A huge clean-tech bet pays off.
It’s been more than a decade since GE launched its massive renewable business strategy, Ecomagination, with a pledge to double down on clean tech and generate $20 billion in annual revenue from green products. The ensuing 11 years have proved Ecomagination was more than just a PR ploy. Through the end of 2015, GE had invested $17 billion in clean tech R&D through Ecomagination while generating $232 billion in revenue from its products.
Last year, GE Transportation began manufacturing its Evolution Series Tier 4 Locomotive, which the company says will reduce emissions by more than 70% from the previous model. Through Ecomagination, GE also launched a concept called the Digital Wind Farm, which the it sayscan boost a wind farm’s energy production by 20%. It uses GE’s Predix operating system, which monitors turbine performance and uses predictive analytics to find the best way to align the turbines. Ecomagination’s decade-long manufacturing of energy-efficient technologies like these—along with the acquisition of Alstom’s power division last year—has now made GE responsible for about one-third of the world’s electricity capacity, making its commitment to clean energy a critical step for the future.
Jeffrey R. Immelt
|Revenues ($M) (Last Fiscal Year)||$140,389|
|Profits ($M) (Last Fiscal Year)||$-6,126|
|Market Value ($M)||$280,218|