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
|Light bulb ban set to take effect|
|Ford set for most aggressive expansion in 50 years|
|Military retirees: You betrayed us, Congress|
|Military families worry about skyrocketing grocery bill|
|Twitter restores blocking function after outcry|