GE commits with MITEI on $7.5m clean energy research contract
The MIT Energy Initiative will be partnering with GE to fund the development of advanced technology solutions for global energy systems.
It was announced today that General Electric (commonly known as GE), will be teaming up with the MIT Energy Initiative to research and develop new global energy technologies to meet future energy demand.
The multinational conglomerate corporation will work alongside the initiative in four of MITEI’s Low-Carbon Energy centres to develop technology in the areas of solar energy, energy storage and electric power systems.
“The world will need 50 percent more power in the next 20 years,” says Steve Bolze, president and CEO of GE Power.
“GE and MITEI are proud to be working together to find new solutions to develop cleaner, more affordable and accessible energy solutions that will address this need. Together we’ll be able to leverage our collective capabilities, research, and technology solutions to help improve efficiency while reducing the impact of electricity generation on the environment.”
GE will also be sponsoring MITEI’s research programs, whilst providing funding for MITEI’s Seed Fund and taking part in various conferences and learning opportunities throughout the year.
“GE’s support as a Sustaining Member and engagement in MITEI’s Low-Carbon Energy Centers will be extremely valuable in spurring further technology advancements to address complex energy and climate challenges — areas where GE’s wealth of expertise and history of developing solutions dovetail with MIT’s research,” says Robert Armstrong, director of MITEI. “We are excited to welcome GE and launch this relationship.”
GE’s recent move to Boston, Massachusetts also has a part to play in the development of new clean energy technologies. GE chose to move its headquarters to Boston due to the increased opportunities for innovation, talent and infrastructure that the region has to offer. Boston also has a strong ecosystem of universities, companies and R&D organizations.
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