General Electric Co. (NYSE: GE) is touting its new initiative for smarter power usage, which is from the power grid to plug-in electric vehicles, and a home energy command center.  More importantly, it is starting a $200 million venture fund that will be used to fund and partner with start-ups with new ideas in the field.  GE’s Jeff Immelt told us in our exclusive interview at GE’s annual meeting that the company sees big opportunities in battery technology.  This furthers that push.

The fund is focused toward the clean-tech researchers, entrepreneurs and start-ups that have some of the best ideas to transform creating, connecting, and using power.  Yes, this is an Ecomagination initiative.

The move is part of GE’s clean technology showcase, which also included two new smart grid product launches and what the company called “a host of innovations that are either deployed or in the pipeline.”

GE WattStation was debuted to help accelerate the adoption of plug-in electric vehicles, designed to significantly cut the time needed for charging. It will also allows utilities to better manage the impact of the vehicles on power grids.

GE also unveiled Nucleus, the company’s home energy command center.  This is only size of a cell phone, and can be used for communication between smart meters, smart appliances, and the household computer or smartphone.

A $200 million venture fund will not likely make a huge dent in the nation’s power troubles nor will it make a huge impact on GE’s finances.  What this will do is assure investors that GE has a shot of owning stakess in emerging cleantech power companies that will potentially be IPOs down the road or allow GE to profit from the power savings initiatives.

JON C. OGG

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