Start-up Energy Tech Companies Get a Boost

Start-up Energy Tech Companies Get a Boost

Start-up Energy Tech Companies Get a Boost

According to a recent announcement, some 30 emerging companies, specializing in the development and deployment of new energy production technologies, will be sharing in a $300 million venture capital investment.

The companies focus not only on alternative power such as wind, bio-fuels and solar, but also on improvements to existing technologies like nuclear, oil, coal and natural gas. Some of the companies receiving the financial boost are focused on improved efficiencies as well as improving the power grid system which delivers the generated power to homes and businesses.

The money for the start-up companies comes from a partnership created between, GE, NRG Energy and Conoco-Phillips. Through the partnership the three companies created a venture capital firm called Energy Technology Ventures. The partnership will give the three investors a minority stake in the emerging companies while still allowing companies the freedom to innovate and pursue their own direction.

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