GE Commits $7.5 Million to Low-Carbon Tech, Joins MIT Energy Initiative
General Electric is joining Massachusetts Institute of Technology’s energy research hub and donating $7.5 million to its efforts to develop low- and no-carbon energy technologies.
“The world will need 50 percent more power in the next 20 years,” said Steve Bolze, president and CEO of GE Power, in a statement. “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.”
Several GE customers are also members working with the initiative, including EDF, Exelon Corporation and Duke Energy.
The announcement comes as GE is moving its global headquarters Boston — part of GE’s corporate makeover as it focuses on becoming what chief executive Jeffrey Immelt calls a “digital industrial company.” Relocating to Boston puts GE closer to key universities, startups and other resources that can help GE develop more advanced machines.
Also in recent months, GE has been investing hundreds of millions of dollars into advanced manufacturing centers that use technologies and digital platforms including 3D printing, data analytics, connected devices and robotics to make manufacturing more efficient and sustainable.
In April, GE opened a $60 million advanced manufacturing facility in Clearwater, Florida, that will produce instrument transformers and capacitors.
The same month GE opened its Advanced Manufacturing Works center in Greenville, South Carolina investing $73 million in the facility to date with plans to invest another $327 million across the GE Power Greenville campus over the next several years. The company also in April opened a $39 million hub for additive manufacturing — or 3D printing — near Pittsburgh.
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