Current (company)
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| Subsidiary of General Electric | |
| Industry | Energy |
| Founded | October 7, 2015 |
| Headquarters | Boston, Massachusetts, United States |
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Area served
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United States |
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Key people
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Maryrose Sylvester (CEO) John Irvine (CFO) |
| Parent | General Electric |
| Website | www |
Current, branded as Current, powered by GE, is a company that sells energy management systems. It was established by General Electric on October 7, 2015, as a startup subsidiary. It began with more than $1 billion of revenue with the expectation to grow the business to a $5 billion business by 2020.
It is headquartered in Boston, Massachusetts with additional presence in San Ramon, California and Cleveland, Ohio. The company CEO is Maryrose Sylvester, who previously was President & CEO of GE Lighting.
On April 21, 2016, Current acquired the building automation company Daintree Networks for $77 million. The plan is to combine Daintree's open-standard wireless network with GE’s open source platform Predix to offer a new energy management system to businesses.
Current announced working with seven global companies, including Hilton, Simon Properties, and the City of San Diego. The company has also partnered with other such companies as AT&T, Intel, and Qualcomm.
It also within the first 5 months secured the world's largest LED installation with JPMorgan Chase. Under the deal, Current will replace 1.4 million existing lights at 5,000 of JPMorgan Chase's bank branches with LED lighting. The replacement is expected to reduce the lighting-related energy used at these branches by 50 percent.
For the 2016 Summer Olympics in Rio de Janeiro, Current provided 200,000 energy-efficient lights at more than 40 Olympic venues (over 46 million square feet in total), reducing 50 percent of the energy costs.
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Wikipedia