Berkshire, GE invest in U.S.-Israeli energy-saving software firm

Reuters News
Posted: May 19, 2015 9:42 AM

JERUSALEM (Reuters) - Berkshire Hathaway and General Electric have invested $22.5 million in U.S.-Israeli eVolution Networks, a provider of energy-saving software to mobile network operators.

EVolution said on Tuesday the money, which came from Berkshire's IES Holding and GE Ventures, would be used to expand into new markets, like data center energy management.

The company said its system can reduce the annual

energy consumption of mobile operators by up to 35 percent.

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The software has been deployed by operators such as Spain's Telefonica.

(Reporting by Ari Rabinovitch)