November 17, 2010 | last updated May 29, 2012 11:43 pm

GE awards $55M to energy companies

Fairfield-based General Electric and its venture capital partners on Monday awarded $55 million to a variety of energy start-up companies, including a utility security company in Westport.

The $55 million came out of GE's $200-million ecomagination challenge designed to boost and fund innovation and investment in the energy market.

Among the 12 recipients Monday was SecureRF Corporation in Westport. The company provides security for lower-powered embedded devices that will be used throughout the smart grid, which is a way to provide more accurate pricing and energy information to consumers.

Other recipients are in Ireland, North Carolina, Sweden, New York, Georgia, Virginia, California and New Hampshire with the companies specializing in efficiency, electric vehicles and software.

"We are working with these new partners to accelerate the development and deployment of these concepts on a scale that will help drive a cleaner, more efficient and economically viable grid," GE Chairman and CEO Jeff Immelt said in a statement. "The partnerships formed through this challenge represent a new way of doing business at GE as we continue to expand our broad digital energy offering in the growing power grid market."


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