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GE to spend another $10 billion on energy research by 2020 Published: February 24, 2014

General Electric Co plans to intensify research focusing on complex energy projects such as waterless fracking and gas turbine efficiency by earmarking an additional $10 billion through 2020 for its "ecoimagination" budget, Reuters reports.

The company is building an oil and natural gas research center in Oklahoma City.
Its research budget shows how reliant GE has become on the energy industry, its fastest growth area, as it works to become a dominant supplier of equipment and services to oil, natural gas and alternative power companies at a time when the United States undergoes an unprecedented energy boom.

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