GE and its funding partners will invest $63 million in 10 innovative home energy technology companies.
The investment is the second round of funding as part of the $200 million “GE ecomagination Challenge” to find better ways to use, manage and conserve energy. The second phase, “Powering Your Home,” was launched in January.
So far, GE and its partners have invested or committed to invest $134 million in the home energy and power grid technology developers announced as winners of its Innovation Challenge. The challenge has also produced 22 new commercial partnerships and resulted in the acquisition of FMC-Tech, a smart-grid technology company spotlighted during the first phase.
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