GE (NYSE: GE) announced today that it surpassed $5 billion in research and development investment in 2009 for it’s Ecoimagination line of products. The company said it will invest an additional $10 billion by 2015, but it withdrew its sales goal of $25 billion by 2010 for the eco-frienldy products.
Instead of a hard figure, the company said it now aims to increase sales within the product line at double the rate of overall corporate sales.
Sales for the group of energy efficient and environmentally friendly products reached $18 billion in 2009, according to the annual report released today.
Analysts, on average, expect GE’s 2010 revenue to be roughly flat with 2009 level and to decline about 1 percent in 2011, according to Thomson Reuters I/B/E/S.
GE also said it has reduced the greenhouse gas (GHG) intensity associated with its products by 39% compared to 2004; and GHG emissions from GE operations were 22% lower than the 2004 baseline.
By 2015, GE said it will improve the energy intensity of its operations by 50%, and will reduce its absolute GHG emissions by 25% (2004 baseline).
The company said it reduced water consumption 30% compared to a 2006 baseline, surpassing its goal of 20% by 2012.
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