Ge and others jointly announced to invest US $200m

Ge and others jointly announced to invest $200million in the world to promote the development of electric technology

San Francisco, California, USA July 13, 2010 Ge (New York Stock Exchange: GE) today announced an open innovation challenge plan with an investment of $200million, seeking breakthrough ideas, creating a more intelligent, cleaner and more efficient power network, and accelerating the promotion of more efficient electric technology. Jeff Immelt, chairman and CEO of Ge, unveiled the plan called Ge green creative challenge: making electricity stronger

this global challenge invites technical experts, entrepreneurs, start-ups and others to share their best ideas, and work together to accept one of the world's most thorny challenges to create a new generation of electricity to meet the needs of the 21st century. This challenge is unprecedented. It has been released on GE's green imagination station

to change the way we manufacture, transmit and use electricity, we need to participate in a global event with innovation as the engine. Immelt said that at GE, our investment in digital energy solutions is extensive and in-depth, and we regard it as a huge market. But we can't do it alone. We hope to work with our partners to ensure that we can provide comprehensive digital energy solutions. This challenge focuses on cooperation. We will invite all parties to join us to help accelerate the creation of a cleaner, more effective and economically viable electricity. We want to start new ideas quickly, apply them on a large scale, and modernize the world's electricity

this challenge plan was jointly initiated by GE and leading venture capital companies emerald technology ventures,

foundation capital, Kleiner Perkins Caufield Byer and Rockport capital, as well as Chris Anderson, editor in chief of Wired magazine. It is part of GE's green vision initiative. The Ge green initiative is committed to creating innovative clean energy technologies and funding the most promising innovative ideas. This challenge competition solicited proposals in three broad areas: renewable energy, electricity and ecological home, national major science and technology projects, and the national 973 Plan also deployed a number of major projects/ecological buildings. Participants will get the following opportunities to develop business cooperation with Ge:

Investment: Ge and its partners have a capital commitment of up to $200million, invest in promising start-ups and ideas around the world

verification: evaluate the participants' business strategies through in-depth discussions with GE technology and business team

promotion: explore opportunities to become partners with Ge, and improve business scale, Expand the global market

R & D: it is also a qualified supplier of Airbus, COMAC, AVIC and Bombardier. With the help of GE's technical facilities and the strength of GE's global R & D center, it will accelerate the growth of technology and product development

explore the opportunity to use GE's existing customers and push challenging products to the market.

the commitment of $200million will provide opportunities for participating companies and individuals, Get development funds from GE and/or venture capital companies involved in the program to help bring new ideas to market. The competition is open to all individuals aged 18 or older and all legally established entities

Beth Comstock, GE's chief marketing officer, said: we were challenged when we launched green vision five years ago. We understand that to develop clean energy solutions, people will gather firewood and the flame will be high. The challenge plan announced today is about cooperation, to put wings on fledgling ideas and enterprises, and jointly change our energy future. We are full of confidence in people's desire to change the way the world uses energy and make their dreams come true

smart electricity is a new platform and market that has just been developed. Good ideas about how to do it may come from all directions. Therefore, the purpose of this competition is to mobilize as many innovators as possible, from large companies to entrepreneurs to students. Anderson, the consultant of this challenge plan, said so

during the 10 week competition, contestants can submit their ideas through GE's green imagination station. All submitted projects will be evaluated as possible business partners in the future; At the same time, outstanding innovative enterprises and innovative projects may also receive a $100000 Innovation Challenge bonus

candidates for future business partnerships with Ge will be evaluated by a committee composed of Ge business representatives and challenge plan partner companies. In addition, an independent jury, including chrisanderson, Ge executives, and top scholars and technical experts, will also advise candidates for business cooperation and select five winners of the $100000 Innovation Challenge Award. The general public can also review and evaluate the entries, and support the ideas they think can have a great impact on the future of smart electricity. For details of all relevant regulations, please visit the station

it is crucial to upgrade the aging world's power facilities to a modern level, which can meet the growing demand for electricity, support more renewable energy, and improve energy efficiency. Fully intelligent electricity can improve energy efficiency and reduce carbon emissions in the United States. Through the management of new energy, we can further reduce emissions, make full use of existing assets, and support thousands of new jobs

the modernization of the global transmission and distribution system can not keep up with the growth of the demand for clean and highly reliable electricity in today's society. Gina Domanig, executive partner of venture capital firm emerald technology ventures, said that the innovation of smart electricity has always been the focus of our investment in the past 10 years. We are pleased to be a partner in GE's green vision challenge program

Kleiner Perkins Caufield Byers is committed to a sustainable energy environment and strives to reduce the world's dependence on fossil energy through our innovative green technology company. Kleiner Perkins caufie can add accessories for testing according to the corresponding standards. Ray lane, executive partner of LD Byers, said that we believe that smart electricity is an information technology hub that can accelerate the large-scale development of energy innovation. Kleiner Perkins is proud to participate in the Ge green creative challenge program. We will work closely with GE and other investment partners to help commercialize the best innovative technology of smart electricity