GE has acquired Ireland-based FMC-Tech, which develops smart grid technology equipment providing real-time power line monitoring capabilities. The acquisition of Ireland-based FMC Tech will allow real-time power line monitoring capabilities and is GE’s latest smart grid investment in the United Kingdom and Ireland.
Representatives from the University of Maine, the House of Representatives, and utility companies discussed the benefits, opportunities, and challenges of the smart grid and energy conservation last week at the University of Maine’s Haskell Energy Conference.
General Electric and its venture capital partners will invest $63 million in 10 home energy technology companies in the second round of funding as part of GE’s $200 million ecomagination Challenge. Currently and its partners’ Challenge investments total around $134 million. Additionally, the Challenge has resulted in 22 new commercial partnerships and GE’s acquisition of FMC-Tech, a smart grid technology from the first phase.
According to industry experts, the modernization of the United States national power grid will cost up to $476 billion over the next 20 years. However, it will also provide up to $2 trillion in customer benefits over that time by saving energy, reducing costs, and increasing reliability.
GE is acquiring FMC-Tech, which provides real-time power line monitoring to accelerate the commercialization of power grid technology. Based in Ireland, FMC-Tech participated in GE’s 2010 ecomagination Challenge: Powering the Grid. The acquisition is expected to be completed in July.
GE reports that its newly developed full-size, thin film solar panel has been independently certified as the most efficient ever publicly reported. GE intends to manufacture the solar panels at a new United States based factory that will be the nation’s largest and is part of GE’s $600 million investment in solar technology and commercialization.
General Electric (GE) has been contracted to provide Masoneilan LincolnLog and SteamForm modulating steam control valves and auxiliary systems to Southern Company’s power plant in Kemper County, Miss. The 582-megawatt Integrated Combined Cycle (IGCC), owned and operated by Mississippi Power, will employ a high-efficiency process that uses lignite coal to generate electricity. The coal is converted to syngas which is used to fuel gas turbine-generators that drive downstream steam turbine-generators.
To improve power reliability for consumers, Massachusetts-based NSTAR Electric is deploying General Electric’s so called “self-healing” grid project throughout its service territory. GE’s smart grid technology automatically identifies the location of power outages, isolates faulted sections of the network, and then re-routes power from other sources. Thanks to the ability of the technology to fix, or heal, outages, the deployment of GE’s switch controllers is expected to reduce the number of customers affected by failures on main line circuits by half.
General Electric Energy Financial Services is joining Emerald Technology Ventures, Sequoia Capital, Robert Bosch Venture Capital, American River Ventures, Nth Power and DFJ Frontier in a $5 million investment for the development of SynapSense’s Data Center Monitoring, Adaptive Control and Energy Management technology.
PPL Electric Utilities has launched a smart grid project using GE’s distribution management system to control the status, performance, and interaction of equipment in order to minimize the frequency and duration of power outages. The project affects 60,000 consumers in south-central Pennsylvania.