GE offers $200M fund for power projects

July 13, 2010 11:11:49 AM PDT
General Electric says it will pledge $200 million to fund new projects meant to create a more energy efficient and environmentally friendly power grid.

GE and three venture capital funds will solicit ideas from entrepreneurs, researchers and startups over the next 10 weeks. Awards will be announced in November.

GE has a large energy business, building everything from giant windmills to electric vehicle batteries. The company is also developing products for power companies and consumers to improve the nation's energy grid.