The Colibri Group Inc., of East Providence, a privately held company that designs, manufacturers and markets branded jewelry, lighters, accessories and clocks, said yesterday it had completed new financing that included an equity investment by the company's major shareholder and recapitalization of the company's bank lines. Chief executive officer Jim Fleet said the company had made a substantial investment late last year and early this year when it relocated and consolidated its operations in East Providence. "The equity investment made by our firm, Founders Equity, confirms its continuing commitment to Colibri's business, its multiple product lines and positions the business to maximize the use of Colibri[sup 1]s diverse distribution channels and better serve the consumer," said Warren Haber, Founders managing partner and chairman of Colibri. The company also said Fleet joined the board of directors of Colibri.

Mass. Agency sides with Cape Wind developers

The Massachusetts Energy Facilities Siting Board has sided with the developers of the proposed Cape Wind energy farm in Nantucket Sound after the Cape Cod Commission denied the project a permit for an electric transmission line. The board ruled they had the authority to review the commission's denial and that the review would be limited to the transmission line -- not the impacts of the wind farm. Critics say the proposed 130-turbine wind farm is an environmental hazard and will mar the pristine view of the sound. Cape Wind Associates, the developer, argued that the commission's decision was inconsistent with a 2005 ruling by the siting board approving the power lines, which would carry electricity to a switching station in Barnstable.

New submarine completes sea trials

The nation's newest nuclear-powered attack submarine, the New Hampshire (SSN 778), returned to the Electric Boat shipyard in Groton, Conn., yesterday following the successful completion of its first voyage in open seas, called alpha sea trials. The voyage included submerging for the first time, performing propulsion-plant operations and conducting high-speed runs on the surface and underwater. New Hampshire will be delivered to the Navy by the end of summer. Director of Naval Nuclear Propulsion Adm. Kirkland Donald, who directed the sea trials, said, "New Hampshire, the fifth of the Virginia Class, performed satisfactorily in all operations and this success is a direct result of the hard work of both the crew and the shipbuilders." Electric Boat, which has facilities at Quonset Point as well as Groton, has received contracts to build the first 10 submarines of a planned 30-ship Virginia Class fleet under a teaming agreement that splits the construction workload with Northrop Grumman Shipbuilding. Electric Boat is a wholly owned subsidiary of General Dynamics.