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3 Giants Launch Venture to Fund Energy Tech Startups

GE, Conoco­Phillips and NRG Energy have partnered to create a venture to invest $300 million in early-stage energy technology firms. The partnership, Energy Technology Ventures will help fund 30 companies over the next four years, focusing on investments in North America, Europe and Israel. Target technologies will include renewable power generation -- an area where GE is already busy -- as well as smart grid technology, energy efficiency, oil, natural gas, coal and nuclear energy, emission controls, water and biofuels.

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