Carbon Trust partnership with GE to accelerate European clean technology growth.
The Carbon Trust worked with GE to identify and evaluate early stage low carbon technology companies in Europe. The initial 18 month phase, from February 2012, consisted of a $5 million fund targeted at new low carbon technologies in the area of infrastructure applications. The most promising companies received incubation support and investment.
This partnership formed part of the $200 million GE ecomagination Challenge, a global open innovation initiative with venture capital partners that launched in 2010 to find and fund the best ideas around cleantech technology.
According to GE's Innovation Barometer, which polled 2,800 businesses across 22 markets globally, the majority of UK companies surveyed saw innovation as fundamental to the future health of the UK - both economically and socially - but that sufficient triggers are not in place to stimulate and encourage it.
Read more on the GE Carbon Trust partnership in the press release:
Read more on how the Carbon Trust helps clean tech ventures to grow with clean technology incubation and venture support.
GE sees the business benefit but also the potential these new technologies offer in delivering overall economic growth and improved resource efficiency.
Mark Elborne, GE UK Chief Executive