July 21, 2010
FARNBOROUGH AIR SHOW -- GE Aviation's OnPointSM
Fuel & Carbon Solutions has been added as the newest product in GE's ecomagination portfolio, joining other Aviation ecomagination products -- the GEnx and GE90 engines, CFM56-3 Advanced Upgrade, CFM56 Tech Insertion and TrueCourseTM
Flight Management System. Adding to this existing line up of ecomagination aviation products, OnPoint Fuel and Carbon Solutions could reduce fuel spend by na average of three percent and represents the intellectual capital, information technology and optimizations services that are a new phase of ecomagination products and services.
"GE Aviation's new Fuel and Carbon Solutions offer data-driven solutions that will help our customers with their fuel conservation efforts and provide a significant savings on their operating costs," explains Tom Gentile, president and chief executive officer of GE Aviation Services. "The existing bench of GE's aviation ecomagination products have demonstrated value as cost-effective technologies that enhance customer's environmental and operating performance. However, this newest ecomagination product demonstrates new value we are offering to customers through data and software solutions."
With today's announcement, OnPoint Fuel and Carbon Solutions joins a list of more than 90 other ecomagination products. In order to receive approval, a product is evaluated for its ability to significantly and measurably improve the customer's environmental and operating performance. The rigorous, multi-tiered review and qualification process is concluded with a third-party audit to ensure accuracy and thorough documentation of technological performance.
Fuel typically accounts for about 30 percent of an airline's expenses. With volatility in fuel prices over the last two years, airlines are looking for ways to manage this major portion of their cost base more effectively. The OnPoint Fuel and Carbon Solutions uses proprietary decision software and fuel consulting expertise to help customers identify and track operation improvements that could reduce their fuel spend by an average of three percent. GE launched the offering earlier this year with GOL Airlines.
GE's OnPoint Fuel and Carbon Solutions deliver solutions through:
Operational evaluation: Identify and collect data on the airline's current fuel and carbon reduction programs, and quantify where the customer is today.
Customized solution design: Further analyze data to isolate and prioritize potential improvements.
Implementation support and verification: Work with customer to implement changes, and then measure and validate savings.
GE Aviation, an operating unit of GE (NYSE: GE), is a world-leading provider of jet and turboprop engines, components and integrated systems for commercial, military, business and general aviation aircraft. GE Aviation has a global service network to support these offerings.
About GE's ecomagination
GE is driving a global energy transformation with a focus on innovation and R&D investment to accelerate the development and deployment of clean energy technology. Since its inception in 2005, more than 90 ecomagination-approved products have been brought to market with revenues reaching $18 billion in 2009. With $5 billion invested in R&D its first five years, GE committed to doubling its ecomagination investment and collaborate with partners to accelerate a new era of energy innovation. The company will invest $10 billion in R&D over five years and double operational energy efficiency while reducing greenhouse gas emissions and water consumption. As part of the initiative, GE launched 'GE ecomagination Challenge: Powering the Grid", a $200 million financial commitment challenging innovators to join in building the next-generation power grid. For more information, visit the ecomagination website at http://www.ecomagination.com