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GE & Partners Announce $200 Million Global Commitment to Accelerate Power Grid Technology Through Open Collaboration

Date: 07/13/2010

Company: RockPort Capital

Source: Market Watch

SAN FRANCISCO, Jul 13, 2010 (BUSINESS WIRE) — –Joint investment with venture capital partners Emerald Technology Ventures, Foundation Capital, Kleiner Perkins Caufield & Byers and RockPort Capital

–Challenge is one of largest ever

GE (GE 15.26, +0.33, +2.21%) announced today a $200 million open innovation challenge that seeks breakthrough ideas to create a smarter, cleaner, more efficient electric grid, and accelerate the adoption of more efficient grid technologies. GE Chairman and CEO Jeff Immelt unveiled the challenge, the “GE ecomagination Challenge: Powering the Grid,” here today.

The global challenge invites technologists, entrepreneurs and start-ups to share their best ideas and come together to take on one of the world’s toughest challenges – building the next-generation power grid to meet the needs of the 21st century. The challenge is one of the largest ever and is open immediately atwww.ecomagination.com/challenge.

Read full story at Market Watch

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