GE ADDS $10BIL COMMITMENT TO ECOIMAGINATION

GE to invest a further $10B on 'ecoimagination' energy R&D

Ernest Scheyder with Terry Wade and Leslie Adler, February 24, 2014 (Reuters)

“General Electric Co plans to intensify research focusing on complex energy projects such as waterless fracking and gas turbine efficiency by earmarking an additional $10 billion through 2020 for its ‘ecoimagination’ budget…The research budget shows how reliant GE has become on the energy industry, its fastest growth area, as it works to become a dominant supplier of equipment and services to oil, natural gas and alternative power companies…[Ecoimagination has brought in $160 billion in revenue by creating new products and saved $300 million on water and emissions costs. The] new commitment gives investors a clue as to what the company's priorities will be into the next decade…[Ecoimagination] was formed in 2005…and has cost nearly $15 billion…While the overall goals of the project will remain, a larger percentage of the funds will go to energy-related projects…[This] is part of GE's larger research and development budget, worth roughly $5 billion to $6 billion per year…” click here for more

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