GE funds energy start-ups in smart grid contest
Having scoured the globe via the Internet for promising power grid technologies, General Electric today said it and its partners will invest $55 million to into 12 energy-focuses start-ups.
At a press conference in New York, CEO Jeffrey Immelt said that GE will also give out five $100,000 grants to scientists with less mature technology ideas. In another initiative, it will make $10 million available starting next year in a new University Challenge to spur more expertise and research in grid-related technologies, such as power electronics and materials science.
In July, GE announced that it and four venture-capital companies-- … Read more
