GE Joins $23 Million Funding for PV Company based in Israel

NISKAYUNA, N.Y. & HERZLIYA, Israel--(BUSINESS WIRE)--SolarEdge, whose technology increases solar power systems' output by up to 25 percent, announced today that GE (NYSE: GE - News) unit GE Energy Financial Services has joined a US$23 million funding round to support growth in residential and large-scale photovoltaic sites. SolarEdge's other investors are US venture capital leaders Opus Capital and Walden International, the Israeli funds Genesis Partners and Vertex Venture Capital, and the Singaporean fund JP Capital Asia.

In other news at GE Energy, the company also invested in Tendril, Boulder, Colo., which supplies communications equipment for the smart grid. Details