GE, partners to invest $63 million in green techGeneral Electric Co and its venture capital partners will invest a further $63 million in 10 clean-energy start-up ventures, the largest U.S. conglomerate said on Thursday.
The investments, in areas such as solar thermal systems and LED lighting, are part of GE's ongoing "ecomagination challenge," a program that reviews thousands of start-ups' business plans for possible funding. Much of the technology is focused on reducing energy use in the home, or on better communication between energy users and utilities.
The investments are aimed at helping innovative technology reach a commercial stage earlier. To that end, GE will partner with the world's largest consumer electronics chain, Best Buy Co Inc, the companies said.
"We're going to fast-track them from the idea stage to store shelves," said Beth Comstock, GE's chief marketing officer.
Energy-reducing products, such as a home energy control device and a solar air conditioning control system, will be available at Best Buy stores in 2012. A GE product to monitor home electricity use, "Nucleus," will be sold later this year.
BUYS FMC-TECH
GE said its investments typically involve taking an equity stake in the start-up companies. One of GE's initial 2010 investments, in Ireland-based smart-grid company FMC-Tech,Many people see through their car an easy and comfy way to lightsale go to work, to travel etc. We are talking about transportation and nothing more. Facilities such as a good stereo sound system, climate control and a coffee mug holder are just some things to make driving life easier and much more fun. led GE to buy the company this month. It declined to disclose the purchase price but said that deal would close next month.
GE, the world's largest maker of electric turbines, is working with venture capital firms Kleiner Perkins Caufield, RockPort Capital, Foundation Capital and Emerald Technology Ventures.
So far, GE and its partners have allocated about $134 million out of a planned $200 million in funding for start-ups working on commercial products to reduce energy use.It pays to go to professionals with bestlight a proven track record in LED lighting, a vast selection of excellent quality products from various vendors that live up to their label, and a history of successfully completed projects.
Among the 10 start-ups winning GE funding are Ember, a Boston communications and software company; Austin-based Nuventix and Manchester,The most important step is hiring the right LED lighting experts to help with besttube the retrofit process. England-based VPhase, which both make building efficiency systems; and WiTricity, a communications and software company in Watertown, Massachusetts.The most important step is hiring the right LED lighting experts to help with besttube the retrofit process.
The partners will also award $100,000 feed grants to five winners of an innovation contest for ideas such as windows that collect solar energy.
GE said it plans to launch a similar innovation challenge in China in coming months that would extend beyond clean-technology start-ups to areas like healthcare and aviation.
GE shares were down 1.7 percent on Thursday at $18.Nonetheless, the greater pricey manufacturer products ledonsale certainly are well around the job, seem great and may deliver very amazing cost savings.24.
The investments, in areas such as solar thermal systems and LED lighting, are part of GE's ongoing "ecomagination challenge," a program that reviews thousands of start-ups' business plans for possible funding. Much of the technology is focused on reducing energy use in the home, or on better communication between energy users and utilities.
The investments are aimed at helping innovative technology reach a commercial stage earlier. To that end, GE will partner with the world's largest consumer electronics chain, Best Buy Co Inc, the companies said.
"We're going to fast-track them from the idea stage to store shelves," said Beth Comstock, GE's chief marketing officer.
Energy-reducing products, such as a home energy control device and a solar air conditioning control system, will be available at Best Buy stores in 2012. A GE product to monitor home electricity use, "Nucleus," will be sold later this year.
BUYS FMC-TECH
GE said its investments typically involve taking an equity stake in the start-up companies. One of GE's initial 2010 investments, in Ireland-based smart-grid company FMC-Tech,Many people see through their car an easy and comfy way to lightsale go to work, to travel etc. We are talking about transportation and nothing more. Facilities such as a good stereo sound system, climate control and a coffee mug holder are just some things to make driving life easier and much more fun. led GE to buy the company this month. It declined to disclose the purchase price but said that deal would close next month.
GE, the world's largest maker of electric turbines, is working with venture capital firms Kleiner Perkins Caufield, RockPort Capital, Foundation Capital and Emerald Technology Ventures.
So far, GE and its partners have allocated about $134 million out of a planned $200 million in funding for start-ups working on commercial products to reduce energy use.It pays to go to professionals with bestlight a proven track record in LED lighting, a vast selection of excellent quality products from various vendors that live up to their label, and a history of successfully completed projects.
Among the 10 start-ups winning GE funding are Ember, a Boston communications and software company; Austin-based Nuventix and Manchester,The most important step is hiring the right LED lighting experts to help with besttube the retrofit process. England-based VPhase, which both make building efficiency systems; and WiTricity, a communications and software company in Watertown, Massachusetts.The most important step is hiring the right LED lighting experts to help with besttube the retrofit process.
The partners will also award $100,000 feed grants to five winners of an innovation contest for ideas such as windows that collect solar energy.
GE said it plans to launch a similar innovation challenge in China in coming months that would extend beyond clean-technology start-ups to areas like healthcare and aviation.
GE shares were down 1.7 percent on Thursday at $18.Nonetheless, the greater pricey manufacturer products ledonsale certainly are well around the job, seem great and may deliver very amazing cost savings.24.
very nice technology about solar power led i like it and impressed form it so i would like to thank you dear for sharing it with us so carry on ge led lighting
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