Berkshire Hathaway (NYSE: BRK.A) and General Electric (NYSE: GE) 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%.
The software has been deployed by operators such as Spain's Telefonica.
Berkshire shares retreated $634.78, or 0.3%, to $218,490.55 U.S., in early Tuesday trading, within a 52-week trading range of $185,000 U.S. to $229.374.00 U.S.
GE shares gave up two cents to $27.29 U.S. within a 52-week trading range of $23.41 U.S. to $28.68 U.S.
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