![]() PingThings, which combines big-data and its innovative machine-learning solution for physical systems to transform the management of electric utility grid and high-value industrial assets.HealthReveal, which uses AI-based clinical analytics platform and evidence-based clinical models to predict adverse events, identify major avoidable chronic disease complications, and recommend interventions to optimize care and related costs.Grid Net, an operating system that enables machine-to-machine applications.It has been in conversations with other venture firms as well as groups of limited partners who invest in those funds, with investment bank Lazard reportedly handling the process. The group’s 100+ venture holdings have been for sale since early 2019. It was an effort to consolidate GE’s various startup investments which span sectors ranging from healthcare to renewable energy. ![]() GE Ventures was created in 2013 by Sue Siegel, who serves as GE’s chief innovation officer and CEO of the GE Ventures arm. So what happened with the electric industry titan that is forcing it to scramble for financial stability after accruing a staggering $110 billion in debt and why is its cleantech startup arm flailing? Image credit: Pixabay GE Power equipment produces one third of the world’s electricity, equips 90% of power transmission utilities worldwide, and manages more than 40% of the world’s energy. It is an industrial conglomerate, with material operations in the power turbines, aviation, and healthcare industries that operate in more than 180 countries around the world. GE Power provides equipment, solutions, and services across the energy value chain from generation to consumption. The move comes as part of a broader restructuring effort by GE in a bid to reign in a debt problem that has spiraled out of control in recent years. GE is reportedly looking to sell off GE Ventures and its portfolio of more than 100 start-ups. How has “ investing in the new Industrial Revolution” worked out so far for GE? If the lack of success with its venture arm is any indication, not so great. Sign up for daily news updates from CleanTechnica on email.
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