants. Life-Pack's patented products help firefighters bail out of an upper floor window, ferry vital equipment to a high staging floor, extract fallen firefighters following a floor collapse, and enable thousands of occupants trapped on an upper floor to safely exit the building and descend slowly to the ground. To learn more, please visit www.life-pack.com.
Media Contact:
Robert Leon, Founder and CEO
(215) 653-7311
rleon@life-pack.com
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