GE Financial exec Kevin Skillern to keynote CCIA event: energy venture capital unit already having record deal year.

The goal that guides the investment decisions of Kevin Skillern, managing director of the venture capital unit within General Electric Energy Financial Services, is deeptively

"We want to work with the best of the best, because the scale of the opportunities and the scale of the challenge is very significant," he says.

Skillern. who will deliver the keynote address at the Colorado Cleantech Industry Association Industry Awards Celebration on Nov. 7, has had a busy year. Through early August, his venture capital unit had done 16 deals. That heats the previous high for any one year of 11.

Over the longer term, his unit has backed 35 companies, including four that have conducted IPOs.

Also this year, in January, General Electric went together with two other major players, ConocoPhillips and NRG Energy Inc., to create what they call the "premier investor and commercial collaboration partner far emerging and innovative energy technology companies."

Through their joint venture. Energy Technology Ventures, the three companies together committed $300 million in capital with which they intend to fund approximately 30 venture- and growth-stage com-panics during the next four years.

The new venture is reviewing everything from renewable power generation to smart grid, energy efficiency and emission controls, but also oil, natural gas, coal and nuclear energy. They will be looking primarily in North America, Europe and Israel.

Among their first investments was a Colorado-based company, Ciris Energy. Giris, which is based in Centennial, aims for technology innovation that more effectively extracts fossil fuels. Most prominently, the company has developed technology to biochemically convert coal into pipeline-quality methane, the key constituent of natural gas. Natural gas, when burned, produces half the carbon dioxide of coal, and emits almost none of the other pollutants, such as mercury

"The world needs new energy technologies," Skillern said, after mentioning the triumvirate of heavy-hitter investors. "Oil prices are high. There are increasing regulations in the transportation and power-generation industries. People are concerned about the environment all around the world. And it has unleashed a wave of innovation all around the world."

He added: "We want something that matters."

An extra dimension for GE in making investment decisions is whether the emerging technology could benefit from GE's hefty technological expertise.

GE is heavily invested in...