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GE, which you would think sponsors us given the large number of articles we've written about it this week (it doesn't), recently announced that it is buying one of the top contenders in its Ecomagination Challenge. FMC-Tech, a company based in Ireland that provides real-time power line monitoring to help with quicker commercialization of power grid technology, is the company about to get bought out by GE.

Green Economy

GE Buying One of Its Ecomagination Challenge Contestants

GE, which you would think sponsors us given the large number of articles we’ve written about it this week (it doesn’t), recently announced that it is buying one of the top contenders in its Ecomagination Challenge. FMC-Tech, a company based in Ireland that provides real-time power line monitoring to help with quicker commercialization of power grid technology, is the company about to get bought out by GE.

ge ecomagination challenge

GE, which you would think sponsors us given the large number of articles we’ve written about it this week (it doesn’t), recently announced that it is buying one of the top contenders from its Ecomagination Challenge. FMC-Tech, a company based in Ireland that provides real-time power line monitoring to help with quicker commercialization of power grid technology, is the company about to get bought out by GE.

“With the acquisition of FMC Tech’s portfolio, GE will be able to provide a new level of grid intelligence to utilities, improving decision-making and streamlining operations with real-time information on power outages and available capacity on power lines,” said Bob Gilligan, CEO of digital energy at GE Energy Services. “Utility operators can better balance the load by managing capacity and optimizing the amount of power sent through a line. Maintenance and repair crews can be more effectively dispatched for increased productivity, improved reliability and greater customer satisfaction.”

The acquisition is projected to be completed in July. All FMC-Tech employees will remain in Shannon, Ireland and work for GE’s Energy Services’ Digital Energy Smart Substation business.

Want a little more info on FMC Tech? Here’s more from GE:

FMC-Tech solutions are a key component of a utility’s distribution automation system that provide information on locating faults, providing dynamic line ratings and help manage maintenance and repair crews. The system is designed to easily integrate with supervisory control and data acquisition(SCADA), energy management systems (EMS) and demand management systems (DMS)/outage management systems (OMS).

Related Stories:

  1. GE Ecomagination Challenge Got 2,400 Entries in 9 Weeks, 2 Weeks Left
  2. $200 Million for Your Smart Grid Ideas: GE Ecomagination Challenge
  3. GE: Solar Power Cheaper than Fossil Fuels in 5 years

Image Credit: Screenshot of Ecomagination Challenge: Powering the Grid

 
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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.

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