Briefcase

Issue of Oct. 18, 2005

By: George Spohr
Lightwave, IBM team on detection
   CRANBURY — Princeton Lightwave, a manufacturer of high-performance optical semiconductor components, has licensed IBM’s single-photon detection technology.
   An SPD is an essential component of quantum cryptography systems, which enable extremely secure communications, even in the presence of eavesdropping.
   Quantum cryptography systems are being developed for government and financial institutions and are expected to find widespread use.
NRG Energy buys Texas Genco
   WEST WINDSOR — NRG Energy Inc. has purchased Texas Genco, a privately held power generator, in a $5.8 billion deal. Of that amount, $4 billion will be paid in cash, and $1.8 billion will be paid in stock.
   NRG also will assume $2.5 billion in Texas Genco’s debt. NRG Energy said the combined company will be strengthened by a broader geographic reach.
   NRG Energy owns and operates power facilities in the Northeast, South Central and Western United States. It also, through a network of worldwide partners, operates facilities in Australia, Brazil and Germany.
Princeton Partners now in 3 divisions
   PLAINSBORO — Princeton Partners has created three divisions to meet the needs of its growing health care client base.
   One division, Princeton Partners Health, is a full-service marketing firm to handle health care clients. Princeton Partners Devcom, another division, specializes in consulting and educational tools for pharmaceutical companies. And a third, P3 Princeton Partners Promotions, offers promotion-event concepts and specializes in corporate branding.
Universal Display gets $750K contract
   EWING — Universal Display Corp. has been awarded a two-year, $750,000 Small Business Innovation Research contract by the U.S. Department of Energy to develop a white OLED light source.
   The contract, for a project called "High Efficiency White TOLED Devices for Lighting Applications," involves Universal Display incorporating its proprietary TOLED technology in a way that improves light extraction.
   Traditionally, only 25 to 30 percent of light generated by an OLED device is emitted to the viewer. The development of technology to extract even more viewable light from the technology is at the heart of the project, the company said.
Foundation awards $125K for grants
   WEST WINDSOR — The New Jersey Hospital Quality Initiative, a joint project of the Rutgers Center for State Health Policy, the New Jersey Hospital Association and the New Jersey Department of Health and Senior Services, has received a $125,000 grant to help New Jersey hospitals improve quality of care.
   The one-year grant provides support for the first year of the project and covers the costs of program development, quality improvement activities and program evaluation.
Turnpike expansion topic of meeting
   EAST WINDSOR — The East Windsor Township Economic Development Committee and the Princeton Regional Chamber of Commerce will co-host a public policy forum and networking breakfast for area businesses from 8 to 9:30 a.m. Tuesday, Nov. 1, at the Americana Diner on Route 130.
   The guest speaker will be Steve Buente, supervisor for engineering planning at the New Jersey Turnpike Authority.
   "Having direct access to the New Jersey Turnpike has always been an important assset for economic growth and development in the township," Mayor Janice S. Mironov said. "The Turnpike Authority’s proposal to improve capacity on the Turnpike will be of great interest to businesses in our region."
   The meeting, which includes a full breakfast, costs $15. Advance registration at www.princetonchamber.org is required. For more information, call (609) 924-5776.