Katherine Weidel has joined the family business as director of corporate operations.

Management Moves

Weidel Realtors, 2482 Pennington Road, Suite 3, Pennington 08534. 609-737-1522. Richard A. Weidel Jr., CEO. www.weidel.com.

Katherine Weidel, daughter of owner Richard A. Weidel Jr., is joining the family-owned business as director of corporate operations. Katherine Weidel graduated from Bucknell University, where she majored in sociology and economics. She worked in sales at Yelp in New York City and later became a consultant in human resources in Denver.

Stock Offering

TerraCycle, 121 New York Avenue, Trenton 08638. 609-393-4252. Tom Szaky, CEO. www.terracycle.com.

Terracycle, the Trenton-based company that recycles unusual products and creates reusable containers for consumer products, has raised $10 million from a stock offering, according to its latest quarterly report. The company hopes to raise $20 million to fuel growth through a “regulation A” offering that allows the general public to invest (U.S. 1, July 4, 2019).

The company also reported $11.2 million quarterly revenues.

As part of the stock offering TerraCycle has attracted investment in its Regulation A offering from ITOCHU Corporation, a 100-year-old, $50 billion revenue Japanese trading company. According to a press release, ITOCHU, one of the largest brokers of plastic worldwide, will work with TerraCycle to expand the market for post-consumer plastics, and in particular to develop and sell plastics that come from products that are usually not recycled.

The company also expanded its workforce by 10 percent.

“Our mission at TerraCycle has always been to eliminate waste, recycle the unrecyclable, and use our innovative business solutions to minimize human impact on the planet,” said TerraCycle CEO Tom Szaky. “During the course of our 18-year history we’ve successfully translated our passion for what we do into an established company built on a strong financial foundation with sustained earnings and growth.”

Expansions

First Bank (FRBA), 2465 Kuser Road, Hamilton 08690. 609-528-4400. Patrick L. Ryan, CEO. www.firstbanknj.com.

First Bank has completed its acquisition of Grand Bank and its two local branches, one at 2265 Route 33 in Hamilton Square and another at one Edinburg Road in Mercerville. First Bank now has six branches in Mercer County (U.S. 1, April 3, 2019).

“Although recent expansion has occurred out of state, we have never taken our focus away from our own backyard,” said First Bank President and CEO Patrick L. Ryan. “There’s a reason community banks are referred to as the ‘heart’ of the community. Our mission is to serve our customers and employees well, build relationships and give back to our neighbors.”

First Bank now has 18 branches in New Jersey and eastern Pennsylvania.

Princeton University Creates Quantum Initiative

Princeton University, 1 Nassau Hall, Princeton 08544. 609-258-3000. Christopher Eisgruber, president. www.princeton.edu.

Princeton University has announced the creation of the Princeton Quantum Initiative to foster research and training across the spectrum from fundamental quantum science to its application in areas such as computing, sensing, and communications.

Quantum science is the area of physics that describes behaviors at the scale of atoms and electrons. Scientists believe quantum technologies have the potential to revolutionize fields ranging from secure data transmission, to biomedical research, to the discovery of new materials.

According to a press release by the university, the inaugural director will be Andrew Houck, professor of electrical engineering and a pioneer in quantum computing technologies. The initiative will bring together more than 30 faculty members from departments across campus in the sciences and engineering.

Deaths

William M. Sokol, 84, on September 28. He was a co-owner of S&W Communications in Trenton for more than 30 years prior to retiring in 2002.

Douglas R. Tkacs, 75, on September 26. He was the owner-operator of Blue Chip Lawn Service in Pennington.

Joseph S. Holland, 69, on September 12. He spent the majority of his career at Church & Dwight in Princeton, retiring as GM of corporate facilities in 2012 after 26 years.

Mary Osborne Witherbee, 88, on September 6. She ran her own interior design business and was one of the first breeders of Shih Tzu dogs in the United States.

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