GE has a 130-year old history of technology innovation, a heritage of which we are proud. The cleanest and most productive of these are what drive the success of the Ecomagination program.
Technologies such as Wind Turbines, water treatment technologies such as Zeeweed, our Evolution series locomotive and our advanced jet engines such the GEnx, are established market leaders and help drive both growth for the company as well as more efficient and productive operations for customers.
In 10 years, as one of the world’s biggest energy and industrial companies, we have indeed made incredible progress. What began as a $700 million annual investment in cleaner R&D has matured into a cumulative $15 billion of investment in cleaner research & development. By the end of 2014, we have generated more than $200 billion in revenue from Ecomagination solutions.
Looking ahead, Ecomagination is focused on innovation in six key areas:
- the development of new natural gas ecosystems for the oil and gas, power generation, and transportation industries
- the deployment of next generation renewables that are both lower cost and better integrated into larger power networks
- increased efficiency and alternative fuels for global transportation networks
- improved industrial and commercial water reuse and productivity
- increased resource productivity through the deployment of smart machine-to-machine software and analytics; and 6) more optimal, integrated systems at the home, building, and municipal levels
In addition to our own internal efforts to advance and improve some of the biggest resource-impacting technologies in the world – such as the big turbines that power our utilities, planes and locomotives – we are also engaging the global brain to create a bigger funnel for breakthrough, disruptive ideas and new technology solutions. Rapid advancements in connectivity and computing are creating a whole new era in the way we work – creating a massive network of experts, entreprenuers and makers – drive a reach community of solvers that through through open innovation and other tools is increasingly a way for us to expand our innovation and pipeline of new technology solutions. See here for more about some of our latest effort.
Ecomagination is also focused on innovation beyond core technology; increasingly, business model innovations are going hand in hand with novel new technology to aid in the rapid adoption of new technologies or to help scale to mainstream buyers.