GE ECOMAGINATION INSPIRES MALAYSIANS TO DIVERSIFY RAW WATER SOURCES THROUGH HIGHLY ACCLAIMED OPEN INNOVATION CHALLENGE

Kuala Lumpur, Malaysia; May 20, 2014: GE ecomagination and Aramco Entrepreneurship launched an open global technology challenge recently to accelerate the development of solutions focused on improving the energy efficiency of seawater desalination. Four winners will be awarded with the prize of US$50,000 (RM161,000) each, bringing the total grant for the challenge to US$200,000 (RM644,000). Beyond this, the best ideas may also stand the chance to receive further investments towards commercialization by GE.

The open innovation challenge aims to identify new solutions to lower total desalination costs and emissions through cleaner energy sources; incorporating advanced materials; and integrating processes better. Solutions must be innovative, impactful, feasible and scalable across the globe.

Efforts to create this challenge are in line with GE’s innovation in its ‘Water and Process Technologies’ business. With more than 80 years of membrane and design experience, GE’s desalination technology is one of the advanced options available to diversify raw water sources as it provides comprehensive solutions that convert seawater into fresh water. Such innovations are highly applicable in Malaysia, as hot and dry spells coupled with waste and population growth have resulted in increased risk of water scarcity as. Therefore, seawater desalination poses a good option to diversify the country’s raw water sources from its primary source of water catchments.

Noting that it is vital for customers in water-scarce regions to achieve and maintain low operating costs Stuart L. Dean, Chief Executive Officer, ASEAN GE Global Growth & Operations said, “At GE, we are committed to supporting the growth of an innovation ecosystem that leverages our global scale while also allowing us the flexibility and drive to address local needs. Considering the recent water scarcity in Malaysia, this is the best time for individuals out there to challenge this issue by sharing their ground-breaking ideas of how we can address the mounting water crisis not only in Malaysia but also globally”.
 
Over the years, GE has spurred many innovation challenges that encourages continual learning, new ideas and thinking to improve innovation processes and deliver advanced solutions that solve today’s environmental challenges whilst benefitting society at large. The goal of this challenge is to identify novel ways to lower these costs in Malaysia and around the world, either through technology advances, process improvements, or both.

Deb Frodl, GE’s Global Executive Director, GE ecomagination said, “GE ecomagination is investing to speed up the development of more sustainable solutions for water desalination. Through this challenge, we hope to inspire scientists, engineers, entrepreneurs, and innovators in Malaysia and around the world to bring their talents to this effort and help drive greater outcomes for customers.”

Entries are being immediately accepted at www.ninesights.com/community/ecomagination. The deadline to submit entries is July 16, 2014, and winners will be announced in November 2014.

The challenge is the fifth ecomagination open innovation challenge since ecomagination launched in 2005. GE has a successful history with open innovation challenges; most recently launching an advanced manufacturing challenge to use 3D printing to improve the production of a GE aircraft engine bracket and two healthcare challenges to advance work in breast cancer and traumatic brain injury diagnosis.

Since its 2005 launch, ecomagination – the company’s commitment to technology solutions that save money and reduce environmental impact for its customers and GE’s own operations – has generated more than US$160 billion (RM515 billion) in revenue. GE’s own operations have seen a 34 per cent reduction in greenhouse gas (GHG) emissions since 2004 and a 47 per cent reduction in freshwater use since 2006, realizing US$300 million (RM966 million) in savings. Building on this success, in February 2014, GE renewed its ecomagination focus by committing to reduce GE’s GHG emissions and freshwater use by 20 per cent, from the 2011 baseline, by 2020 and announcing the continuation of GE’s R&D investment committing to invest an additional US$10 billion (RM32.3 billion) in ecomagination technologies to reach a total investment of US$25 billion (RM80.5 billion) by 2020.

GE signs Memorandum of Collaboration with Tune Hotels for sustainable development globally

General Electric (GE), a global innovative, high-tech infrastructure and financial services company, and Tune Hotels, the pioneering value hotel brand, sign an agreement to explore collaborative opportunities

KUALA LUMPUR, MALAYSIA – September 9, 2011 – General Electric International Inc (NYSE:GE) and Tune Hotels, the pioneering value hotel chain under Tune Group, signed a Memorandum of Collaboration (MoC) today to explore opportunities on sustainable developments. The MoC was signed by Chief Executive Officer of GE ASEAN, Stuart Dean, and Group Chief Executive Officer of Tune Hotels, Mark Lankester, to identify opportunities for collaboration with the aim of achieving cost savings and energy efficiency in Tune Hotel’s operations globally.
From left: Chief Executive Officer for Asia, GE Lighting - Mohamed Butt; Chief Executive Officer of GE ASEAN - Stuart Dean; Minister of Energy, Green Technology and Water Dato’ Sri Peter Chin; Group Chief Executive Officer of Tune Hotels - Mark Lankester; and Chief Financial Officer of Tune Hotels - Mitul Lakhani.

