Posted on: Wednesday, June 22, 2005

BUSINESS BRIEFS
Firms to get maritime grants

Advertiser Staff

The National Defense Center of Excellence for Research in Ocean Sciences in Kailua, Kona, has selected 14 companies to receive more than $6.2 million to develop maritime technology.

The 2005 CEROS technology development program is affiliated with the Natural Energy Laboratory of Hawaii Authority with funding through the Defense Advanced Research Projects Agency. Since 1993, the annual program has funded 174 projects in Hawai'i for more than $65.75 million.

For a complete list of grant recipients, see www.ceros.org.

Sale of farm's assets approved

A federal bankruptcy judge has ruled that the owner of a Kaua'i shrimp farm can sell the farm's assets to an outside investor. The ruling by U.S. Bankruptcy Judge Robert Faris allows Ceatech USA Inc. to sell the operation to Sunrise Capital LLC of Honolulu.

Ceatech operates the farm on land leased from the state in the Kekaha Agricultural Park. Ceatech filed for bankruptcy protection in March, and since then has done little more than hatch shrimp.