GE joins MIT Energy Initiative to develop advanced technology solutions for transforming global energy systems
The MIT Energy Initiative announced today that GE will be joining MITEI as a Sustaining Member to fund advanced technology solutions to help transform global energy systems. GE will commit a total of $7.5 million over a five-year period ($1.5 million annually) and play an active role in MITEI’s research and project priorities. Specifically, GE will participate in four of MITEI’s Low-Carbon Energy Centers to advance research and development in key technology areas for meeting future energy needs: solar energy; energy storage; electric power systems; and carbon capture, utilization, and storage. “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...