GE Commercial Finance is launching an initiative to provide financial solutions to companies focused on clean energy and related technologies. The initiative is a joint effort of GE Commercial Finance's Technology Lending and Energy Financial Services businesses.
Technology Lending, a unit of Global Media & Communications, provides debt financing to technology-related businesses, including emerging growth companies. Energy Financial Services provides financial products including structured equity, leveraged leasing, partnerships and project finance to companies throughout the energy industry.
The joint initiative combines the structuring and underwriting expertise of Technology Lending and the industry expertise of Energy Financial Services, to provide a full range of financing products and services to companies that deliver clean or renewable energy directly, or develop new technologies for cleaner and more efficient energy generation and distribution.
Among the key market segments are distributed generation, including fuel cells, solar/photovoltaics, wind and wave power technology, and biomass gasification; oil & gas, including ‘clean fuels’; pollution control technologies; transportation components, including motors; energy storage; energy related information technology; and transmission and distribution.
Market demand is spurred by the declining cost of energy from renewable sources as well as the increasing consumer awareness of ‘green’ energy generation, said Bill DeMars, managing director of Technology Lending. This market is poised for long-term growth and offers a significant opportunity to companies that lead in technological innovation and responsiveness to business and consumer interest in clean energy.