Meanwhile Energy Technology Ventures has its own energy tech portfolio, of which in 2009, Foro Energy “received one of the largest of the Department of Energy’s coveted ARPA-E grants with $9.1 million.” Amongst others that stand out besides 1366 Technologies, is Hara, “a company that sells software to help businesses measure and reduce their greenhouse gas emissions,” which is not only another Doerr investment (profiled in my 2010 Green Corruption series), but like many of these green firms, their massive payoff will come once mandates and regulations –– like cap-and-trade or a carbon tax –– are in place.
Further in 2009, Silver Spring Networks and GE joined forces with ComEd, a subsidiary of Chicago-based Exelon Corp., for the Advanced Metering Infrastructure (AMI) pilot program. In October 2009, ComEd was up for a $5 million DOE stimulus grant, and had applied for $175 million in ARRA federal stimulus for their AMI pilot project. It was confirmed that the AMI project was "initially funded by [the] $5 million DOE stimulus grant" and that additional federal funding was also received; yet the exact amount is unknown at this time.
Besides Exelon making it on that "top Obama contributors list," in August of 2011, they were the recipient of a $656 million loan for the Antelope Valley Solar Ranch, one of the non-investment grade loans listed in the House investigation. It must be a Chicago thing, because as of July 2011, Frank Clark then CEO of the ComEd unit (their chief state lobbyist) had raised between $50,000 and $100,000 for President Obama and the DNC for 2012, marking Mr. Clark as an Obama bundler for both campaigns. However there is an even more complex Obama, Exelon story to share that includes Clark, Exelon CEO John Rowe as well as other high-profiled Democrats –– Obama's former chief of staff, Rahm Emanuel and chief political strategist, David Axelrod –– uh, and more stimulus money. But again, I digress...
More GE "Green" Awards
Now, if you spend some time at energy.gov or snooping around any of the energy-trade magazines and news, you'll find more taxpayer funded GE "green awards." However, with a team of investigators, I'm confident much more would be discovered.
- June 2010: South Carolina Recovery Act Memo –– "General Electric Gas Turbines, LLC, based in Greenville, was awarded a clean energy tax credit for $26.9 million to manufacture heavy-duty gas turbines."
- July 16, 2009: "DOE Announces Nearly $14 Million to go to 28 New Wind Energy Projects, including $12.8 million in Recovery Act funds" and General Electric's Wind Turbine Manufacturing Process Monitoring (Niskayuna, NY) was awarded $697,769.
- July 20, 2010: "DOE Announces $30 Million for Energy-Efficient Housing
Partnerships...and the following is a brief description of the selected teams, of which will each receive between $500,000 and $2.5 million depending on their performance." General Electric is on the Building Industry Research Alliance (BIRA) team.
- July 29, 2009: "DOE Announces Awards for up to $11 Million for New Solar Energy Grid Integration Systems (PVPowered will partner with Portland General Electric)," and the DOE cost share is up to $3 million.
- October 2010: "Department of Energy Announces Third Grant for U.S.-China Clean Energy Research Center," whereas "$12.5 million will be given over the next five years to lead a consortium on energy-efficient building technologies under the U.S.-China Clean Energy Research Center (CERC)," of which GE is part of.
- August 2011: GE won $1.3 million DOE funding for Carbon Capture R&D
- December 2011: GE won $10 million in DOE funding for a smart grid project in the town of Lessburg Florida
- December 2011: GE Global Research in Niskayna, New York was awarded $1.36 million grant to improve the efficiency of EV’s
- And so on...
Yep, GE is making bank off "green" –– over $3 billion, and counting, adding them to that "elite green society," along with some of their co-conspirators and cohorts like NRG Energy, Kleiner Perkins, The Westly Group, Google, VantagePoint Ventures, Goldman Sachs, Big Oil, Big Banks, and others.