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Several companies, such as General Electric have decided to invest $63 million more to startup ventures that are going into the clean energy format. This was recently announced early this week, that the company will give more opportunities to people to be able to be given more access to capital to improve the environment.
As part of GE's continuing "ecomagination challenge", they are looking into more areas such as solar thermal systems and LED lighting that will focus on less energy use in your home, or much higher efficiency in the way things are currently being done. This program will look into many business plans, up to thousands, that are being proposed to the company. They will fund the proposals that look most feasible, and will support their business plans.
These investments are targeting for the innovative methods to technology to be able accelerated, so that they are able to reach the commercial state faster, with the support of the monetary efforts of GE and its partners. After these have been proven successful, GE will partner with Best Buy Co. Inc., the world's largest consumer electronics chain. This agreement will be able to further speed up the ability and access of these new technologies with the public.
When they are able to make these inventions more accessible to the people, it will speed up the revenue process, and will also be able to inform many people and give them the opportunity to purchase the products, and implement them in their lives as well.
Energy saving and energy reduction products will be accessible to the general public through Best Buy store by 2012. The products that consumers can expect are control devices for the home as well as some air conditioning control systems that will be energy efficient for home use. Always stay up to date about the latest Best Buy coupons available here.
Venture Capital firms that have currently tied up with GE are companies such as Kleiner Perkins Caufiel, RockPort Capital and many others that are will grant up to $100,000 to winners of innovation contests, that are open to even students. They will target renewable energy projects and solar windows. About 67% of the 200 million will go to these kinds of projects and investments.
Back in 2010, there was an Irish smart-grid company FMC-Tech that was purchased by GE. No amount was disclosed immediately, but this deal is expected to close by later this year.
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