General Electric has reshuffled several energy management and research operations into a new subsidiary called "Current" aimed at new energy technologies, the company announced Wednesday. The new unit, which integrates lighting, solar, energy storage and electrical businesses, will work with clients to analyse energy use and provide suggestions on boosting efficiency.
"It will bring to market a holistic energy-as-a-service offering absent from industry today that includes sensor-enabled hardware, software, fulfilment, product management and financing solutions," GE said. GE chief executive Jeff Immelt said the new unit combines GE products and services in onsite power, energy storage and digital to "provide customers - hospitals, universities, retail stores and cities - with more profitable energy solutions."