GE surpasses $5-billion in `ecomagination' R&D

GE has surpassed $5 billion investment in ecomagination research and development in 2009, one year ahead of schedule, and said it is committed to invest an additional $10 billion by 2015.

Through ecomagination, GE helps to solve the world's biggest environmental challenges while driving profitable growth.

GE on Thursday released its 2009 ecomagination annual report, which details the significant progress and milestones achieved since the May 2005 launch, including the announcement of new commitments as the company reaches its fifth anniversary of ecomagination.

GE reported that revenues from its portfolio of energy-efficient and environmentally advantageous products and services crossed $18 billion in 2009; greenhouse gas intensity was reduced 39 per cent compared to 2004; and emissions from GE operations were 22 per cent lower than the 2004 baseline.

"Ecomagination is one of our most successful cross-company business initiatives. If counted separately, 2009 ecomagination revenues would equal that of a Fortune 130 company and ecomagination revenue growth equals almost two times the company average," said Jeff Immelt, chairman and CEO, GE.

"We have made bold investments in ecomagination research and development and it has resulted in strong returns for shareholders," he added.