GE, SynapSense create $5M investment on Smart Grid

Associated Press, 07.26.10, 01:10 PM EDT

STAMFORD, Conn. -- SynapSense Corp. and General Electric Co.'s financial arm creating a commercial partnership to focus on digital energy services, the Smart Grid and other ecological efforts.

GE Energy Financial Services will join SynapSense's investors - Emerald Technology Ventures, Sequoia Capital, Robert Bosch Venture Capital, American River Ventures, Nth Power and DFJ Frontier - in a combined $5 million investment.

The investment will be for the development and market expansion of SynapSense's technology for Data Center Monitoring, Adaptive Control and Energy Management.

GE will work with SynapSense, which is based in Folsom, Calif., on digital energy through a commercial partnership with GE Intelligent Platforms. That is a high-performance technology business that provides software, hardware, services, and expertise in automation and embedded computing.

Shares of GE rose 37 cents to $16.08 in afternoon trading Monday.