NEW YORK (AP) — General Electric Co. and its venture-capital partners say they will invest $63 million in 10 companies that provide technology such as energy-efficiency to the home.
GE said Thursday that the investment is the second round of funding in a $200 million competitive program it calls "ecomagination." This part is focused on powering homes.
The backing will go for concepts including solar, communications and building efficiency. The winning companies are from California, Massachusetts, Texas, Pennsylvania and the United Kingdom.
GE's partner investors include Emerald Technology Ventures and Kleiner Perkins Caufield & Byers. GE said the competition has generated nearly 5,000 submissions since July 2010.