GE to invest a further $10B on "ecoimagination" energy R&D


General Electric (GE) intends to spend an extra $10B on its "ecoimagination" project by 2020 as part of a plan to develop energy technology such as waterless fracking and improved gas-turbine efficiency.

GE has invested $15B on ecoimagination since forming the project in 2005; the conglomerate planned to end it next year but is extending it. The products created have generated $160B in revenue and saved $300M on water and emissions costs

Energy has become GE's fastest growth area, with the company supplying equipment and services to oil, natural gas and alternative-power companies.

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Comments (6)
  • U2A Ventures
    , contributor
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    Love GE
    24 Feb 2014, 08:55 AM Reply Like
  • lydizzy
    , contributor
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    Waterless fracking already exist; its called Gasfrac
    24 Feb 2014, 10:07 AM Reply Like
  • vonschoenfeldt
    , contributor
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    you got that right, I have tried it with good success, unfortunately Gasfrac did not make it in the US; partially because it was perceived to be potentially to dangerous and/or unconventional. Gasrfac retreated back to Canada.
    24 Feb 2014, 01:18 PM Reply Like
  • kmetviner
    , contributor
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    Add this piece of news to the phenomenon of lower energy prices. By focusing on technology, GE may sidestep the horror show I see developing in the energy space, as persistent low prices cut the heart out of energy production and infrastructure companies. I like GE for its potential break-up value, which will be realiized over the next decade. Oh, it pays a nice dividend, utilizing its excess cash to further benefit its stockholders.
    24 Feb 2014, 06:19 PM Reply Like
  • dealraker
    , contributor
    Comments (906) | Send Message
     
    GE has one hell-of-a-good investor relations news department that for a zillion years has pumped out the go-go news. Of course earnings have been, and continue to be, the problem. GE continues to chase around the businesses in the "right" space while selling those in the out-of-favor space.

     

    Warren, over at Berkshire, of course does just the opposite.
    25 Feb 2014, 05:48 AM Reply Like
  • fra53ine
    , contributor
    Comments (38) | Send Message
     
    Agree with dealraker, GE comes up with cutsey words and phrases but doesn't deliver on the bottom line. It's management has demonstrated over the last 12 years it can't effectively manage its diverse portfolio, hence breaking up the business is a logical step.
    Time for the silly monikers "ecomagination, eco-imagination, eeekitsmasturbation are long gone... bring in Icahn and start returning real value to the long time shareholders started by saving the $1B annually to support Fairfield.
    26 Feb 2014, 08:43 AM Reply Like
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