BIGS DO NEW ENERGY R&D

GE, NRG Energy, ConocoPhilips create green investment firm
January 28, 2011 (Restructuring Today)

"GE, NRG Energy and ConocoPhilips…[have formed] a financial partnership to promote emerging and innovative energy technologies. The three committed $300 million in capital to the new joint venture, Energy Technology Ventures, to fund about 30 venture- and growth-stage firms over the next four years…"

"The joint venture marks the first foray of NRG and ConocoPhilip into corporate venture investment. GE has been quite active in the field with various subsidiaries."

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"Energy Technology Ventures will focus on renewable power generation, smart grid, energy efficiency, oil, natural gas, coal and nuclear energy, emissions controls, water and the biofuels sector. Its main markets will be North America, Europe and Israel."

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"The first three investments have already been picked: Alta Devices works on solar photovoltaic technology, Ciris Energy on cleaner coal and CoolPlanetBioFuels on non-food biofuels.

"Alta is working to improve the production economics of advanced materials for high-efficiency, low cost solar energy. Ciris is focused on developing technology to biochemically convert coal to methane at a large scale and low cost."