GE’s ecomagination business in China records $656 million
14 Dec 2009
General Electric;s Chinese subsidiary, GE China said that in the first three quarters of 2009, revenues from GE ecomagination products and services in China reached $656 million - a 50 per cent year-on-year increase from 2008.
GE Power and water, transportation and aviation have contributed to ecomagination's strong growth in the first three quarters of 2009 through a series of deals.
These businesses have finalised high-level deals with Chinese government bodies and enterprises in areas such as biogas solutions, wind power, clean coal technology, industrial emissions reduction, aircraft engines, locomotives and LED lighting for roadways.
In 2009, GE signed 20 MOUs with central and local government bodies and 10 MOUs with state-owned-enterprises and Chinese universities, the majority of which focus on energy-efficient solutions.
''Ecomagination is a perfect fit for China," says Steve Fludder, GE vice president and head of ecomagination. ''GE is helping China enhance economic growth and environmental improvements at the same time. This is the essence of ecomagination. Ecomagination is good for their business, and it is good for GE shareholders. ''
GE says that during US President Barack Obama's visit to China, GE and its local partners announced the signing of a series of agreements aimed at strengthening China's clean energy, transportation infrastructure and green building capabilities contributing to unprecedented Sino-U.S. environmental collaboration and China's increased sustainable development goals for 2020 preceding the Copenhagen meeting.
