Sustainability is proving to be a good investment for General Electric (GE).
According to the company, GE's 2008 revenues from its Ecoimagination business -- GE's products and technologies that targets energy efficiency, clean technology and other environmental solutions services -- rose 21% to $17bn despite the current economic turmoil.
GE's annual green R&D investment is expected this year at $1.4bn, they said. It's Ecoimagination R&D target is $1.5bn by 2010.
Because of their green success, GE said they are raising their annual Ecomagination revenue target to $25 billion by 2010.
What a nice profit huh?
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