GE Selects Promising Smart Grid Technologies for Investment

The GE $200 ecomagination challenge, launched 10 weeks ago was GE’s way of bringing forth innovative ideas that will help transform the global energy landscape from one that relies on dirty energy to one powered by clean energy. The company said that the challenge attracted 70,000 technologists, students, entrepreneurs and start-ups who submitted their best ideas to build the next-generation power grid.

Proposals were sought in three categories: Renewables, Grid, and Eco Homes/Eco Buildings. A committee of representatives from GE businesses and GE partner firms evaluated the entries. Parnet firms include: RockPort Capital, Foundation Capital, Kleiner Perkins Caufield & Byers and Emerald Technology Ventures

This week, GE announced the winners of the first $55 million of funding.  GE and its partners are now negotiating investments and other commercial agreements with the companies and academic partners listed below, including two co-investments with venture capital partners.

Winning technologies include energy storage, utility security, energy management software and electric vehicle charging services. GE said that it expects these markets to grow rapidly into a $20 billion opportunity by 2015.

The winners are listed below:

 

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