GE to Collaborate on G-CEP Development Project

November 19, 2002 by Jeff Shepard

General Electric Co. (GE, Fairfield, CT), ExxonMobil and Stanford University announced an unprecedented, multi-million dollar, collaborative energy research project, called the Global Climate and Energy Project (G-CEP), which will identify and develop alternative and next-generation energy technologies.

Energy sources that will be researched involve a wide array of technologies, including advanced transportation systems; the production, distribution and use of hydrogen and biomass fuels; geoengineering; combustion; power storage; and renewable energy sources such as wind and solar.

The total investment for the project is up to $225.0 million over the next 10 years, with $50.0 million being invested by GE, and up to $100.0 million from ExxonMobil.