LAUTENBERG, MENENDEZ ANNOUNCE MORE THAN $1.5 MILLION FOR NEW JERSEY TECHNOLOGY COMPANIES

LAUTENBERG, MENENDEZ ANNOUNCE MORE THAN $1.5 MILLION FOR NEW JERSEY TECHNOLOGY COMPANIES
Grant Will Help Develop and Disseminate Promising Technological Advances

NEWARK, N.J. – U.S. Sens. Frank R. Lautenberg (D-NJ) and Robert Menendez (D-NJ) today announced that the National Institute of Standards and Technology will award more than $1.5 million in federal funds to corporations in New Jersey to develop new, high-risk technology.

“This innovative technology could help provide valuable insights into groundbreaking research,” Sen. Lautenberg said.  “New Jersey has always been at the forefront of state-of-the-art technological developments, and these grants go a long way to ensure our state maintains that innovative leadership.”

“It’s important to be one step ahead of our technological needs and this grant will help New Jersey researchers continue their outstanding work,” said Sen. Menendez.  “These funds will go to not only enhance existing technology, it will expand the realm of possibilities in healthcare.”

The two corporations will receive a total of $1,594,961:

* Velox Semiconductor Corporation, Inc will receive $1,040,211 to promote technological developments in the area of electronics and photonics with possible broad-based economic benefits; and

* Anima Cell Metrology, Inc will receive $554,480 to disseminate biotechnical findings with potential for significant economic benefits.

Velox Semiconductor Corporation, headquartered in Somerset, provides cost-effective and reliable Gallium Nitride (GaN) devices to the power supply industry.  GaN technology helps make power supplies more portable by improving the cost, size and efficiency of power supply systems.

Anima Cell Metrology Inc. of Bernardsville works to develop Protein Synthesis Measurement (PSM), a new technology that will improve the speed and accuracy of monitoring biological data.  This development will allow for the real-time identification and counting of proteins as they are being synthesized within cells providing new information about biological and disease mechanisms.

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