Connect with us

Hi, what are you looking for?

CleanTechnica

Biofuels

GE, Conoco, NRG Put $300 Million More Towards Clean Energy

General Electric (GE) seems to be in the news almost everyday lately. The latest news regarding this cleantech leader is that it, ConocoPhilips and NRG Energy Inc. are putting $300 million into a joint venture investing in “next-generation energy technologies.”

Energy Technology Ventures is the name of the investment company. It will financially back approximately 30 startups in the next four years.

In addition to financial investment in these startups, it will also offer “commercial collaboration opportunities.”

Working in coordination with ConocoPhilips and NRG Energy, large energy companies, “enables us to pool our financial resources and technological expertise – – along with our extensive relationships — to provide more than money to emerging energy technology companies,” said Kevin Skillern, managing director and leader of venture capital at GE Energy Financial Services.

Energy Technology Ventures will mostly support companies in North America, Europe, and Israel.

What Will Energy Technology Ventures Focus On?

This joint venture is reportedly going to put its focus on companies working on renewable energy, smart grid, energy efficiency, biofuels, oil, natural gas, coal, nuclear, emission controls, and water technologies. Hmm, doesn’t leave much out.

Its first investments are officially in:

  • Alta Devices, Santa Clara, CA, improving the production economics of advanced materials for high-efficiency, low-cost solar energy.
  • Ciris Energy, Inc., Centennial, CO, developing technology to biochemically convert coal to methane at large scale and low cost.
  • CoolPlanetBiofuels, Camarillo, CA, developing technology that converts low-grade biomass into high-grade fuel and carbon that can be sequestered.
  • Related Stories:

    1. GE Hates US Energy Policy Too
    2. Green Sparks Fly as GE and GM Boost Energy Efficiency
    3. China Clean Tech Industry Gets $2 Billion More from GE

    Photo Credit: @mjb

     
    Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

    Written By

    Zach is tryin' to help society help itself one word at a time. He spends most of his time here on CleanTechnica as its director, chief editor, and CEO. Zach is recognized globally as an electric vehicle, solar energy, and energy storage expert. He has presented about cleantech at conferences in India, the UAE, Ukraine, Poland, Germany, the Netherlands, the USA, Canada, and Curaçao. Zach has long-term investments in Tesla [TSLA], NIO [NIO], Xpeng [XPEV], Ford [F], ChargePoint [CHPT], Amazon [AMZN], Piedmont Lithium [PLL], Lithium Americas [LAC], Albemarle Corporation [ALB], Nouveau Monde Graphite [NMGRF], Talon Metals [TLOFF], Arclight Clean Transition Corp [ACTC], and Starbucks [SBUX]. But he does not offer (explicitly or implicitly) investment advice of any sort.

    Comments

    You May Also Like

    Climate Change

    Warmer temperatures in the Arctic are leading to the release of methane from limestone formations.

    Climate Change

    In recent days, now-houseless survivors of Oregon’s Bootleg Fire surveyed their incinerated communities, dozens huddled in a Colorado tunnel seeking shelter from a mudslide,...

    Clean Transport

    Originally published by Union of Concerned Scientists, The Equation. By David Reichmuth and Leslie Aguayo, a Climate Equity Program Manager from The Greenlining Institute Zero-emission vehicle...

    Bicycles

    In a recent post, I explained how micromobility (e-bikes, scooters, etc) gives state and local governments a much cheaper lever they can pull to...

    Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.