GE ecomagination CEO Series: Energy Technology Ventures
May 9, 2013 12:45 PM ET
Listen in as host Robert Reiss is joined by Kevin Skillern of GE Energy Financial Services, Rich Germain of ConocoPhillips and Sumit Sarkar of NRG Energy. They’re discussing a new joint venture among GE, ConocoPhillips and NRG Energy called Energy Technology Ventures, created to invest in next-generation energy technologies. Beyond capital, with the resources of three of America’s largest energy companies, this joint venture will help innovative companies accelerate the commercialization of new technologies and achieve the scale needed to benefit energy users, the economy and the environment.
“We want something that has the power to transform our [energy] business,” says Sumit Sarkar of NRG Energy. “We know it’s out there. We need to be aware of it and be ready to adopt it once it does come along.”
“We want something that matters,” adds Kevin Skillern of GE. “We’re not just looking for a small financial return. We want something that can matter at the scale of substance.”
With $300 million in capital, Energy Technology Ventures is thinking big. During the next four years, the joint venture will invest in 30 emerging energy technology companies.