GE to double energy efficiency investment

subscribe

General Electric Co. said that its plan to pour $5 billion in investments into energy efficient and environmentally oriented projects has been met a year ahead of schedule.

It also said it is committed to spend an additional $10 billion by 2015.

General Electric, based in Fairfield, Conn. said in its annual report that its investment in its "ecomagination" program is paying off.

GE said revenue from these products and services increased 6 percent to $18 billion in 2009 and that it has reduced emissions of greenhouse gases blamed for global warming. The company's revenue totaled $156.8 billion last year.

"We are doubling down to drive even faster impact and to deliver our contribution to a 21st century energy transformation," Jeffrey Immelt, GE's chairman and CEO, and Steven Fludder, vice president of ecomagination, said in the report.

The company said revenue from these products and services will grow at twice the rate of total company revenue in the next five years.

The company said its $5 billion investment has generated revenue of $70 billion. GE's portfolio of products from the effort is now up to 90, ranging from aircraft engines, locomotives and wind turbines to energy-efficient home improvement loans.

Related News

electric tractor

Are we ready for electric tractors?

REGINA - Car and truck manufacturers are falling off the fossil fuel bandwagon in droves and jumping on the electric train.

Now add tractors to that list.

Every month, another e-tractor announcement comes across our desks. Environmental factors drive this trend, along with energy efficiency, lower maintenance, lower noise level and motor longevity. There are more e-tractors than we can keep track of, but we’ve compiled a list of some that fit the bill for sustainability.

Let’s start with the Big Daddy of them all, the 400 horsepower JD GridCON. This tractor is not a hybrid and it has no hassle with batteries.…

READ MORE
should-california-fund-biofuels-or-electric-vehicles

Should California Fund Biofuels or Electric Vehicles?

READ MORE

nuclear power plant

What's at stake if Davis-Besse and other nuclear plants close early?

READ MORE

Ukraine's parliament backs amendments to electricity market law

READ MORE

teck mining

B.C. politicians must focus more on phasing out fossil fuels, report says

READ MORE