GE and Venture Capital Partners to Invest $55 Million in New Technology as part of the "GE ecomagination Challenge" - MarketWatch
NEW YORK, Nov 16, 2010 (BUSINESS WIRE) -- --Energy Storage, Utility Security, Electric Vehicle Charging Services, Energy Management Software and other Breakthroughs Tapped for Funding
GE (GE 16.02, -0.18, -1.11%) and its venture capital partners today announced a collective investment of $55 million in leading power grid technology companies as part of the $200 million "GE ecomagination Challenge" (www.ecomagination.com/announcements). This is the first of several rounds of innovation funding planned by GE and its venture capital partners as part of the Challenge, a global commitment to accelerate the development and deployment of power grid technology through open collaboration.
