GE Makes Series of Important Green Business Announcements

Yesterday, General Electric (NYSE: GE) announced it would double its investments in renewable energy R&D, project development and in emerging companies in the space. It also said it would disclose emissions generated from GE Energy Financial’s power plant equity investments.


Today, GE made a series of important announcements, introducing 11 new ecomagination products, services and projects, bringing the total to 45.


Said CEO Jeff Immelt, “Green is happening everywhere across GE,” Immelt said. “From our transportation products to renewable energy to clean water to how we make television shows and movies to home building and mortgages, green is truly universal at GE.”


World’s First Hybrid Locomotive: the Evolution® Hybrid locomotive is a freight hybrid locomotive capable of recycling thermal energy as stored power in on-board batteries.


ecomagination Homebuilder Program: The first-of-its-kind package of energy-efficient appliances, lighting, advanced building design and GE Commercial Finance’s first energy-efficient mortgage, the GE SmartCommand(TM) Dashboard, which provides current and historical feedback on electricity and water consumption.


Doubling Down on Renewables: GE Energy Financial Services will double renewable energy investments to $4 billion by 2010. Investments has grown from $630 million in 2004 to $2 billion today.


Hydrogen Energy and Carbon Sequestration: GE and BP’s new Hydrogen Energy unit are forming a global alliance to jointly develop and deploy 10-15 hydrogen power projects to dramatically reduce CO2 emissions through sequestration.


High-efficiency Lighting: in partnership with the Edison Electric Institute, the association of U.S. shareholder-owned electric companies, a high-efficiency lighting project will help utilities reduce energy demand.


Smarter Lighting at Wal-Mart: over 500 US Wal-Mart stores will use GE LEDs to illuminate refrigerated display cases.


Offsetting Carbon Emissions: a partnership with AES Corp., will annually produce 10 million metric tons of greenhouse gas (GHG) offsets by 2010. Projects to capture and destroy GHG emissions will include agricultural waste, landfills, coalmines and wastewater treatment; the partnership would sell offsets from these projects.


Desalination: GE Water & Process Technologies, Poseidon Resources Corporation, American Water and Acciona Agua have joined to build the largest seawater desalination facility in North America, the Carlsbad Seawater Desalination Plant. The plant will bring long-term, drought-proof, affordable water to southern California.


NBC Universal Goes Green: The “Get on Board” campaign is a companywide program to improve environmental operations, raise awareness about environmental issues and stimulate cange in the media and entertainment industry.


World’s first commercial landfill gas-to-liquid natural gas conversion facility: The Jenbacher landfill gas engine will primarily fuel mass transit and other large vehicle fleets in the Los Angeles, Calif. region. The non-catalytic exhaust gas treatment system reduces CO2 emissions by over 80%.


In addition to improving air quality and reducing the consumption of traditional natural gas, the project greatly reduces the fuel transportation cost and distance over which LNG must be transported to customers. Existing, conventional LNG supply sources are located as far as 840 miles away from customers in Southern California.


Texas Wind Farm: GE Energy Financial Services is investing $180M for 50% of equity in its largest wind farm to date, the 241 MW Sweetwater 4 facility and a sister project in Texas. GE now holds over 1,900 MW of wind.

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