GE’s Ecomagination Making A Difference?

[Editor’s Note: A previous version of this story had several inaccurate statements, so the story has been rewritten to reflect correct information regarding GE’s ecomagination program. EarthTechling regrets the errors previously included.]

GE is certainly no slouch when it comes to investing in clean technologies. The large conglomerate recently released its latest ecomagination report [PDF], highlighting what it was doing in this space, and we have to say we are wowed a bit by the reported nearly $1.8 billion spent on R&D in cleantech last year alone.

GE said in its report that this investment puts it on course to meet its goal of $10 billion cumulative investment between 2010 and 2015 in cleantech R&D. Focusing more on the here and now for the moment, it was noted that this investment as well helped with the development last year of 22 new GE created technologies that range from home energy management devices to electric vehicle chargers. This takes GE’s ecomagination portfolio up to 110.

GE Nucleus

image via GE

Just in case anyone thinks the money GE spent on cleantech was a waste, consider this: the company reported that during the year it generated $18 billion in revenues from ecomagination products, and it has thus far surpassed $85 billion in sales since the program began in 2005.

Notable environmental data points from GE’s ecomagination operations for 2010 include reducing its energy intensity nearly 33%, reducing GHG emissions 24% and reducing water use by 22% from a 2006 baseline. What’s interesting to know from this on the GHG and water usage is that the company actually saw a slight downturn from progress previously made in these areas, but believes it will bounce back.