Building & Design
GE to double investment in clean R&D over next five years
US giant GE has committed to investing an additional $10 billion – over double its previous investment – in clean research and development.
In 2009, GE invested $1.5 billion in research and development as part of its ecomagination cross-company initiative, surpassing a total of $5 billion in investment over the past five years.
“Ecomagination is one of our most successful cross-company business initiatives,” says chairman and CEO Jeff Immelt. “[Its] revenue growth equals almost two times the company average.”
According to GE’s annual ecomagination report, revenues from the company’s energy efficient and environmentally friendly products and services reached over $18 billion last year.
“We are doubling our commitments to accelerate our contributions,” says Immelt. “We will invest twice as much in the next five years.”
Meanwhile, the company also reported greenhouse gas intensity reduced 39% compared to 2004 levels, when the ecomagination initiative began, with emissions from all GE operations down 22% on the same baseline.
The company now wants to see the energy intensity of its operations down 50% on 2004 levels and an absolute reduction in greenhouse gas emissions of 25% by the same deadline.
For further information:
www.ge.com
www.ecomagination.com
www.ecomagination.com/report
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GE unveils €340 million expansion of European offshore wind efforts (26-Mar)
GE plans Ecomagination Centre for Masdar City (22-Jan 2009)