GE Buys Calnetix Unit to Produce Electricity From Wasted Heat

General Electric Co. said it bought the waste-heat power generation business of closely held Calnetix Inc. to add to its biogas equipment unit and tap into a market it estimates at $1 billion.

Calnetix Power Solutions Inc., based in Stuart, Florida, makes machines that capture heat from turbines and engines and turn it into electricity, said Prady Iyyanki, chief executive officer of Jenbacher, the GE unit that will operate the business. Financial terms weren’t disclosed.