GE Awards First Ecomagination Millions to Smart Grid Firms
GE handed out the first of what will be $200 million in awards from its Ecomagination Challenge to companies making windows that automatically tint to keep buildings cool, heating systems that run on solar-powered hot water and other energy-efficient technologies developed with the smart grid in mind. Out of nearly 4,000 ideas submitted to the challenge, GE selected 12 companies that will be on the receiving end of $55 million. The challenge, which was open for 10 weeks, is aimed at speeding up the development and use of power grid technology around the world. In addition to investing in ideas, GE will work with winners on technology development, validation and distribution. The 12 companies GE is partnering with work on energy storage, utility security, energy management software, electric vehicle charging and other technologies that connect with power grids.
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