New York – General Electric Co., NRG Energy Inc. and ConocoPhillips are forming a new joint venture and have committed $300 million to develop new energy technologies.
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The companies said Thursday they’re aiming for the new joint venture, Energy Technology Ventures, to fund about 30 companies over the next four years. The first investments will be made in companies that produce solar cells, cleaner coal technologies and biofuels.
This is the first corporate tie-up for NRG Energy, one of the country’s largest utilities and ConocoPhillips, the third-largest US integrated oil and gas company. GE Capital, through its business units GE Energy Financial Services and GE Capital Equity, already invests in a wide range of technologies and projects.
Energy Technology Ventures will invest in technology companies mostly in North America, Europe and Israel.
Energy technology and production may be the next big “high tech” sector for the Israeli economy. What I’ve never understood is why the chareidi community does not become more involved in these growing economic sectors and look for ways to get a parnassah for their growing numbers. Obviously, we cannot have everyone learning all day, even in z’man moishiach. There will have to be some people “making things”, producing the products even the chareidi need, providing services etc. Its a basic impossibility for EVERYONE to be a learner and none to be working to provide the basics of life.
Conoco is interested in Israeli plastic pipe/tube production. Some of the products have their made in Israel label removed and are being used in Arab countries, especially for irrigation. No. 1 when you work for a company you must adhere to a schedule and have a technical background. Backward schooling does not prepare for GE or Conoco. Don’t forget freebies are still coming from the treifene government.