GE puts emphasis on wastewater
Giant attempts to grab larger slice of estimated US$5bn market
GE’s chief executive has outlined plans to bolster research and technology development in wastewater reuse by 50% in the next two to three years as it tries to gain a larger foothold in what is estimated to be a US$5 billion sector globally.
Part of the spending will include new research centres in Saudi Arabia and Singapore. The move follows Dow Chemical Company’s decision to invest in a joint research framework at the King Abdullah University of Science and Technology (KAUST) in Riyadh.
“We think it’s going to be a great business not only in the U.S. but in China,” where much of the country has limited access to water, said chief executive Jeffrey Immelt, in remarks reported by Bloomberg.
“The entire Middle East is constrained. So this is a problem that’s shared broadly.”
While no spending targets have yet been revealed, a senior executive told the newswire that GE sees wastewater and reuse as the “biggest opportunities” for growth.