BEIJING, June 29 –GE has it signed a Memorandum of Understanding (MOU) with China’s National Development and Reform Commission (NDRC), to expand cooperation in the development of advanced environmental technologies that will support continued, sustainable growth in China over many decades.
And as an extension to the cooperation with NDRC, GE and Tsinghua University signed a research agreement, under which the University will provide research to GE’s environmental initiatives in China and around the world. This is the first cleaner technology collaboration in China for both GE and Tsinghua, and the unique Corporate-University agreement will bolster GE’s technical base.
“From a small trading business in the early 1900s, to US$5 billion (RMB39 billion) in revenues in China today, GE’s strong commitment to China is getting even stronger,” said GE chairman and chief executive officer Jeff Immelt, who signed the agreement in Beijing with the NDRC.
“Advanced energy and environmental technologies bridge our company and this country to a horizon of immense potential growth.”
Immelt talked of “ecomagination” – the tagline for a global US$10 billion revenue stream GE hopes to double to $20 billion by 2010. He cited a number of ecomagination products already in use in China or coming soon, including:
* cleaner coal: integrated gasification combined cycle (IGCC) plant in China are increasingly using GE’s gasification technology;
*China Mainline Evolution locomotive – tailored for the China market for massive cargo loads over long distances, this locomotive’s 16-cylinder engine also reduces emissions by nearly a third. The Chinese Ministry of Rail has ordered 300 of the 6,000 horsepower locomotives;
*GEnx aircraft engines (which will power the Boeing 787, 747-8, and Airbus A350) – are up to 15% more fuel efficient, 30% quieter, and have significantly lower emissions than their predecessors;
* wind energy – with a total of 700MW of wind turbines to be installed in China, GE is a leading player in China’s renewable energy market;
* Jenbacher engines that use methane gas from coal mines and landfills. Engines currently operate on coal-mine gas pumped from the active Xieqiao mine in Huainan, with electricity being fed into the regional power grid. The growth potential for such applications is considerable as China is the world’s largest coal producer;
“China is home to some of our finest research capabilities, our most creative and dedicated employees, and the customers who will benefit from the strength and promise of both,” said Lorraine Bolsinger, GE vice president of ecomagination.
GE’s ecomagination report is available at www.ge.com/ecoreport. To encourage readers to save paper and read the report online, GE is planting a tree at its Peebles, Ohio, US jet engine testing facility for each of the first 2,500 downloads of the report. Its website does not yet state whether this target has been reached. These trees, GE says, will help offset the generation of carbon dioxide associated with growth at GE’s engine test facility.
GE is encouraging feedback on the report through email@example.com. Additionally, GE will hold a webcast on its citizenship efforts and ecomagination on June 1 at 10:30am EST DST (10.30pm Hong Kong).
The web cast will be hosted by Lorraine Bolsinger; and will feature senior vice president & general counsel Brackett Denniston, vice president of corporate citizenship Bob Corcoran and legal counsel and director of ehs operations Ann Condon.