For Its Work in MENA and Globally, GE Awarded Zayed Future Energy Prize
GE today won the prestigious Zayed Future Energy Prize in the Large Corporation category for its significant contribution to renewable energy and sustainability. In the 10 years through 2015, the company invested US$17 billion in Ecomagination R&D, installed approximately 40 gigawatts of clean energy, and reduced its own greenhouse gas (GHG) emissions by 12% and its freshwater use by 14%.
What’s more, by 2020, GE expects to invest another US$10 billion in R&D, cut GHG emissions by 20% and freshwater use by 40%. GE also is bringing its work in digital industrial technologies to help industry achieve significant energy and water reductions. The Ecomagination 2020 Partnerships with eight global, like-minded companies will jointly develop and commercialize trans-formative digital industrial solutions to address energy and water challenges.
The ZFEP judges made the award in recognition of the impact of GE’s investments and interests in renewable energy and sustainable development, its global presence in the sector, industry leadership and long-term commitment to developing innovative products.
Presented at a ceremony during Abu Dhabi Sustainability Week, GE’s Vice Chairman John Rice received the award in the presence of H.H. Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.
Judges took into consideration GE’s clear vision for the long-term future of energy, and its sustainable strategy for its role in achieving this future.
In 2015 alone, GE invested US$2.3 billion in clean-technology R&D and generated US$36 billion in revenues from Ecomagination technologies and solutions. Now, with its digital industrial technologies – digital power plants, brilliant factories – GE is taking the clean energy narrative to the next level. GE’s Brilliant Wind Turbine, solar energy systems and clean coal technology make the shift to alternative and clean energy more efficient, productive and seamless.
In the UAE, the GE Ecomagination Innovation Center – the largest of its kind in the world, in Masdar City in Abu Dhabi – promotes research in clean energy. AS well, GE is working with Masdar to pilot and commercialize sustainable energy-neutral advanced wastewater treatment solutions in the UAE and the Middle East, North Africa and Turkey region, and jointly develop with GE Industrial Internet solutions to optimize efficiencies.
Managed by Masdar, the ZFEP honors the legacy of environmental stewardship of the late Ruler of Abu Dhabi and Founding Father and President of the United Arab Emirates, Sheikh Zayed bin Sultan Al Nahyan.
GE has had a presence in the UAE for nearly 80 years, serving as a partner in the nation’s growth, helping customers address their toughest challenges in the critical sectors such as power and water, aviation, transportation and healthcare.
As a 130-year-old technology company, sustainability is embedded in GE’s culture and business strategy, and through its various initiatives strive relentlessly to find sustainable solutions to benefit the planet, its people and the economy.