General Electric Company (NYSE:GE) snagged the title of "Water Company of the Year" at the 2014 Global Water Awards. The corporation was deemed as making the "most significant contribution to the development of the international water sector" over the past year.

"[General Electric Company] works to solve the world's most complex challenges related to water availability and quality," said GE Power & Water President and CEO Heiner Markhoff in a statement today. "Our innovative team develops partnerships and delivers reliable, long-term water reuse and treatment solutions for communities, governments and industry that help our customers maximize their water and energy resources."

The awards program noted that "GE Water has transformed itself ... into the most formidable industrial water company in the world, positioned at the center of the water-energy nexus. ... GE Water has consistently placed itself at the cutting edge of innovation right across its portfolio. No one else proved so adept at turning challenges of the water-energy nexus into opportunities for corporate water users, utilities and the environment."

General Electric Company's water division made several diversified and landmark achievements last year. The company's most successful initiatives include: new membrane technology for reverse osmosis, boiler water treatment technologies, and new energy efficient wastewater treatment technologies.