The signing was witnessed by Dato’ Sri Peter Chin, Minister of Energy, Green Technology and Water, with Mohamed Butt, Chief Executive Officer for Asia, GE Lighting and Mitul Lakhani, Chief Financial Officer of Tune Hotels also present at the ceremony.

Stuart Dean expressed GE’s commitment to working with local partners to develop environmentally driven business strategies that will help drive Malaysia towards becoming a high income nation.

“Our partnership with Tune Hotels demonstrates GE's commitment to accelerate the development and deployment of innovative technologies through open collaboration. Using our ecomagination & GE Sustainable Cities approach, we have been building sustainable developments certified by various Green Building Certification programs in multiple jurisdictions across the globe, powered by our new technologies and solutions. We hope to contribute and share our expertise across the spectrum of products and services we offer and work with Tune Hotels to achieve the desired impact for its operations,” he said.

“This collaboration is a testament of GE’s commitment to support the Malaysian Government’s aspirations to promote efficient green solutions,” he added.

Under the agreement, GE’s role will be to assist Tune Hotels in reviewing, planning and designing properties by contributing its knowledge and expertise in the areas of low-cost operational modeling, sustainable development, cost-saving infrastructure, energy efficiency and green technology. The collaboration will also help Tune Hotels work towards achieving relevant eco-building certifications such as with Malaysia’s Green Building Index, the Singapore Building and Construction Authority’s BCA Green Mark and the US Green Building Council’s Leadership in Energy and Environmental Design rating system.

The agreement will also explore the development and implementation of sustainable energy solutions within Tune Hotels’ operations and allow them to leverage GE’s ecomagination™ line of products and cutting-edge technologies in creating environmental solutions for both their existing and upcoming projects.

GE has previously announced collaborative agreements with local partners in Malaysia including top public and private companies from a diverse range of industries. Some more notable partnerships include NAZA, PETRONAS, TNB, Malaysia Airlines, AirAsia, and Sapura.

Tune Hotels’ Group CEO Mark Lankester said: “Tune Hotels has been in consistent pursuit of green technologies and eco-friendly approaches to ramp up our service and business efficiency. Having pioneered the pay-as-you-use concept that has gained huge popularity amongst travellers and holidaymakers from across the world, we are proud to be working with GE on exploring environmentally driven business strategies. This will not only benefit our business but more importantly our guests who can look forward to enjoying further savings and convenience.”

Tune Hotels, which is part of the lifestyle conglomerate Tune Group currently has 13 hotels in its global network. Its 10th Malaysian hotel is opening in Kulim, Kedah later this month, on top of 2 hotels in Bali, Indonesia and one in London, England. More Tune Hotels are scheduled for opening in Thailand, the Philippines, Indonesia, the UK, India and Malaysia from Q4 this year through 2012.

Known for innovation and technological exploit, Tune Hotels was recently named among Top 20 Most Innovative Brands in Indonesia by MIX magazine, the country’s leading marketing communication publication. Standing at number nine, Tune Hotels was the only hotel brand on the list. Tune Hotel Westminster in London was awarded a Certificate of Excellence by the world’s largest travel website TripAdvisor, as a “result of consistently great feedback” from the hotel guests while the guide portal About.com ranked Tune Hotel Westminster at No 1 among Top 10 Cheap London Hotels.

Tune Hotels is part of the lifestyle business conglomerate Tune Group that was founded by Tan Sri Tony Fernandes and Dato’ Kamarudin Meranun. Tune Group seeks to innovate and revolutionize the way services are made available and has employed efficient web-based technologies to reach and engage its customers, presenting a unique lifestyle offering ranging from value hotel stays, personal finance solutions and affordable prepaid mobile services. Tune Group of Companies are Tune Air, Tune Hotels, Tune Money, Tune Talk, Tune Box, Tune Studios, Tune Tones, Team Lotus, ASEAN Basketball League, Queens Park Rangers Football Club (QPR) and Kuala Lumpur Education City (owner of Epsom College in Malaysia).

