GE LAUNCHES GLOBAL ECOMAGINATION INNOVATION CHALLENGE TO REDUCE GHG EMISSIONS IN CANADA'S OIL SANDS

Calgary, Canada, July 8, 2014 -- GE (NYSE: GE) today announced the launch of an up to CAD$1 million ecomagination open innovation challenge to help accelerate technology development in Canada's oil sands. The Innovation Challenge will target two of the biggest opportunities to reduce green-house gas (GHG) emissions in the oil sands: new uses for waste heat and improved efficiency of steam generation.

GE is calling for the best global minds, within and outside the industry, to help develop solutions that can be scaled and commercialized within the industry. The Challenge is in two parts, with submissions due September 30, 2014 and March 15, 2015 respectively. Winners of the Challenge can potentially share up to CAD$1 million in seed funding to further develop and commercialize the proposed solutions and will be eligible to become a supplier or contractor to GE on future projects.

GE LAUNCHES GLOBAL ECOMAGINATION INNOVATION CHALLENGE TO REDUCE GHG EMISSIONS IN CANADA'S OIL SANDS