General Electric (GE), a diversified infrastructure and finance company providing global solutions for cleaner and more efficient sources of energy, signs an agreement to explore green initiatives of strategic interest with Malaysian Green Technology Corporation, a government agency under the Ministry of Energy, Green Technology and Water (KeTTHA), responsible to implement and facilitate the realization of the National Green Technology agenda.
KUALA LUMPUR, MALAYSIA -- September 9, 2011 -- General Electric International Inc (NYSE:GE) and Malaysian Green Technology Corporation (GreenTech) today announced an agreement to collaborate on green initiatives of strategic interest in Malaysia. At the 2nd annual International Greentech & Eco Products Exhibition & Conference Malaysia 2011 (IGEM) in Kuala Lumpur Convention Center, Regional Managing Director of Business Development, GE ASEAN, Rahul Gupta and Chief Executive Officer of GreenTech Malaysia, Dr Nazily Mohd Noor signed a Memorandum of Understanding (MoU) that lays out specific collaborative projects that are aligned with key thrusts of the National Green Technology agenda.
Says Rahul, "We believe that a strategic collaboration is beneficial for both parties as we work towards the development and promotion of green technology and services in Malaysia. Such collaborations are key to accelerating the Malaysian government‟s aim to achieve energy security and transform the country into a green technology hub. Through our ecomagination™ initiative and armed with green technology experience and credentials in various global jurisdictions, we believe that GE is well-positioned to support the country‟s goals."
Under the MoU, GE and GreenTech will collaborate on public awareness campaigns to promote green technology and sustainability initiatives through sharing of best practices and green technology development under GE‟s ecomagination™ initiative. Both parties will jointly embark on thought leadership programmes involving presentations, seminars, roundtable discussions or exhibitions catered to the public and government sectors.
The GE-GreenTech MoU will also explore collaborations in projects involving the design, planning and implementation of a new government certification or standards for green technology development eg. green buildings, professional certification in the areas of green technology with a focus in developing the human capital needs in this sector. The collaboration will also provide a platform for both parties to jointly influence policy formulation and regulatory framework through consultation and participation in relevant roundtable discussions with the Malaysian Government on the National Green Technology policy and related policy initiatives.
Dr. Nazily Mohd Noor, CEO, GreenTech Malaysia said, "We are very pleased to be working with a premier company like GE. What makes GE a leader in this competitive world is their commitment to clean technology solutions by their robust investment in R&D. We believe that GE‟s ecomagination strategy is congruent to Green Tech Malaysia‟s goals - solving energy efficiency and water challenges of today. We believe that this strategic collaboration will help accelerate Malaysia towards a new green growth economy."
With the signing of the MoU, GE and GreenTech will also endeavor to cooperate and explore the feasibility of an electric vehicle (EV) infrastructure and framework for private, public and commercial application and work towards developing the blueprint for an EV Infrastructure Framework in Malaysia. The initiative will entail joint lobbying to raise public and government awareness on the EV framework, as well as running electric vehicle pilot tests in several locations across Malaysia, working with GE‟s partners and stakeholders with regards to this effort.
"The collaboration with GreenTech Corp is in line with GE‟s „Sustainable Cities‟ concept which has seen the company work with cities around the world on sustainable development and infrastructure modernization. We believe in driving innovation through "eco-systems" which entails collaborations with local partners to develop a more holistic model for better and smarter green solutions to address local needs. " Rahul Gupta said.
GE showcased its flagship "Sustainable Cities" concept at the IGEM from 7 to 9 September 2011 featuring key ecomagination™ products such as the WattStation, GE‟s fast, easy-to-use, award-winning EV charging station. Peter Cowling, General Manager, Renewable Sales, GE Energy Asia Pacific, a speaker at IGEM‟s parallel discussion titled, Sustainable Energy Solutions: The Value Proposition said, "A key component to GE‟s ecosystem approach is coming up with solutions that meet future energy needs in ways that are affordable, sustainable and secure. We believe that significant opportunities exist for the growth of Renewable Energy and GE is ready to help Malaysia build a sustainable energy platform for growth."
About GE
GE (NYSE: GE) is an advanced technology, services and finance company taking on the world‟s toughest challenges. Dedicated to innovation in energy, health, transportation and infrastructure, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.
About ecomagination™
GE is driving a global energy transformation with a focus on innovation and R&D investment to accelerate the development and deployment of clean energy technology. Since its inception in 2005, more than 90 ecomagination-approved products have been brought to market with revenues reaching $18 billion in 2009. With $5 billion invested in R&D its first five years, GE committed to doubling its ecomagination investment and collaborate with partners to accelerate a new era of energy innovation. The company will invest $10 billion in R&D over five years and double operational energy efficiency while reducing greenhouse gas emissions and water consumption. As part of the initiative, GE launched "GE ecomagination Challenge: Powering the Grid", a $200 million financial commitment challenging innovators to join in building the next-generation power grid. For more information, visit the ecomagination website at http://www.ecomagination.com.
GE released its ecomagination 2010 annual report in June 2011, recording an investment of about $1.8 billion on research and development of clean technologies, which puts it on course to meet its goal of $10 billion cumulative investment between 2010 and 2015. The report also showed increased revenue from ecomagination products -- GE last year set an ambitious new goal of growing eco revenues at twice the rate of total company revenue in the next five years.
About Malaysian Green Technology Corporation
Malaysian Green Technology Corporation (GreenTech Malaysia) is a government-linked agency and implementation arm for Ministry of Energy, Green Technology and Water (KeTTHA), providing inter alia services for consultancy, energy audits, efficient energy management, training, and green technology financing schemes to spearhead the promotion of green technology, development and advisory in policy matters and adoption of the latest green technology practices for the nation.
Media Contact:
Norhasliza Mohd Mokhtar
Assistant Project Manager
Strategic Planning, Alliances and Business Development
GreenTech Malaysia
+60192287077
Zatalini - Zulkiply
[email protected]
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