GE has established Current, a Massachusetts-based company that will integrate its LED, solar, energy storage and electric vehicle (EV) businesses.
Maryrose Sylvester, currently president and CEO of GE Lighting, will lead the new enterprise. Current will begin with more than $1 billion of revenue and build on GE's foundation in the energy and technology sectors. Key customers include Walgreens, Simon Property Group, Hilton Worldwide, JPMorgan Chase, Hospital Corp. of America, Intel and Trane.
‘Current combines GE's products and services in energy efficiency, solar, storage and on-site power with our digital and analytical capabilities to provide customers – hospitals, universities, retail stores and cities – with more profitable energy solutions,’ says Jeff Immelt, chairman and CEO of GE. ‘The creation of a new company within GE reinforces our commitment to take energy to the next level, focusing on custom outcomes for our commercial and industrial customers, municipalities and utility partners, and delivering a platform that can be upgraded as technology advancements are made.’