GE Surpasses $5 Billion in Ecomagination Research & Development
FAIRFIELD, Conn. - GE announcedtoday that it surpassed $5 billion in ecomagination research and
development investment in 2009, one year ahead of schedule, and
committed to invest an additional $10 billion by 2015.
Today GE released its 2009 ecomagination annual report, which
details the significant progress and milestones achieved since the
May 2005 launch, including the announcement of new commitments as
the company reaches its fifth anniversary of ecomagination.
GE reported that revenues from its portfolio of energy efficient
and environmentally advantageous products and services crossed $18
billion in 2009; GHG intensity was reduced 39% compared to 2004;
and GHG emissions from GE operations were 22% lower than the 2004
baseline.
“Ecomagination is one of our most
successful cross-company business initiatives. If counted
separately, 2009 ecomagination revenues would equal that of a
Fortune 130 company and ecomagination revenue growth equals almost
two times the company average,” Jeff Immelt, chairman and CEO,
GE.
“We have made bold investments in ecomagination research and
development and it has resulted in strong returns for
shareholders.”
“We have grown ecomagination revenue and research and
development every year, even in challenging economic times. Given
our success, we are committing to do more,” said Steve Fludder,
vice president ecomagination.
“The vision of a cleaner, affordable, secure and globally
accessible energy infrastructure inspires and motivates us. Today,
we are doubling our commitments to accelerate our contributions and
to lead. We will invest twice as much in the next 5 years.”
The GE ecomagination annual report provides updates on the
progress on each of its ecomagination commitments in 2009, and
added new commitments for 2010:
1. Double investment in clean research and development
- In 2009, GE invested $1.5 billion on ecomagination
R&D, reaching the commitment to double our annual investment by
2010 one year ahead of schedule. GE continues to be committed to
unleashing new technology. Therefore, in 2010 GE is introducing a
new commitment to invest an additional $10 billion in ecomagination
research and development by 2015.
2. Increase revenues from ecomagination products
- In 2009, ecomagination revenues grew six percent to $18
billion even in a challenging global environment. GE is now
committing that ecomagination revenue will grow at twice the rate
of total company revenue in the next five years, making
ecomagination an even larger proportion of total company sales.
3. Reduce its greenhouse gas (GHG) emissions and improve
the energy efficiency of its operations - GE reduced its
GHG emissions by 22% compared to 2004. GE improved its energy
intensity 34% compared to 2004, surpassing the goal of 30% in 20
12. And GE has reduced its GHG intensity 39% compared to 2004. By
2015, GE will improve the energy intensity of its operations by 50
percent, and will reduce its absolute GHG emissions by 25 percent
(both using the 2004 baseline).
4. Reduce water use and improve water reuse -
GE reduced water consumption 30% compared to a 2006 baseline,
surpassing the original goal of 20% by 2012.
5. Keep the public informed - GE is continuing
ongoing discussions, dialogues and communications to engage with
the public on our ecomagination efforts. Coming soon in 2010, the
company will launch an updated
target=”_blank”>website where the public can
learn more and engage in a dialogue about GE, ecomagination, our
customers and our diverse stakeholders.
GE’s ecomagination report is
target=”_blank”>available where readers are encouraged to
download and read the electronic edition.
About GE
GE (NYSE: GE) is a diversified infrastructure, finance and media
company taking on the world’s toughest challenges. From aircraft
engines and power generation to financial services, health care
solutions, and television programming, GE operates in more than 100
countries and employs about 300,000 people worldwide. For more
information, visit the company’s
target=”_blank”>Web site.
You can return to the main Market News page, or press the Back button on your browser.
