GE to Double Cleantech Investments: Venture capital investments to reach $50M a year by 2008

May 24 - Red Herring - GE plans to double its clean technology venture capital investments from $25 million this year to $50 million a year by 2008.

GE plans to make investments across the cleantech sector including solar, biofuels and batteries. In January GE led a $40 million investment round in A123Systems, a company developing lithium ion batteries for plug-in hybrid vehicles. Previous investments also include Scottish wave power company Ocean Power Delivery.

“Our goal is to invest as much as we can, provided that we can find opportunities at the right price,” said Kevin Walsh, Managing Director and leader of the renewable energy group at GE Energy Financial Services. Read More.