Edited by Scott Morgan
#b#Companies Get Funding#/b#
NRG Energy Inc. (NRG), 211 Carnegie Center, Princeton 08540-6213; 609-524-4500; fax, 609-524-4501. David Crane, president and CEO. Home page: www.nrgenergy.com.
NRG Energy will receive up to $154 million from the federal Department of Energy to build a post-combustion carbon capture demonstration unit at the company’s plant near Houston, Texas. The project, proposed under the Clean Coal Power Initiative Program is intended to develop low-emission carbon capture and storage technologies in coal-based power generation.
NRG, which provides power nationwide, is responsible for putting more carbon into the atmosphere annually than the nation of Norway. CEO David Crane has been an outspoken proponent of cleaner technologies (namely nuclear) that will limit such output. Unfortunately, he has said, coal is cheap, and, therefore, easy to use, despite its environmental drawbacks.
“The DOE recognizes the need to put a high priority on funding clean coal projects in order to substantially reduce the carbon intensity of existing fossil fuel electricity production,” Crane said.
The project is scheduled to begin operating in 2013.
Tobira Therapeutics Inc., 214 Carnegie Center, Suite 306, Princeton 08540; 609-897-1102. James Sapirstein, CEO. Home page: www.tobiratherapeutics.com.
Tobira Therapeutics (U.S. 1, February 24), a Carnegie Center-based developer of AIDS drugs, has raised $4 million in a debt and warrants offering.
The company originally received $31 million in series A financing from Domain Associates, Frazier Healthcare Ventures, Montreux Equity Partners and Canaan Partners in 2007, enough to carry into this year. CEO James Sapirstein said he is looking to raise about the same amount to carry Tobira’s research into 2012.
The $4 million will carry Tobira through June, he said.
Consumer Health Sciences LLC/Kantar Health, 1 Independence Way, Suite 220, Princeton 08540; 609-720-5480; fax, 609-720-5481. Mike Kelly, CEO. Home page: www.chsinternational.com.
Consumer Health Sciences, recently bought by Kantar Health, has moved from Suite 78 at 116 Village Boulevard to join sister companies at 1 Independence Way. Also here are TNS, Ziment, Mattson Jack, Lightspeed, and HCI. Kantar is billed as the world’s largest healthcare-focused primary research and consulting company.
QSGI/WindsorTech Inc. (QSGI), 70 Lake Drive, Hightstown.
N-1 Technologies, a Chicago-based equipment management company, has acquired the data security and compliance business of QSGI.
In a letter, N-1 president Paul Mayor said his firm “has broadened both our range of services as well as our client coverage area through a strategic acquisition plan.
This acquisition further strengthens N-1’s commitment to assist its clients in reducing the total cost of ownership and maximizing the return on their IT investments.”
Advanced Engineering Group, 850 Route 1, North Brunswick 08902; 732-220-9300; fax, 732-220-9322. Romano Algero, president. Home page: www.advancedengineering.com.
Advanced Engineering, which provides civil, site, transportation, and geotechnical engineering services, has moved from Jefferson Plaza in Princeton to North Brunswick.
Careers USA, 116 Village Boulevard, Suite 200, Princeton 08540; 609-919-9100; fax, 800-608-1929. Melissa Tenzer, president. www.careersusa.com.
Careers USA, an employment agency founded in 1981, has moved from 3371 Route 1 in Lawrenceville to 116 Village Boulevard in Princeton.
Beazer Realty Inc. (BZH), 275 Phillips Boulevard, Trenton www.beazer.com.
Beazer, a residential home builder, has left its Ewing offices for Philadelphia.
Atlanta-based Beazer, which built more than 100,000 houses in 16 states over the past 10 years, signed a settlement with the Justice Department last July, acknowledging it had engaged in predatory practices by selling homes young owners could not afford and misrepresenting buyer incentives. The company also admitted to falsifying mortgage applications in order to get loans guaranteed by the FHA and to overstating its profits.
The company paid a $15 million fine in connection.