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2012 Annual Report

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PICTURED: Top left: Shelli Wilding and George Crichton, GE Oil & Gas.

Building

Open Door

For Economic Opportunity

Myanmar

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BUILDING

Open Door for Economic Opportunity

With the opening of U.S. trade with Myanmar, GE has moved quickly to help the country modernize its infrastructure by providing reliable and affordable electricity, enhance services for its citizens, and energize its economy. Many business units across GE are now engaged in Myanmar. GE Healthcare is providing imaging systems to both public and private hospitals and will offer a wide range of medical products and information technology to help advance the country’s healthcare. GE Capital Aviation Services has leased two modern, fuel-efficient Embraer E190 aircraft, powered by GE engines, to Myanma Airways. We also have received orders from TOYO Thai Power Corporation for aeroderivative gas turbines with a capacity of 100MW—enough to provide power for 6 million people in the city of Yangon.

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BUILDING

Committed to Middle Market Customers

Around the world, we’re helping middle market companies drive economic growth by providing business-building expertise and financial resources. GE Capital services more than 1 million commercial customers in 15 countries and is a leading lender in the middle market, composed of medium-size businesses. It’s a fast-growing segment in many key economies, such as Australia’s, where the middle market represents about AUD$425 billion of revenue and 3.2 million jobs. We’re providing solutions to Australian customers such as recreational vehicle maker Jayco, including finance, as well as training and promotional programs for RV dealers. Our services have helped drive Jayco’s business to AUD$300 million in sales. In Germany, another important market for GE Capital, middle market companies employ 9.4 million people and generate 32.5% of private-sector revenues. The diversified German steelmaker GMH Group turned to us for financing solutions and advice that enabled the company to make strategic acquisitions and become a market leader.

More than
1M

commercial customers
GE Capital is a
leading lender in
the middle market

BUILDING

Vision for Saudi Arabia:
Building a Knowledge-Based Society Together

To support Saudi Arabia’s vision of diversifying its economy, GE has committed $1 billion to local investments over the next three years to strengthen manufacturing capabilities and drive innovation. Our investment will support the goals of Saudi Vision 2020, the government’s plan to advance socioeconomic progress by building the capabilities and enhancing the opportunities for its young people. Key areas for investment include a new Saudi-GE Innovation Center in Dhahran, as well as expansion of GE’s efforts in healthcare systems and energy programs. These initiatives build on GE’s history in the Kingdom, spanning almost 80 years. Our latest commitment will double our local workforce, primarily through local hiring, helping the next generation of Saudis build the Kingdom’s talent pool, economic diversity and growth potential.

At the Saudi-GE Innovation Center inauguration, guests learn how GE is empowering youth, fostering entrepreneurship and supporting women in the workplace to unlock potential in the Kingdom.
For More on GE's Investment in Saudi Arabia, Watch this Video

PICTURED: Khaled AlHinti (left) and Rakan AlHubaishi

$1B in local investments

over the next three years is our latest commitment in an almost 80-year history with the Kingdom

Moving

Digging

Deeper for Mine

Productivity

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Moving

Digging Deeper for Mine Productivity

To satisfy the world’s growing demand for natural resources, the mining industry must expand to deeper, more remote and more extreme locations. We launched the GE Mining business to serve those needs. We’re applying our full portfolio of products and services to improve mine productivity by transporting materials more efficiently, managing water use, and using advanced software to monitor systems. We are also developing new energy-storage devices such as our Durathon batteries, developed by GE’s Global Research Center, which are half the weight of conventional lead acid batteries, last twice as long, are produced using abundantly available raw materials such as salt and nickel, and can be recycled. By using Durathon in underground mining vehicles (just one of its applications), we can help the mining industry with two of its biggest challenges: decreasing environmental impact by reducing emissions, and increasing productivity with a long-lasting power solution.

GE offers the mining industry solutions such as electric drive systems, in these Komatsu trucks (right, below), and vehicles including GE’s Fairchild™ battery-powered scoop (inset).

  • Mine operators that deploy AquaSel,
    GE’s ecomagination-qualified technology
    for water discharge, can achieve
    recovery rates of

    90-95%
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Moving

Electrifying Change

GE Power Conversion is helping customers move toward cleaner, more efficient and more reliable energy management systems, based on electrical rather than mechanical technology. Our solutions are derived from three technology platforms—high-speed electric motors and generators, high-performance variable-speed drives, and industry leading software automation. Recognizing the potential of electrification, GE acquired Converteam in 2011. Renamed GE Power Conversion, we offer advanced electrical solutions across the oil and gas, mining, power-generation and industrial sectors. In the marine industry, we’re delivering innovative electrical and propulsion systems, as well as vessel automation and satellite positioning systems, for offshore drill ships and support vessels, LNG transport carriers, cruise ships, and navies.

5-10% greater fuel efficiency

for offshore vehicles using
Diesel-Electric vs.
Diesel-Mechanic

Powering

Big

Projects

To Power the World

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Powering

Big Projects to Power the World

The Gorgon Project is one of the world’s biggest natural gas projects and the largest single resource development in Australia’s history. When completed, Gorgon will produce 15 million tons of liquefied natural gas per year. GE Oil & Gas is providing subsea equipment and compression trains, along with a multi-decade services agreement to keep operations at peak performance. The Gorgon Project has implemented strict environmental standards to preserve Barrow Island’s unique ecology, including the world’s largest non-governmental quarantine initiative to prevent the introduction of non-indigenous animal and plant species. To power the project’s liquefaction facilities, GE is also supplying five massive gas turbine generators built in Avenza, Italy.

Gorgon Project facilities on Barrow Island.

