GE Says 'Green' Business Revenue Grew 21%

By PAUL GLADER

General Electric Co. said it last year sold $17 billion worth of products and services that help customers conserve energy and reduce greenhouse-gas emissions, a 21% increase over 2007. Those products, ranging from energy-efficient refrigerators to wind turbines, are part of a business-development campaign dubbed "Ecomagination," which GE started in 2005.
GE now has 80 such Ecomagination-labeled products and services in its portfolio, an increase of 30% over 2007, the company said in its annual Ecomagination report, released Wednesday.
GE is targeting $25 billion in revenue from Ecomagination products by 2010 "despite the tough economic environment," GE Chief Executive Jeff Immelt and Vice President for Ecomagination Steve Fludder noted in the report.
GE said it is hoping to snag some of the roughly $400 billion it calculates global governments have set aside for economic-stimulus programs involving alternative energy, sustainable infrastructure and "green jobs."
The Fairfield, Conn.,-based conglomerate also said it has reduced greenhouse-gas intensity at GE facilities by 41% compared to 2005, surpassing an initial reduction goal of 30%. The company said it didn't make progress in 2008 toward its goal of reducing internal water use.
Write to Paul Glader at paul.glader@wsj.com