Energy giants’ venture invests in emerging technology firms

GE, NRG Energy and Conocophillips are joining forces to become the premier investor and commercial collaboration partner for emerging and innovative energy technology companies.

The companies have committed $300m (£189m) in capital to the Energy Technology Ventures initiative, to fund approximately 30 venture and growth-stage companies over the next four years.

The first investments are in companies developing potentially game-changing technologies in solar photovoltaic (Alta Devices), cleaner coal (Ciris Energy) and non-food biofuels (Coolplanetbiofuels).