• 2 hours UK Offers North Sea Oil Producers Tax Relief To Boost Investment
  • 4 hours Iraq Wants To Build Gas Pipeline To Kuwait In Blow To Shell
  • 6 hours Trader Trafigura Raises Share Of Oil Purchases From State Firms
  • 7 hours German Energy Group Uniper Rejects $9B Finnish Takeover Bid
  • 9 hours Total Could Lose Big If It Pulls Out Of South Pars Deal
  • 11 hours Dakota Watchdog Warns It Could Revoke Keystone XL Approval
  • 1 day Oil Prices Rise After API Reports Major Crude Draw
  • 1 day Citgo President And 5 VPs Arrested On Embezzlement Charges
  • 1 day Gazprom Speaks Out Against OPEC Production Cut Extension
  • 1 day Statoil Looks To Lighter Oil To Boost Profitability
  • 1 day Oil Billionaire Becomes Wind Energy’s Top Influencer
  • 1 day Transneft Warns Urals Oil Quality Reaching Critical Levels
  • 1 day Whitefish Energy Suspends Work In Puerto Rico
  • 1 day U.S. Authorities Arrest Two On Major Energy Corruption Scheme
  • 2 days Thanksgiving Gas Prices At 3-Year High
  • 2 days Iraq’s Giant Majnoon Oilfield Attracts Attention Of Supermajors
  • 2 days South Iraq Oil Exports Close To Record High To Offset Kirkuk Drop
  • 2 days Iraqi Forces Find Mass Graves In Oil Wells Near Kirkuk
  • 2 days Chevron Joint Venture Signs $1.7B Oil, Gas Deal In Nigeria
  • 2 days Iraq Steps In To Offset Falling Venezuela Oil Production
  • 2 days ConocoPhillips Sets Price Ceiling For New Projects
  • 5 days Shell Oil Trading Head Steps Down After 29 Years
  • 5 days Higher Oil Prices Reduce North American Oil Bankruptcies
  • 5 days Statoil To Boost Exploration Drilling Offshore Norway In 2018
  • 5 days $1.6 Billion Canadian-US Hydropower Project Approved
  • 5 days Venezuela Officially In Default
  • 5 days Iran Prepares To Export LNG To Boost Trade Relations
  • 5 days Keystone Pipeline Leaks 5,000 Barrels Into Farmland
  • 6 days Saudi Oil Minister: Markets Will Not Rebalance By March
  • 6 days Obscure Dutch Firm Wins Venezuelan Oil Block As Debt Tensions Mount
  • 6 days Rosneft Announces Completion Of World’s Longest Well
  • 6 days Ecuador Won’t Ask Exemption From OPEC Oil Production Cuts
  • 6 days Norway’s $1 Trillion Wealth Fund Proposes To Ditch Oil Stocks
  • 6 days Ecuador Seeks To Clear Schlumberger Debt By End-November
  • 6 days Santos Admits It Rejected $7.2B Takeover Bid
  • 7 days U.S. Senate Panel Votes To Open Alaskan Refuge To Drilling
  • 7 days Africa’s Richest Woman Fired From Sonangol
  • 7 days Oil And Gas M&A Deal Appetite Highest Since 2013
  • 7 days Russian Hackers Target British Energy Industry
  • 7 days Venezuela Signs $3.15B Debt Restructuring Deal With Russia
Alt Text

The Hidden Cost Of Electric Cars

As countries across the globe…

Alt Text

Is Tesla’s E-Truck A Game Changer For Energy Markets?

Tesla’s E-truck is a potential…

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

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