GE’s New Ecomagination Chief: Green Tech Innovation Goes Global
Six months ago, Mark Vachon took over as head of General Electric’s ecomagination, the conglomerate’s $5 billion green technology and sustainability initiative. Tellingly, he says he’s spent about three-quarters of that time traveling outside the United States.“As the whole global dynamic shifts to the fastest-growing economies not being here, it’s just a big wake-up call to stay relevant,” Vachon told me in a conversation at the Lux Executive Summit n Boston Monday evening. “There are huge opportunities in China, Brazil, the Middle East.” “I did presentations in Abu Dhabi and Dubai,” he added. “It’s just fascinating to be in this fossil-fuel Mecca and be surrounded by this concerted effort to shift to renewables. That’s incredible.” To continue reading about Vachon’s perception on GE staying relevant, click here. Building GE's Ecomagination 'ecosystem' (Q & A) BOSTON--In one respect, green-tech companies are realizing what IT manufacturers did many years ago: just selling a box will only go so far. To get a high volume of products sold, technology suppliers need to combine hardware with software and with consulting services to solve a problem. This idea of developing a "solution" around energy-related gear is high on the mind of Mark Vachon, vice president of Ecomagination at General Electric. To do that, there needs to be an "ecosystem," or network, of partners who can pull the various pieces together. Launched six years ago, the Ecomagination initiative is essentially a business proposition stating that there will be greater and greater competition for natural resources, which will drive demand for renewable energy and goods that improve energy and water efficiency. In five full years, GE has made $70 billion from Ecomagination-tagged products, which can be everything from wind turbines to hybrid locomotives to electric car charging ports. To continue reading this interview with Vachon, click here. About GE
GE (NYSE: GE) is an advanced technology, services and finance company taking on the world’s toughest challenges. Dedicated to innovation in energy, health, transportation and infrastructure, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.
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