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New World TMT, its tech and media subsidiary, is chaired by Henry Cheng, eldest son of New World founder and billionaire Cheng Yu-tung.
FORBES: Financial Follies
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With this approval, the BLNR has recognized TMT's goal of responsible development and environmental stewardship of Mauna Kea in close partnership with local interests.
ENGADGET: Hawaii clears land use for the Thirty Meter Telescope, construction to start in 2014
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TMT telecom, media, and technology is another sector Guy is wary of, even though prices have been in a downtrend for nearly a year and have corrected sharply lately.
FORBES: Constellation manager
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The TMT Board expresses our strong commitment to respect the long history and cultural significance of Mauna Kea to the Hawaiian people, and has committed annual funding for local community benefits and education in Hawaii.
ENGADGET: Hawaii clears land use for the Thirty Meter Telescope, construction to start in 2014
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With a seed round that large, there are not surprisingly an army of investors, including funds such as Thomvest Ventures, Menlo Ventures, Draper Fisher Jurvetson, Yuri Milner, Phenomenon Ventures, TMT Investments, DominateFund and FundersClub.
FORBES: Move up http://i.forbesimg.com t Move down
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The Hawaiian Board of Land and Natural Resources (BLNR) announced that it has granted a permit to the Thirty Meter Telescope (TMT) project to build and operate the next-generation observatory near the summit of Mauna Kea.
ENGADGET: Hawaii clears land use for the Thirty Meter Telescope, construction to start in 2014
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"We are delighted that the TMT project has now been granted a Conservation District Use Permit, " said Edward Stone, the Morrisroe Professor of Physics at the California Institute of Technology (Caltech) and vice chair of the TMT board.
ENGADGET: Hawaii clears land use for the Thirty Meter Telescope, construction to start in 2014
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"Over the last several years, the TMT project has welcomed the support it has received from all sectors of the Hawaiian community, from education to cultural to business to labor, " said Sandra Dawson, TMT's Manager of Hawaii Community Affairs.
ENGADGET: Hawaii clears land use for the Thirty Meter Telescope, construction to start in 2014