5 Comments

Summary:

GE’s got its massive Ecomagination green product line that churns out wind turbines, smart meters and water filtration technology, but the conglomerate has another green side: cleantech VC. GE’s VP of its Ecomagination division, Steve Fludder, told an audience at the Cleantech Forum this morning that […]

GE’s got its massive Ecomagination green product line that churns out wind turbines, smart meters and water filtration technology, but the conglomerate has another green side: cleantech VC. GE’s VP of its Ecomagination division, Steve Fludder, told an audience at the Cleantech Forum this morning that GE will continue to look for investments in innovative green technology startups — so far GE has invested in 16 companies to the tune of $150 million over the past two and a half years, he said.

In such a difficult economic climate, scoring funds from GE is like winning the lottery — GE doesn’t just bring cash, it can connect a startup with its thousands of researchers and strong partnerships with industry and government. And given GE’s manufacturing history it can also aid in commercializing products on a massive scale. In 2009, Fludder says GE’s eight-member investing team will still be keeping busy. In the past, GE has invested in startups as diverse as smart grid company GridNet, lithium-ion battery maker A123 Systems and purification company Advanced Electron Beams.

There’s also the pot at the end of the rainbow: a GE acquisition. Fludder pointed out that GE developed most of its clean water business through acquisitions. This year, Fludder said it will keep the flow of acquisitions going. “We’re as hungry as we’ve always been,” he added.

  1. [...] General Electric has become a green VC, channeling money from its Ecomagination unit into all kinds of clean-tech operations, at Earth2Tech: “We’re as hungry as we’ve always been,” GE says. Now that energy-efficiency proponents have won the stimulus lottery, the trick will be to identify all the buildings that need to be overhauled, in the NYT. [...]

    Share
  2. I don’t really agree that obtaining funds from GE is “like “winning the lottery.” Large commercial investors like Intel Capital and GE often have diverging interests as the company grows, and it’s not unheard of that corporate investors will block a later round of financing when the interests of the parties are no longer aligned.

    Share
  3. Good point, though in such a difficult capital market companies would be really happy to get those funds.

    Share
  4. [...] GE’s Ecomagination unit gets plenty of attention for its push into “green energy,” and the conglomerate is the biggest U.S. maker of wind turbines. It’s also leading the charge into new energy technology like the smart grid. But old energy is just as important for GE, from U.S. oil and gas production to oil-fired power plants in Saudi Arabia. [...]

    Share
  5. vaime ra magariaaaaaaaaaaaaaaaaaaaa

    Share

Comments have been disabled for this post