GE gets the current flowing with new firm
Current, funded through GE, will focus on improving customers’ energy efficiency, along with analysing energy consumption and providing consumers with data around patterns and needs, while also providing recommendations to firms such as reducing consumption during peak hours, generating power on site and creating new revenue streams for customers through the use of sensors and networked systems.
The new company will use Predix, GE’s cloud-based platform for the Industrial Internet, to generate the tailored data, while also using a business portfolio which includes sensor-enabled hardware, software, fulfilment, product management and financing solutions.
The firm aims to help customers save an estimated 10-20 per cent on their energy bills, while also helping utility partners better manage their distributed load.
Current’s European and Middle Eastern operations are set to be led by Pete Lau (right), who has been appointed CEO for Europe and the Middle East after gaining more than 15 years of commercial and operations leadership experience for GE, with Lau moving on from his most recent role in the company as General Manager of Global Sourcing and LED Fulfilment.
Lau will be based in Current’s new European Commercial Leadership Office at The Ark in London, which GE say was chosen “because of London’s position as an international business hub for start-ups and technology companies.”
Lau commented: “Current brings the union of energy efficient hardware and software to market in a way that will change the face of energy provision forever. I am looking forward to helping customers across the region create a robust strategy to further their business objectives while reducing waste and costs and transforming the way industry chooses and consumes energy.”
