#b#Ocean Power Loses Oregon Buoy Project#/b#
Ocean Power Technologies, an alternative energy company based on Reed Road in Pennington, had its only U.S. project canceled by the Department of Energy in April.
In an SEC filing, the company announced the DOE terminated a project that would have launched a wave power buoy off the coast of Reedsport, Oregon. OPT said in the filing that it was unable to obtain the funding required to launch the buoy, which would have provided 150 kilowatts of power, or enough to supply about 75 homes. State and federal grants had given the company about $8.9 million towards the goal of building a power station consisting of 10 of these buoys, which are designed to convert the motion of waves to electricity.
OPT is proceeding with a similar project to build a power station in Australia. It has received $5 million of a $66 million Australian grant, but the company will also have to raise its own funds to complete that project.
Ocean Power Technologies (OPTT), 1590 Reed Road, Pennington 08534; 609-730-0400; fax, 609-730-0404. Frederick Dunleavy, CEO. www.oceanpowertechnologies.com.
#b#New in Town#/b#
The Clark Group Inc., 3705 Quakerbridge Road, Suite 116, Hamilton 08619; 609-528-7660; fax, 609-528-7710. Charles Fischer, CEO. clarkgroupinc.com.
The Clark Group, an international printing logistics company, has moved its headquarters to Quakerbridge Road. The company operates a network of nine distribution centers located across the United States.
Louise L. Goss, 87, on April 1. In 1960 she and Frances Clark co-founded the New School for Music Study in Princeton. A service will be held Saturday, June 7, at 11 a.m. at Nassau Presbyterian Church in Princeton. A celebration of her life in words and music will be Sunday, June 8, at 3 p.m. at Nassau Presbyterian.
Margaret “Peggy” Yohe Snyder, 54, on May 2. She founded Emerald Environmental Solutions, an engineering firm in Straube Center.
Peter G. Callas, 54, on May 3. He was managing editor of the Times of Trenton from 1997 to 2009 and later ran a public relations firm, PGC Communications.