GE launches energy efficiency subsidiary

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, product management and financing solutions." GE CEO Jeff Im melt said the new unit combines GE products and services to provide customers with more profitable energy solutions.