GE Combines Technologies into New Energy Efficiency Company

GE Combining Business

General Electric Co.has launched a new company, Current, that will integrate GE’s LED, solar, energy storage and electric vehicle businesses with GE’s growing data and analytics platform. The goal: to help clients lower their energy bills and better manage power distribution.Through analyzing energy consumption, says GE, it can save customers 10-20% on their energy bills.

To be headed up by GE Lighting President Maryrose Sylvester, will begin with US$1 billion in revenue, and is expected to grow to US$5 billion by 2020, GE said.GE Lighting will continue to sell LED bulbs as well as other products to consumers, a GE spokeswoman said.

GE describes its new strategy as “the future of energy.” Here’s more:

“Imagine using the most advanced technologies to make real-time decisions about your energy use. Imagine intelligent environments where buildings can generate power on site, or on the grid through networked lighting. Imagine smart cities configured with eco-friendly LED lighting systems networked with sensors…

Current, powered by GE, will meet the unique needs of a wide range of utility, Commercial & Industrial and municipal customers and provide them with Predix enabled hardware and software they need to be more reliable, efficient, and profitable. Current will deliver a combination of financing with GE’s physical and digital capabilities across energy efficiency, solar, storage, and onsite power.”

Find out more: http://www.currentbyge.com.

 

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