Matthew McMullin, who is based in the company's Whitehouse Station headquarters, has been named North America leader of the new division. Matthew Hardy, based in London, will serve as Chubb Overseas General leader.

In addition to purchasing two operational biogas facilities, Suburban Renewable Energy LLC said it will also form a partnership with the seller, Equilibrium Capital Group.

According to the company, the yearly national average is projected to drop by nearly 50 cents per gallon from 2022.

President and CEO Steve Westhoven lauded Jacqueline Shea and Stephen Skrocki as "valued members of our team" who "continue to distinguish themselves with sound leadership, proven expertise and a commitment to excellence."

Starting Dec. 27, weather-permitting, the Camden-based utility will begin replacing more than a mile of aging main, as well as seven fire hydrants, 300 utility-owned service lines and any customer-owned lead or galvanized service line. 

The nearly $150,000 project includes the upgrading of original stations and the addition of 10 new sites.

The initiative provides grants of up to $250,000 each to startups to help accelerate the commercialization in the space while offsetting costs typically associated with prototype testing.

According to Enhanced Capital Managing Director Ed Rossier, the expansion makes the Asbury Park company's "community solar footprint one of the nation’s largest clean energy portfolios specifically designated for low- and moderate-income households and [it] will drive down their utility costs by 20% on average.”

The Red Bank firm – which recently completed the state’s largest capped landfill array in Mount Olive – said this undertaking will serve low- to moderate-income residents and will enable the township to recoup 40 years of back taxes and interest.

The $70,000 went to four nonprofits as part of the Keep Communities Flowing program, which is focused on three pillars of giving: Water, People and Communities.

The project – the largest single offshore wind project awarded in New Jersey and the third largest in the country – will be located 10 to 20 miles off the coast of Atlantic City.

The move was applauded by business groups and owners across the state who had immediately panned the proposal when it was introduced last year due to its high implementation costs.