GE Launches ‘Healthymagination’;Will Commit $6 Billion to Enable Better Health Focusing on Cost, Access and Quality

MALAYSIA - May 12, 2009 – GE announced that it will spend $3 billion over the next six years on healthcare innovation that will help deliver better care to more people at lower cost. In addition, the company will commit $2 billion of financing and $1 billion in related GE technology and content to drive healthcare information technology and health in rural and underserved areas. These investments are the foundation of GE’s healthymagination initiative, which is built on the global commitments of reducing costs, improving quality and expanding access for millions of people.

Under healthymagination, by 2015 GE will:

Invest $3 billion in research and development to launch at least 100 innovations that lower cost, increase access and improve quality by 15 percent. GE will also apply its expertise in services and its suite of performance improvement tools for impact in these areas. These actions will strengthen GE Healthcare’s business model.

Work with partners to focus innovations on four critical needs to start: accelerating healthcare information technology; target high-tech products to more affordable price points; broaden access to the underserved; and support consumer-driven health.

Expand its employee health efforts by creating new wellness and healthy worksite programs while keeping cost increases below the rate of inflation.

Increase the “value gap” between its health spend and GE Healthcare’s earnings to drive new value for GE shareholders.

Engage and report on its progress. GE will engage experts and leaders on policy and programs and create a GE Health Advisory Board, which will include former U.S. senators Bill Frist and Tom Daschle and other global healthcare leaders.

Healthymagination will draw on capabilities from across GE, including GE Healthcare, GE Capital, GE Water, NBC Universal, the GE Global Research Center as well as the GE Foundation, the philanthropic arm of GE.

“Healthcare is an important industry that is challenged by rising costs, inequality of access and persistent quality issues,” GE Chairman and CEO Jeff Immelt said. “Healthcare needs new solutions. We must innovate with smarter processes and technologies that help doctors and hospitals deliver better healthcare to more people at a lower cost.

“Healthymagination is our business strategy that seeks to help people live healthier lives, support customer success and help GE grow,” Immelt said. “We will invest in innovations that measurably improve cost, access and quality. That means lower-cost technology for more customers, products matched to specific local needs and process expertise to help customers win.

“This reflects the new opportunities we see in healthcare,” Immelt said. Our newest innovations – low-cost digital x-ray machines, portable ultrasounds, more affordable cardiac equipment – will save costs for doctors, hospitals, the government, families and businesses. This will help level the playing field in health care. With our technology, rural and urban areas and developing countries can have access to the best technology, affordably.

“We saw the same type of tipping point four years ago when we launched our successful environmental initiative, ecomagination,” Immelt said. “We learned that technical innovation can drive solutions and value for customers, investors, employees and the public. We will bring the same integrated approach to healthcare, focusing all of our expertise, labor and imagination on its success.”

GE Healthcare President and CEO John Dineen said, “This is the right time to reposition our healthcare business, given the changes and challenges in the industry. Our customers are looking for productivity and solutions. We will focus on the products, the process excellence and the partnerships that broaden access to healthcare and reduce its cost.”

Former U.S. Senator Tom Daschle, who will serve on GE's healthymagination advisory board, said, “We can only find real solutions in health care when business, government and their partners work together. The commitments GE made today on access, cost, and quality are a great start toward demonstrating their leadership in this debate. I look forward to working with them.”

INNOVATIONS FOCUSED ON COST, ACCESS AND QUALITY

GE will more than double its research and development spending on healthymagination products, totaling $3 billion by 2015, meaning at least half of GE Healthcare’s spending will be on innovations that:

Reduce by 15 percent the cost of procedures and processes with GE technologies and services.
Increase by 15 percent people’s access to services and technologies essential for health, reaching 100 million more people every year.
Improve quality and efficiency by 15 percent for customers through simplifying and refining health care procedures and standards of care.

In addition to the $3 billion spend by GE Healthcare, GE Capital will provide $2 billion in financing for advancing healthcare IT and several GE businesses will spend $1 billion over the next five years for partnerships, media content and services related to healthymagination.

Oxford Analytica, an independent, Oxford-based international research and consultancy firm, is reviewing GE commitments in products and services innovations to determine if they meet healthymagination standards. To date, Oxford Analytica has qualified seven GE products that yield 15 percent improvement in cost, access and quality, with 20 more in the pipeline. GE’s goal is to qualify 100 healthymagination innovations by 2015.

FOR CUSTOMERS

GE will work with partners to address four critical healthcare needs to start:

Target technology toward lower-cost outcomes – To reduce the impact of technology on costs, GE is broadening the way it develops new products. GE today announced two new initiatives:

GE will launch 50 low-cost products that offer powerful technology capabilities with simple operation and application targeted to achieve 15 percent lower cost, on average. These “only what is needed” products will be tailored to areas where access to healthcare technology is limited.

