GM stakes offshore wind startup

General Motors' VC arm is the lead investor on a $10 million Series A funding round for Wind Catching Systems, a Norwegian startup looking to commercialize next-wave floating offshore wind designs, Ben writes.

Why it matters: It's GM Ventures' first funding for a renewable power startup and a move that the auto giant calls complementary to its widening rollout of electric cars.

As GM moves deeper into EVs, it’s "critical that we simultaneously drive the transition of the grid to low-carbon energy sources,” GM chief sustainability officer Kristen Siemen said in a statement.