Monday, June 01, 2009

GE Green Business up 21% - plans $1.5 billion in cleantech research by 2010

Company continues to grow revenues, reduce greenhouse gas emissions and meet other ecomagination goals

GE announced that it has surpassed its first ecomagination goal to reduce its own greenhouse gas intensity, and is making progress against its other goals for revenue growth, water and technology innovation.

In 2005 GE made a series of ecomagination commitments to be achieved sequentially in the years 2008, 2010 and 2012. The first commitment was to reduce its operational greenhouse gas (GHG) intensity 30% in 2008. The Company surpassed this goal by reducing GHG intensity 41%. Greenhouse gas intensity is the ratio of greenhouse gas emissions to Company revenue. GE also has reduced its absolute GHG emissions 13% and improved its energy efficiency 37% since 2005, keeping on track to meet its 2012 operational commitments in these areas.

With the release of the 2008 ecomagination annual report, GE also announced that it increased its portfolio of ecomagination products and services by one-third, to 80; grew revenues of ecomagination offerings 21%, to $17 billion; and increased its investment in the research and development of clean tech solutions 27%, to $1.4 billion.

The company's business and environmental goals for the coming years include:

• Bringing annuals sales of ecomagination products to $25 billion by 2010.
• Investing $1.5 billion annually in ecomagination R&D by 2010.
• Improving energy efficiency by 30 percent by 2012.
• Reducing water consumption by 20 percent by 2012.

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