Divestment Trend Continues with GE Energy Services Start-Up ‘Current’

GE has announced the creation of Current, a start-up that combines energy hardware with a digital backbone to make power simpler and more efficient for customers. The company, which is backed by GE’s balance sheet, brings together GE’s LED, solar, energy storage and electric vehicle businesses as a one-stop shop for early customers like Walgreens, JPMorgan Chase, and Hilton Worldwide among others. Current reflects GE’s shift toward new business models that address customers’ end goals. Instead of selling separate energy products, Current will combine power offerings as a service and reduce cost for companies by simplifying energy and providing improved efficiency. It will use GE’s Predix software platform to collect data and help customers understand how they’re using, and losing, energy. The goal is to cut waste for customers who, for example, power millions of square feet of factory space, commercial office space or retail operations. The services are projected to save customers 10-20% on […]

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