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.
Related News
Swiss Earthquake Service and ETH Zurich aim to make geothermal energy safer
BERN - The Swiss Earthquake Service and ETH Zurich want to make geothermal energy safer, so news piece from Switzerland earlier this month. This is to be made possible by new software and the computing power of supercomputers. The first geothermal tests have already been carried out in Iceland, and more will follow in the Bedretto laboratory.
In areas with volcanic activity, the conditions for operating geothermal plants are ideal. In Iceland, the Hellisheidi power plant makes an important contribution to sustainable energy use.
Deep geothermal energy still has potential. This is the basis of the 2050 energy strategy. While the inexhaustible…
