Innovation and technology are the core elements of finding solutions and meeting environmental challenges faced by the world today, and the future. Ecomagination is GE’s bold commitment to imagine and build innovative solutions that solve these challenges and benefit customers and society at large.
Launched in 2005 with $5 billion investment, the technology and products that were a result of ecomagination initiatives have generated $70 billion in revenue over the past five years, according to the 2009 GE Ecomagination report. The vision’s success has lead to GE committing another $10 billion over the next five years. Other results of GE’s ecomagination vision are the fact that their revenues from ecomagination products have grown by six percent to $18 billion; $1.5 billion was invested in cleaner technologies achieving the 2010 goal one year ahead of schedule; greenhouse gas emissions from operations were reduced by approximately 22 percent (since 2004) and water use by 30 percent (since 2006).
Ecomagination initiatives in the region include the GE-Masdar Ecomagination Centre in Masdar City – the world’s first carbon-neutral, zero-waste city completely powered by renewable energy; the GEnx aircraft engine that promises 15 percent lower fuel burn than its predecessor is being used by Emirates and Etihad Airlines as well as Qatar Airways; desalination plants in Oman; waste water treatment plants in Kuwait; and most recently, an agreement with Saudi Arabian General Investment Authority (SAGIA), the body that facilitates inward investments to the Kingdom, to pilot GE’s innovative technologies within the Economic Cities in the Kingdom being promoted by the Authority.