June 2, 2006—General Electric (GE) has released its 2005 ecomagination report, showing that revenues from the sale of energy efficient and environmentally advanced products and services hit $10.1 billion in 2005, up from $6.2 billion in 2004 — with orders nearly doubling to $17 billion.
“Ecomagination is paying off for our investors and customers,” said GE Chairman and CEO Jeff Immelt. “Our advanced environmental products and services are helping customers increase their energy efficiency and reduce costs and emissions. And it is providing the growth we expected for GE, as we are ahead of our plan to reach $20 billion in annual sales of ecomagination products by 2010.”
Launched in May 2005, ecomagination is GE’s initiative to build innovative technologies that help customers address their environmental and financial needs and help GE grow. The report issued today will be followed by similar updates on an annual basis.
GE is also using ecomagination as a platform to improve the energy efficiency of its own operations, helping to lower costs. In 2004 and 2005, GE attacked higher energy expenditures by undertaking nearly 500 global energy conservation projects that resulted in more than 250,000 tons of GHG emissions reductions — the equivalent of removing nearly 50,000 cars from the road. These projects are yielding substantial energy cost savings.
GE’s ecomagination report is available on the company’s Web site.
