Monday, May 28, 2007

GE Announces New Energy Initiatives

General Electric has announced new projects to fight global warming, according to the Green Wombat. As part of the two-year anniversary of its Ecomagination campaign, GE made some impressive commitments:
  • Double its investments in renewable energy (and started that off with $180 million commitment to two Texas wind farms)
  • Begin disclosing the climate change emissions of the power plants it owns
  • Double its investment (to $50 million annually) in green tech start-ups
  • Form a partnership with BP to work on hydrogen power and carbon sequestration projects
  • Partner with Wal-Mart to install super-efficient LED display case lighting in more than 500 stores
  • Develop a hybrid train locomotive for Union Pacific

GE also announced that "green is green" and reported that revenues from its portfolio of energy efficiency and eco-friendly products and services were more than $12 billion in 2006 - up more than 20 percent from 2005. Order backlog rose to $50 billion.

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