• 35 mins Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 18 hours Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 19 hours Oil Gains Spur Growth In Canada’s Oil Cities
  • 20 hours China To Take 5% Of Rosneft’s Output In New Deal
  • 20 hours UAE Oil Giant Seeks Partnership For Possible IPO
  • 21 hours Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 22 hours VW Fails To Secure Critical Commodity For EVs
  • 23 hours Enbridge Pipeline Expansion Finally Approved
  • 24 hours Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 1 day OPEC Oil Deal Compliance Falls To 86%
  • 2 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 2 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 2 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 2 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 2 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 2 days Aramco Says No Plans To Shelve IPO
  • 5 days Trump Passes Iran Nuclear Deal Back to Congress
  • 5 days Texas Shutters More Coal-Fired Plants
  • 5 days Oil Trading Firm Expects Unprecedented U.S. Crude Exports
  • 5 days UK’s FCA Met With Aramco Prior To Proposing Listing Rule Change
  • 5 days Chevron Quits Australian Deepwater Oil Exploration
  • 5 days Europe Braces For End Of Iran Nuclear Deal
  • 6 days Renewable Energy Startup Powering Native American Protest Camp
  • 6 days Husky Energy Set To Restart Pipeline
  • 6 days Russia, Morocco Sign String Of Energy And Military Deals
  • 6 days Norway Looks To Cut Some Of Its Generous Tax Breaks For EVs
  • 6 days China Set To Continue Crude Oil Buying Spree, IEA Says
  • 6 days India Needs Help To Boost Oil Production
  • 6 days Shell Buys One Of Europe’s Largest EV Charging Networks
  • 6 days Oil Throwback: BP Is Bringing Back The Amoco Brand
  • 6 days Libyan Oil Output Covers 25% Of 2017 Budget Needs
  • 6 days District Judge Rules Dakota Access Can Continue Operating
  • 7 days Surprise Oil Inventory Build Shocks Markets
  • 7 days France’s Biggest Listed Bank To Stop Funding Shale, Oil Sands Projects
  • 7 days Syria’s Kurds Aim To Control Oil-Rich Areas
  • 7 days Chinese Teapots Create $5B JV To Compete With State Firms
  • 7 days Oil M&A Deals Set To Rise
  • 7 days South Sudan Tightens Oil Industry Security
  • 8 days Over 1 Million Bpd Remain Offline In Gulf Of Mexico
  • 8 days Turkmenistan To Spend $93-Billion On Oil And Gas Sector
Alt Text

Tesla Execs Bail As Cash Flow Hits Record Lows

Amid a rough second quarter…

Alt Text

Chinese EV Boom Could Crash Oil Prices

Most oil majors acknowledge that…

Alt Text

Richard Branson To Invest In Elon Musk’s Hyperloop One

Britain’s Virgin Group boss has…

Mark Nicholls

Mark Nicholls

Mark is a writer for Environmental Finance. Environmental Finance is the leading global publication covering the ever-increasing impact of environmental issues on the lending, insurance,…

More Info

Conoco, GE and NRG Invest $300m in Game Changing Energy Technologies

Three US corporate giants have committed $300 million to an energy technology investment company to fund “potentially game-changing technologies”.

GE Capital, the investment arm of GE, power generator NRG Energy and oil and gas firm ConocoPhillips are backing Energy Technology Ventures, which aims to fund around 30 venture- and growth-stage companies over the next four years.

The company will focus on renewable power generation, smart grid, energy efficiency, oil, natural gas, coal and nuclear energy, emission controls, water and biofuels, primarily in North America, Europe and Israel. It will seek to take “significant minority investments”, a spokesman said.

It has announced its first investments: solar photovoltaic materials firm Alta Devices, coal-to-methane company Ciris Energy, and advanced biofuels firm CoolPlanetBioFuels.

The three partners have “complementary capabilities and significant strategic interests in the development of next-generation energy technology”, they say, and will help start-ups develop and commercialise their technologies.

“Partnering with major energy companies such as NRG Energy and ConocoPhillips enables us to pool our financial resources and technological expertise – along with our extensive relationships – to provide more than money to emerging energy technology companies,” said Kevin Skillern, leader of venture capital at GE Energy Financial Services.

His team has invested about $200 million in 27 early- and growth-stage energy-related technology companies since January 2006, including four that have gone public: battery company A123 Systems, Codexis, power technology firm Orion Energy Systems and wind turbine component maker China High Speed Transmission.

Meanwhile, the venture is the first corporate investment programme by both ConocoPhillips and NRG Energy.

By. Mark Nicholls

Source: Environmental Finance




Back to homepage


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News