GE & Venture Capital Partners to Invest $55 Million in New Technology
Posted by Glenn Gaudet on Tue, Nov 16, 2010 @ 10:56 AM
GE Investments Increase Market Share in $20 Billion Power Grid Technology Market.
GE has formed and accelerated a dozen new partnerships to date with entrants to develop and commercialize technologies vital to helping build the next-generation power grid. These technologies include energy storage, utility security, energy management software and electric vehicle charging services. GE expects these markets to grow rapidly into a $20 billion opportunity by 2015.
These partnerships include:
JouleX, Atlanta, GA (Energy Management Systems and Software)
JouleX provides a single, network-based, energy-management solution. The JouleX Energy Manager monitors, analyzes and automatically adjusts the energy usage of a network's connected devices and systems. It has the potential to reduce energy consumption by 30-60 percent. It will enhance GE's data center solutions to help customers reduce energy consumption in the data center. In addition, the technology will enhance Demand Response Management System capabilities in GE's Digital Energy business.
Read the full story here.