Three major American energy corporations -- GE (NYSE: GE), NRG Energy, Inc. (NYSE: NRG) and ConocoPhillips (NYSE:COP) joined forces in 2011 to form Energy Technology Ventures (ETV) and become the premier investor and commercial collaboration partner for emerging and innovative energy technology companies. Over the last four years ETV funded 19 venture and growth-stage companies to accelerate emerging energy technology.
Energy Technology Ventures has invested in energy technology companies in the renewable power generation, smart grid, energy efficiency, oil, natural gas, coal, emission controls and biofuels sectors, primarily in North America, Europe and Israel.
Now that the investment period is complete ETV will focus on growing their portfolio companies. Going forward and as planned NRG Energy, ConocoPhillips, through its ConocoPhillips Technology Ventures, and GE Ventures each have the capabilities to invest in new companies directly.