General Electric to invest in green tech

| May 9, 2005 | 0 Comments
General Electric to invest in green tech

The chairman and chief executive of General Electric is expected to unveil a plan on Monday that will have the U.S.-based corporation investing in and developing technology aimed at reducing the environmental impact of industry.

The announcement is scheduled to come in a speech at George Washington University in Washington, D.C.

The plan is for the company to invent “green” technologies; to facilitate this, GE will double its current investment in new product research.

GE will also make a commitment to reducing its production of greenhouse gasses and to make the environmental consequences of its operations known.

This move comes as the Bush administration has begun to encourage the development of environmentally friendly technologies and as other industries begin to recognize the advantages of being perceived as pro-environment.

These companies include several automobile manufacturers that are venturing into gas-electric hybrid vehicles and UK energy company BP, which has been expanding into solar power.

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