Fairfield, Conn.—General Electric Co. announced Monday a new initiative based on developing and marketing environmentally sound products.
The "Ecomagination" initiative was announced in a speech by GE Chairman-CEO Jeff Immelt.
"Increasingly for business, ‘green is green,’ " Immelt said. "We will focus our unique energy, technology, manufacturing and infrastructure capabilities to develop tomorrow’s solutions such as solar energy, hybrid locomotives, fuel cells, lower-emission aircraft engines, lighter and stronger materials, efficient lighting and water purification technology.
Under the program, GE said it will double investment in research and development from $700 million in 2004 to $1.5 billion annually by 2010.
An integrated advertising and communications plan was launched Monday. It will include broadcast, print and online advertising. Ads appeared in Monday’s Wall Street Journal Online.