SynapSense Corporation Partners With GE For The GE ecomagination Challenge
GE and its venture capital partners today announced a collective investment of $55 million in leading power grid technology companies as part of the $200 million “GE ecomagination Challenge.” This is the first of several rounds of innovation funding planned by GE and its venture capital partners as part of the Challenge, a global commitment to accelerate the development and deployment of power grid technology through open collaboration.
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.