  • The five gas turbine
    generators supplied by
    GE for Gorgon could power

    584K homes

    for one hour

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Powering

A Lift for Hard-to-Find Oil

Enhanced oil recovery is a major tool in meeting the world’s energy needs. To extract oil from mature fields, electric submersible pumps (ESPs) must withstand extreme heat, pressure, corrosion and highly abrasive conditions. A joint effort between GE’s Artificial Lift team and a customer in Africa has improved ESP product life by two years, providing vital savings that can be used to recover even more oil from older fields. Our ESPs can pump up to 45,000 barrels of oil daily, operating as deep as 12,000 feet belowground at temperatures up to 230°C. Now, scientists at our Global Research Center are working to further enhance the ESP technology GE acquired in 2011.

PICTURED: Jeremy Van Dam, GE Global Research

Powering

The Path to Flexible, Efficient Power

Global electric utilities are generating power more efficiently with our FlexEfficiency™ Advantage Advanced Gas Path (AGP) solution. Korea Southern Power Company, Ltd. (KOSPO) upgraded its Shinincheon plant with our AGP system. AGP technology uses data analyzed by facilities, including our Monitoring & Diagnostics Center, to help improve gas turbine output up to 4.8%, reduce fuel consumption up to 1%, and lessen environmental impact. Now, KOSPO’s plant is generating an additional 130 megawatts of power while reducing nitrogen oxide emissions.* We also offer solutions for new power facilities, including our FlexEfficiency 60 Combined Cycle Power Plant, designed for countries such as Korea that operate on 60Hz power frequency. FlexEfficiency 60 uses heat exhaust from a gas turbine to drive a steam turbine during periods of heavy power consumption, delivering flexible and reliable power from a mix of sources.

*As applied to GE 7F-3 series heavy-duty gas turbines. Performance on other frame types may vary.

For More on the FlexEfficiency Solution, Watch this Video

PICTURED: Craig Foster (left) and Karen Miller (right), GE Power & Water

Powering

Bright Lights, Big Savings

LED products from GE Lighting are illuminating cities around the world. London’s landmark Tower Bridge was outfitted with energy-efficient LED lights for the 2012 Olympics. In Brazil, both the 2014 FIFA World Cup and the 2016 Olympic Summer Games will feature energy-efficient LED lighting in main competition venues. The Wanganui City Bridge in New Zealand has a brighter look at night thanks to new LEDs from GE. And in Las Vegas, new LED streetlights are expected to reduce electricity use by more than 20 million kilowatt-hours and save nearly $1.7 million annually. Our LED systems consume much less energy than the fixtures they replace and can last two to three times longer—lighting the way to greater energy and maintenance cost savings for customers.

GE workers install LED street lights in Sydney, Australia.

Curing

Healthy Improvements

in Hospital

Operations

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PICTURED: Angelle Rhemann, St. Luke’s Episcopal Hospital

Curing

Healthy Improvements in Hospital Operations

GE’s Patient Care Capacity Management Solution helps hospitals find ways to provide patients with better care—faster and more cost-effectively. St. Luke’s Episcopal Hospital in Houston, Texas, a 650-bed teaching hospital with more than 30,000 admissions a year, is using GE Healthcare’s advisory services and AgileTrac™ software to improve capacity utilization and enhance the patient experience. GE’s Performance Solutions group uses proprietary simulation models to design operational care pathways that balance supply and demand and advance patient care. The GE–St. Luke’s team has used these designs to optimize surgical capacity and efficiency, streamline bed assignment, and improve discharge planning. Less than two years into this effort, the hospital has freed operating room capacity for 750 more patients each year, reduced average length of stay by approximately half a day, and saved more than $6 million in operating costs.

“Through these efforts we’ll be able to operate at higher occupancy, and we can improve patient experience.”—DR. PEG VAN BREE,
ST. LUKE’S EPISCOPAL HOSPITAL

  • $6M saved in St. Luke's

    operating costs
    through GE's Patient Care Capacity
    Management Solution

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Curing

Shhhh:
The Sound of Better MR Scans

Silent Scan, a revolutionary technology,* is designed to improve the patient experience by reducing noise generated during an MR scan. While conventional MR scanners can generate in excess of 110 decibels, roughly as loud as a rock concert, Silent Scan is designed to reduce noise to near-ambient levels in the room. Historically, noise-reduction techniques have focused on muffling sound; however, Silent Scan essentially eliminates the noise with new advanced scanning techniques in combination with GE’s proprietary MR components. Silent Scan is one way that GE is Humanizing MR by putting patients first while delivering superb image quality.

*Silent Scan is 510(k) pending at the U.S. FDA and not available for sale.

73 dB

GE Silent Scan

110 dB

Conventional Scan

GE’s Silent Scan technology is designed to eliminate excessive noise, a complaint that has not been adequately addressed since MR was introduced in 1984.
For More on Silent Scan, Watch this Video

PICTURED: Mark Woltjen, Grant Medical Center

Curing

Lifesaving Innovation on a Molecular Scale

GE solutions are helping researchers and medical professionals understand the structure of diseases at a molecular level, offering new hope for preventing, diagnosing, treating and curing diseases. Our Global Research Center and Clarient, a GE Healthcare Company, developed MultiOmyx™, a tissue analysis platform to diagnose and dismantle secrets about cancer. The platform can image information hidden deep in cancerous cells. Such pioneering solutions help uncover previously invisible details that may lead to patient-specific therapies.

PICTURED: Ovarian cancer cell culture

  • Our Oil & Gas team in Aberdeen, Scotland, builds subsea equipment for some of the world’s most extreme operating conditions
  • The GE Capital Regulatory team guided the Company through a changing regulatory landscape in 2012
  • The team at the GE Global Software Center in San Ramon, California, is bringing the Industrial Internet to our customers
  • At Appliance Park in Louisville, Kentucky, our team helps innovate products and constantly refines the manufacturing process