Lehigh Valley

Cryogenics company graduates from Allentown business incubator

VIDEO: Business graduates from AEDC...

ALLENTOWN, Pa. - A new business has graduated from the incubation program of the Allentown Economic Development Corporation.

ColdEdge Technologies, an Allentown Cryogenics systems manufacturer, held an event today at its office in the Bridgeworks Enterprise Center, marking its transition out of the AEDC's program.

According to the AEDC’s website, the goal of the incubation program is, “to provide the resources to help startups move from the launch process to self-sustaining profitability, then to graduate them into the City of Allentown or into a suitable site within the greater Lehigh Valley.”

ColdEdge will stay in the 6,200 square foot unit it currently occupies. The company was founded in 2008 and accepted into the incubation program in July of that year.

A press release notes that ColdEdge's products are used by chemists and physicists “conducting research in the fields of astronomy, superconductor studies, ultra-high vacuum systems, spectroscopy, neutron scattering, X-ray diffraction, and many more.”

They say half of their customers are in the United States and half are throughout the rest of the world.
ColdEdge President Terry Rufer, speaking on behalf of his three co-founders, lauded the incubation program and the work of his colleagues and family.

“It all worked out very well for us. We're very lucky that we're here, and had all this help.”

Anthony Durante, the AEDC Program Manager, similarly praised the graduating company, saying “AEDC is proud to have been part of ColdEdge's success, whether it was providing the flexibility to move from one space to another...or by providing the consultants and mentors that could provide the guidance that allowed the team to reach its next milestone.”

Allentown Mayor Ed Pawlowski and State Rep. Peter Schweyer, D-Lehigh, also attended the event.

 


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