Novetas Solutions Secures $200K Investment

FOR IMMEDIATE RELEASE
Philadelphia, Pennsylvania, United States of America (Free-Press-Release.com) October 18, 2011 --

Philadelphia, PA - Novetas Solutions, LLC is pleased to announce that Ben Franklin Technology Partners of Southeastern Pennsylvania (BFTP/SEP) recently approved a new investment of $200,000. Novetas' abrasive media, made from 100% recycled glass, is used for blast cleaning and preparation of surfaces including bridges, pipes, ships and cars. The investment will expand jobs for the company's green, worker friendly products. The Ben Franklin funding comes from a new $1,000,000 federal fund award from the U.S. Small Business Administration (SBA). Novetas is honored to be the first recipient chosen to receive an award from the new SBA grant. This award further expands the commitment by BFTP/SEP in assisting Novetas as they expand their business which includes the largest selling crushed glass abrasive brand in the country, New Age Blast Media®. This is a second round award by Ben Franklin to Novetas; Ben Franklin was instrumental in the launch of Novetas in June 2008 with a start-up investment of $300,000.

New Age Blast Media, Novetas' signature product, is made from recycled glass. New Age Blast Media has seen rapid growth across the country the last three years as it is safer for worker health and the environment than other slag-based abrasives that contain toxins and heavy metals. As New Age Blast Media has grown, new glass plants creating jobs have sprung up across the country while the HQ staff in Philadelphia also continues to grow. Recently, a major new EPA Air Emission regulation targeting a large segment of the abrasive blast industry changed their regulation and recommended the use of "crushed glass" to avoid certain hazardous air pollutants. The change in the rule came from key government health studies submitted to the EPA by Novetas Solutions.

"Novetas is clearly excited to once again have the opportunity to partner with BFTP, and now the federal SBA, to help us continue to grow our business and add new jobs by creating products that deliver on performance while protecting human health and the environment. New Age Blast Media has proven that customers can buy green while still being cost competitive. All our products are made in America and directly benefit the environment by using recycled glass that often would wind up in a land fill" commented Paul J. Mellon Jr, President of Novetas Solutions.

Background on Fund Information

PHILADELPHIA, September 13, 2011 - Acting U.S. Secretary of Commerce Rebecca Blank, Small Business Administration (SBA) Administrator Karen Mills, Philadelphia Mayor Michael A. Nutter and Gururaj "Desh" Deshpande, Co-Chairman of the National Advisory Council on Innovation and Entrepreneurship (NACIE), celebrated new federal support for innovative entrepreneurs, small businesses, research and commercialization innovation at a meeting of NACIE. Administrator Mills acknowledged two Pennsylvania winners, out of twenty across the country, of the SBA's new, competitive Intermediary Lending Pilot (ILP) Program. Philadelphia was the only city in the nation with two organizations receiving funds through the ILP.



The award provides $1 million each to Ben Franklin Technology Partners of Southeastern PA and the Philadelphia Industrial Development Corporation (PIDC) to invest in regional startups and to grow small businesses. This funding will provide a new source of financing to drive economic growth and job creation.

SBA Administrator Mills added, "Philadelphia's startups and small businesses now have two new sources of financing through this pilot program. These loans of up to $200,000 play a critical role in helping Philadelphia small businesses start, grow and create jobs, especially in underserved communities."


About Novetas Solutions

Novetas Solutions, LLC manufactures and sells its branded New Age Blast Media®, which is 100% recycled bottle glass that is used as a blast abrasive for cleaning surfaces such as building exteriors, bridges, and naval ships. The use of post-consumer glass directly benefits the environment by reducing landfill waste, and the glass-based blast media is chemically non-toxic and inert, making it safe to use near or over water. Novetas is committed to using fact based marketing strategies, a devotion to product quality, national availability and superior customer service to build well known, branded products. Novetas' signature product, New Age Blast Media, has already become a nationally recognized expendable abrasive in the surface preparation industry and the Brand has even been authorized for use by the US Military and the Strategic Petroleum Reserve. Additional products using crushed glass are in active development in areas such as aggregates (Novacast®) and pool filtration (Nova sand ®)

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