GE Predicts Rise In 2008 Ecomagination Revenues

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GE affirmed that, amidst global economic turbulence, revenues from its range of energy-efficient and environmentally advantageous products and services will rise 21% to $17 billion this year, while GE's annual investment in cleaner research and development will pass $1.4 billion.

‘There is a green lining among the current economic storm clouds and GE customers and investors are benefiting,’ says GE chairman and CEO Jeff Immelt. ‘Cleaner innovation and technology resonate in the marketplace, while we slash our own energy and water costs and emissions, further strengthening GE's competitive position and the advantage GE offers to its customers.’

Future goals of GE include the following:

– GE will invest $1.4 billion in cleaner technology research and development (R&D) this year, nearing its $1.5 billion annual ecomagination R&D target by 2010.

– Increase revenues from ecomagination products like wind turbines, photovoltaic cells and Jenbacher engines.

SOURCE: GE

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