GE Power & Water employs more than 350 at the Trevose headquarters and labs of its $2.5 billion/annual sales, 7,500-employee Global Water and Process Technologies business, and the engineers who run the group expect more business for customers in the region (revised) as the exploitation of Marcellus Shale gas and other fuels increases, chief executive Heiner Markhoff told a group of energy scholars and GE clients at the University of Pennsylvania’s Wharton School on Thursday.
“The shale revolution is really changing the world,” Markhoff said. “We thought we’d be out of fossil fuels,” but scientists now expect shale gases and oil to last for centuries. He noted that shale fuel has sparked construction of “the first new petrochemical complex in Texas in a long time,” with plans for more in Virginia and wetsern Pennsylvania.
“With great opportunity comes great responsibility, too,” Markhoff added, citing the large volume of chemically-treated water needed in hydraulic “fracturing” that forces fuel to the surface through deep wells. GE sees opportunity in building more efficient, less polluting water systems to support energy extraction.