Company Showcases Full Range of Eco-solutions at Environmental Summit
Beijing, China, June 10, 2007 -- On the anniversary of its ecomagination campaign launch in China, GE is redoubling its efforts to develop advanced, environmentally advantaged technologies that will support the country's continued, sustainable growth and a 'green' Olympic Games in Beijing in 2008.
As part of its eco-commitment, GE is actively participating in the 2007 Beijing Energy-saving and Environmental Protection Exhibition (BEEPE) and Summit from June 10-13, in which GE is showcasing its environment solutions for the Olympic venues and the city's infrastructure.
"We believe GE's ecomagination is a perfect fit with Beijing's 'Green Olympic Games' goals," said Steve Bertamini, Chairman & CEO of GE Northeast Asia and China. "We are very excited about the opportunity to provide diversified technology and environment solutions to Beijing and China."
A year ago, GE signed a memorandum of understanding with the National Development and Reform Commission (NDRC) for an overall cooperation to drive environmentally friendly technologies in China, including cleaner coal power generation, renewable energy, water reuse and desalination, high efficiency and low emission aircraft engines and locomotives, energy efficient lighting and power distribution.
"Our ecomagination strategy in China will be more focused on helping Beijing's 'Green Games' and more focused on local solutions," said Bertamini. "As a worldwide sponsor of the Beijing Olympic Games, GE is uniquely positioned to provide big solutions in the areas that can create positive impact on environment and the long-term growth of the Olympic host city."
GE is exhibiting its growing list of ecomagination products (detailed below), at the exhibition, which include advanced wind power technologies, "cleaner coal" integrated gasification combined cycle (IGCC) turbines, water membrane technologies, and Jenbacher engines.
The success of the ecomagination project in China is just a snapshot of GE's efforts worldwide. In the recently released report "Delivering on ecomagination", GE reported that revenues from its portfolio of energy efficient and environmentally advantageous products and services surged past USD 12 billion in 2006, up 20 per cent from 2005, while the total of backlog orders rose to USD 50 billion.
"These extraordinary achievements serve as the initial payoffs from our endeavors," said Lorraine Bolsinger, GE's vice president for ecomagination. "We had doubled our investment in clean research and development, which was USD 900 million, in 2006. In addition, we now offer 45 types of ecomagination products, which marks a 50 per cent increase."
"We believe ecomagination plays a pivotal role as our business strategy evolves in the emerging markets like China. As the country embarks on sustainable growth with energy efficiency and environment protection at its core, the opportunities for ecomagination are tremendous," said Bolsinger.
The development and application of these advanced technologies go hand in hand with GE's commitment to develop its local R&D infrastructure and talent. GE has already invested about USD 500 million in its China Technology Center---one of four such R&D centers globally---for eco-related research and is training as many as 2,500 managers over the next five years. The Center is home to some of GE's most advanced research in cutting-edge, environmentally advantaged technologies that GE uses to enhance its clients' bottom line while at the same time creating a sustainable future for China and the world.
Geoff Li
Geoff Li
GE Global Operations
Geoff.Li@ge.com
*517-3046