ShareThis Page
Business

GE Puts Up $200 Million in Power Grid Idea Challenge

| Wednesday, July 14, 2010

General Electric Co. called for entries in a 10-week contest to speed global power-grid upgrades, promising investment and marketing help for the best submissions from a $200 million fund.

CEO Jeffrey Immelt, is seeking ideas to tap into what the Electric Power Research Institute estimates is a $200 billion market for smart-grid technologies in the next decade. GE is spending about $10 billion on environmentally friendly products by 2015 through his five-year-old "ecomagination" program.

"We want to accelerate the process," Immelt said Tuesday. "We want to make GE really the go-to brand both from a customer and entrepreneurial standpoint."

GE is the world's biggest maker of jet engines, locomotives and power-plant turbines.

TribLIVE commenting policy

You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.

We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.

While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.

We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers

We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.

We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.

We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.

We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.

click me