Conglomerate invests money - and its considerable resources - in young energy firms.
By Marc Gunther, contributing editor
That's because A123 Systems is by far the biggest holding of a venture capital fund run by GE that invests in energy startups. Over six rounds of funding, GE had invested $69 million in A123, which makes batteries for cars, trucks, buses, utilities and consumer products, like Black & Decker tools.
Today, GE is A123's biggest shareholder and its stake in the company is worth about $190 million.
With little fanfare, GE's venture fund has been investing in a broad variety of energy startups since 2006. Most of the investments are small—so far, GE has invested about $160 million in 20 companies. More
|Inside the underground sex economy|
|NJ agrees to ban Tesla direct sales|
|West prepares sanctions against Russia over Ukraine|
|Five predictions for the World Wide Web that were way, way, way off|
|The Deep Web you don't know about|