GE Invests in New Solar Technology

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GE Invests in New Solar Technology

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#GE and partners back #solar tech startup 1366 Technologies http://3bl.me/8hbe7m #green #cleantech

Summary

LiveWire blogs about GE's multi-million dollar investment partnership in 1366 Technologies, a Lexington, Massachusetts-based company whose mission is to make the cost of solar power competitive with coal power. The company has developed a new process to create silicon wafers for photovoltaic (PV) panels, which reduces the cost of manufacturing solar panels by 65% and conserves 50% of silicon raw material.

Monday, March 14, 2011 - 11:00am

CAMPAIGN: Energy at GE

CONTENT: Blog

GE Energy Financial Services and VantagePoint Venture Partners have joined North Bridge Venture Partners, Hanwha Chemical and Ventizz Capital Partners in an $8.4 million extension of a $20 million funding round backing 1366 Technologies, Lexington, Mass., which has developed a radically new process to create silicon wafers for PV panels. 1366 Technologies’ process reduces the current cost of manufacturing solar panels by 65 percent.

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GE (NYSE: GE) is an advanced technology, services and finance company taking on the world’s toughest challenges. Dedicated to innovation in energy, health, transportation and infrastructure, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.
 
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Keywords: Energy | GE | GE Capital | Solar Energy | environment | silicon raw material | solar power

CAMPAIGN: Energy at GE

CONTENT: Blog