General Electric is celebrating the two-year anniversary of its "ecomagination" initiative in Los Angeles today, and to show that its putting money behind its marketing slogans, the conglomerate announced a slew of projects designed to combat global warming. Its GE (GE) Energy Financial Services unit will double its investments in renewable energy to $4 billion by 2010 and kicked off that effort by saying it’s putting $180 million in two Texas wind farms that will produce 321 megawatts of electricity. GE Energy Financial Services also will begin disclosing the greenhouse gas emissions of the power plants in which it holds ownership. The emissions revealed will reflect its ownership stake. The financial services division said it will double to $50 million annually its investment in green tech startups like A123, a Watertown, Massachusetts, electric car battery maker. Other initiatives unveiled in LA include:
- A collaboration with BP (BP) on hydrogen power and carbon sequestration projects.
- A deal with Wal-Mart (WMT) to install energy efficient LED display case lighting in more than 500 of the retailer’s stores.
- A hybrid train locomotive for Union Pacific (UNP).
Oh, and the green governator is stopping by. Arnold Schwarzenegger will be chatting with GE chief Jeff Immelt at 2 p.m.
Green Wombat 
I think GE is doing a great thing by taking the leadership position on green energy while those slackers in Washington are caught up in their usual “he said… she said…” With their role as the second largest company in the world they should take on big oil and reintroduce electric cars. I recently saw the film Who Killed the Electric Car and believe that GE has the technology, capacity, and infrastructure to create their own electric car. They just created a great new consumer friendly digitial camera, I think if theres a market, they can enter the auto industry and win.
Here is a fascinating future timeline for energy technology advancement, that encompasses ALL key areas.
http://futurist.typepad.com/my_weblog/2007/02/a_future_timeli.html
That’s nice, but GE, Wal-Mart and others who sell CFLs – compact fluorescent light bulbs – need to get the mercury out – and place warning labels about the need to recycle CFLs. Too many consumers are unaware of the personal and environmental dangers of the compact fluorescent light bulbs and the dangerous levels of mercury. Even GE’s own website posts warnings about handling the broken bulbs. Retailers who sell the CFL bulbs should be required to recycle the bulbs they sell.
P.S. LED lights are awesome. Why not make ’em for the home?
GE to Invest $4 billion in Green Energy