By Andrew Nusca
Posting in Energy
GE plans to partner with Chinese firms on technology ventures for its clean energy, aviation and rail transportation divisions.
General Electric on Wednesday announced that it plans to sign agreements with Chinese partners this week to partner on technology ventures for its clean energy, aviation and rail transportation divisions.
The deals total more than $2 billion in revenue for GE, and are expected to generate more than $1 billion in exports from the U.S. -- not bad for the nation’s second-largest manufacturing exporter.
They also demonstrate the increasing economic interdependence between the U.S. and China.
A quick summary of the deals:
- GE Energy is partnering with the Shenhua Group to develop coal gasification technologies in China, which are important for commercial-scale deployment of cleaner coal plants.
- GE Energy and China Huadian Corp. are working together to develop distributed energy combined heat and power (DECHP) projects, which GE expects to become the most efficient natural gas solutions for China.
- GE Transportation signed a letter of intent with China's Ministry of Railways to provide $350 million worth of U.S.-built locomotives, locomotive sub-assembly kits, service support and signaling systems for China's railway upgrade.
- GE Transportation signed a letter of intent with the Ministry of Railways to reaffirm both firms' intent to collaborate on high-speed rail and electric rail opportunities in North America.
- GE Aviation and Aviation Industry Corporation of China will jointly develop and market a new generation of avionics systems, with a priority on the development of China's first home-grown large passenger jet. (Some of this technology is in use for Boeing's 787 Dreamliner, the New York Times reports.)
The company also said it was selected as one of 10 companies that will participate in a new U.S.-China public-private partnership on healthcare technology and services.
GE has said publicly several times that it was looking to China for business expansion; along with indicating that the company was "back on offense," chief executive Jeff Immelt has announced plans to invest more than $2 billion in China through 2012 to expand research and development.
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- GE's next phase of Ecomagination Challenge: the home
- GE Healthcare to distribute 'infant warmers' in rural India
- Immelt: In 2011, GE goes 'back on offense'
- GE hits $6 billion target for renewable energy investments
- Fleet feat: GE's 'electric bus of the future' combines lithium, sodium battery tech
Jan 19, 2011
You might as well put the sign on the White House lawn now with the appointment of Immelt as an economic advisor to the President.
Don't let them fool you, they're partnering with them for the cheap labor, just like everyone else. It's bad enough all we can buy now is cheap Chinese made junk, now we're going to partner with them with high-tech!!! Uncle Sam is always trying to find the Chinese spies here in the U.S., then in turn we give them technology that can (and will) be used against us....
Deals like that look great in quarterly reports and the "heroes" take a bow. Unfortunately, some countries really don't want to truly partner with the West for mutual benefit. They will buy one or several units, reverse engineer it, build it for less, and then compete against you. You know the rest. .....and the "heroes".........they've moved on and it's no longer their problem. The problem doesn't go away.........it becomes our problem.
In their thirst for dollars GE might be making a major blunder in transferring jet engine technology to China. It was reported quite recently that China still has to buy jet engines for their jet fighters from Russia as they CAN'T yet make their own. One precedent that comes to mind is of Hough division of International Harvester company going bankrupt shortly after tying up with Komatsu of Japan for earth moving equipment. There may be many more. Only time will tell what happens to GE.
Many US Military planes are powered by GE engines, and now China's going to have access to GE jet technology. Lovely. Just F'n lovely.
ENERGY INDEPENDENCE The FED has doubled the money supply by printing fiat dollars backed by nothing. When OPEC sees the value of the dollar drop they raise the price per barrel and the price of gas at the pump goes up. But lower prices and American energy independence are possible if we burn America?s coal and natural gas. Why do we accept a 600 billion trade deficit with OPEC each year when America has 200- 300 years worth of natural gas and 1/4th the world's coal reserves? Government policy based on the New World Order ?Green? religion is the sole barricade to American energy independence. The doctrine of global warming maintains the status quo for OPEC and big oil; despite the fact the American people have rejected Cap & Trade. The German economy relied on coal gas during the Second World War as petroleum shortages forced Nazi Germany to develop the Fischer-Tropsch synthesis to produce synthetic fuel for aircraft and tanks. South Africa has no significant oil reserves, and relies on coal for most of its oil production. The country has a highly developed synthetic fuels industry, as well as small deposits of oil and natural gas. Sasol has been operating the Sasol-Lurgi fixed bed coal gasification process for more than fifty years, and with ninety seven units in operation still remains the world's largest commercial application of this technology. Some economic models suggest gas from coal can compete when oil sells for $55 or more per barrel. Currently oil is approximately $100 a barrel. India and China are demanding more oil every year because their economies are growing. Instead of competing for past peak OPEC oil, America should utilize coal and natural gas to declare energy independence, create American jobs and improve our balance of trade. And it makes a lot more sense to convert America's fleet to natural gas than to push electric cars with limited range. But creating an infrastructure to charge electric cars will require more coal fired electric generation. Only coal fired plants can be built quickly enough. Nuclear plants will take years to bring online. Waste Management Inc. will begin conversion of its diesel trash- hauling fleet in Vancouver later this year to compressed natural gas. The company estimates savings of 35-to-45 per cent in fuel costs Declaring American energy independence will free the USA from spending trillions on foreign wars and financing the terrorists who brought us 911. Can you imagine how many lives could have been saved and how much better America?s economy would be if the 1 trillion spent in Iraq had been spent in the USA? Global warming caused by man is not proven science despite all the government grants money doled out for the creation of supporting data! One wonders how many global cooling theories could have been purchased for the same grant money. And China is not surpassing America in clean energy development. It derives less than 1% of its energy from alternate sources. But China does utilize all of its coal and natural gas resources and has recently signed a 50 billion dollar deal to import coal from Australia and is attempting similar contract with American coal companies in the Powder River Basin. Hypocrisy: How will exporting coal to China from the US and Australia instead of burning it in America reduce CO2 or global warming? http://www.alternet.org/environment/148983/energy_companies'_ big_plans_to_exploit_the_american_west_to_feed_china's_insati able_appetite_for_coal/