GE showcases "Ecomagination" initiative in Dubai, UAE
Dubai, UAE, February 7, 2006: GE confirmed its ongoing commitment to bring to market new technologies that help its customers meet pressing environmental challenges at this year's United Nations Environmental Program - Environmentally Sound Technologies exhibition in Dubai.
On the occasion of the Ninth Special Session of the Governing Council/Global Ministerial Environment Forum 2006 - UNEP Exhibition, GE promoted its 'Ecomagination' initiative before international delegates at the Environmentally Sound Technologies Exhibition, which took place from February 5-8 at the Dubai Convention Center.
"Ecomagination is GE's commitment to address challenges such as the need for cleaner, more efficient sources of energy, reduced emissions and abundant sources of clean water," said Nabil Habayeb, GE's President & CEO, Middle East & Africa.
Already a leader in energy-efficient power generation technologies, renewable energy technologies, water purification, energy-efficient consumer appliance and lighting products, the introduction of 'Ecomagination' has driven GE to double its investment into research into cleaner technologies which will see an investment of US$ 1.5 billion annually by the year 2010, up from US$ 700 million in 2004.
GE will double its revenues from products and services that provide significant and measurable environmental performance advantages to customers --from US$10 billion in 2004 to at least US$20 billion in 2010 with more aggressive targets thereafter.These products include renewable sources of energy such as wind and solar; technologies and materials that make energy production and consumption more efficient; and products and services that conserve or purify water.
In addition to helping customers meet their environmental goals, GE has committed to reduce its GHG emissions 1 percent by 2012 and the intensity of its GHG emissions 30 per cent by 2008 (both compared to 2004). Based on the company's projected growth, GE's GHG emissions would have risen 40 per cent by 2012 without further action.
In the Middle East, the GEnx engine - which will power the Airbus A350 and Boeing 787 - is a prime example of GE's Ecomagination technology. The GEnx engine is 15 per cent more energy efficient, significantly more quiet and has lower emissions than predecessors.
"GE is committed to the success of its customers," Habayeb said. "When they win, GE wins. Our customers deal with some of society's toughest environmental and sustainability challenges. Ecomagination will produce products that help customers find the right solutions to these issues. That's good for the environment and good for business."
GE (NYSE: GE) is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's web site at www.ge.com.
To find out more about GE's ecomagination initiative visit: www.ge.com/ecomagination.
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