GE to double energy efficiency investment
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.
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LONDON - A Rolls-Royce (RR.L) design for a small modular nuclear reactor (SMR) will likely receive UK regulatory approval by mid-2024 and be able to produce grid power by 2029, Paul Stein, chairman of Rolls-Royce Small Modular Reactors.
The British government asked its nuclear regulator to start the approval process in March, having backed Rolls-Royce’s $546 million funding round in November to develop the country’s first SMR reactor.
Policymakers hope SMRs will help cut dependence on fossil fuels and lower carbon emissions.
Speaking to Reuters in an interview conducted virtually, Stein said the regulatory “process has been kicked off, and will likely be complete in the middle of…