GE’s Performance Solutions service business has set a target of $1 billion in reduced cost for customers over the next five years to help hospitals become more efficient through process redesign.

Make health IT faster and more productive – GE will seek to increase the use and capability of electronic medical record (EMR) technology and other information technology that speed communications, limit variation and control costs. GE today announced two new initiatives:

GE, Intermountain Healthcare and the Mayo Clinic have developed physician decision support through IT in the form of evidence-based care and today said they will launch it commercially in 2010. This system provides access to the highest standards of care, anywhere.

GE Capital will provide $2 billion in financing to help health providers in rural and underserved areas get access to more innovation that improves health and reduces the cost of care. GE will focus financing to assist in the adoption of EMRs and health information exchanges (HIEs).

About half of those practicing medicine in the U.S. do not have access to these technologies. GE’s financing will help healthcare systems adopt EMR and HIE before 2011 in time to qualify for federal financial incentives. By accelerating EMR and HIE adoption, GE expects to help remove $28 billion in cost from the health system while improving access to better and more affordable care.

Create innovation for all – More than two billion people do not have access to basic elements of a healthy life such as clean water or the ability to see a doctor or visit a health clinic. To address this need, GE has created a suite of maternal and cardiac care products for rural and developing markets. GE today announced two new efforts:

GE will expand its maternal infant care product offerings by 35 percent and will invest and scale its work with Grameen Bank to 10 countries by 2015. GE previously partnered with the Nobel Prize-winning organization and has now agreed to the joint goal of creating a sustainable rural health model that reduces maternal and infant mortality by more than 20 percent.
GE, through its Developing Health Globally initiative, is expanding the number of public health clinics it supports in developing markets from 30 to 100, starting with six new clinics in Cambodia in 2009.

Facilitate consumer-driven health and prevention – Chronic diseases like diabetes and hypertension kill 1.7 million Americans a year – affecting seven out of every ten people. The cost of managing these diseases is rising rapidly. To help address these needs, GE recently announced a partnership with Intel to provide products to remotely monitor the health of seniors and those with chronic conditions. GE also announced these new initiatives:

NBC Universal and NBC News will make a significant commitment to bring timely, actionable health and wellness content to consumers in the form of more than 5,000 televised reports annually on health and wellness and companion online tools.

MSNBC will launch a new, daily program dedicated solely to health information, beginning in June. The program will be anchored by health expert and NBC News Chief Medical Editor, Dr. Nancy Snyderman. She will tackle everything from health and wellness tips and medical breakthroughs to in-depth looks at health policy.

The renowned Cleveland Clinic will join with GE and NBC to conduct research that seeks to better understand important factors that move consumers from being aware of a health condition via the media to actually changing their behaviors for the better.

For employees
GE Vice Chairman John Rice will lead an effort to create an innovative culture of health to help improve the health of GE’s employees and retirees and to contain costs. GE will partner with governments and other companies to build a “healthy work site” certification program. GE will turn its 175 health centers into wellness clinics and increase the use of employee incentives and decision support for health and prevention. It will provide personal health records to employees to identify health risks and track behaviors. GE also will make its worksites smoke-free.

As a result of these efforts, GE will seek to lower the growth of its healthcare costs below the rate of inflation. This should make many of these sites more competitive in global markets.

“We’re going to get better at promoting employee health at the 600-plus GE locations around the world,” Rice said. “By making the well-being of our employees a priority and giving employees the tools they need to make healthy choices, we’re going to control our own costs.”

For investors
Like ecomagination, GE believes its healthcare initiative will be good for investors. Healthymagination is designed to position GE Healthcare to grow organically over the long term at 2 to 3 times GDP. In addition, GE has a positive healthcare “value gap” of $500 million. This is the difference between earnings in GE Healthcare and employee healthcare costs. GE plans to grow this gap in the future as it drives innovations that solve customers’ problems and create healthier and more productive work sites.

For the public
GE announced today the formation of GE Health Advisory Board, which will include membership by former U.S. Senators Bill Frist and Tom Daschle and other healthcare experts such as Dr. Devi Prasad Shetty, chairman of Narayana Hrudalaya, a cardiac care hospital in Bangalore, India. The board will advise GE on its health efforts, investments and policy and will participate in regular public reporting on GE’s performance.

Immelt said, “Healthymagination initiative is consistent with our global growth strategy of aligning our businesses with the greatest growth opportunities of the next decade. Our focus on the environment and affordable healthcare will be our pillar strategies for growth into the next decade.”

For more details about healthymagination, visit www.healthymagination.com/news. Follow the conversation today on Twitter at #GEhealth or @GE_reports.