GE STRIKES DEAL TO INSTALL LED LIGHTING AT 5,000 J.P. MORGAN BANK BRANCHES
Posted on February 21, 2016
Under the deal, Current will replace some 1.4 million existing lights with LEDs, covering 25 million square feet, over the coming two years. The deal also is a shot in the arm for Current, which is based in Boston headed up by Maryrose Sylvester, Current’s CEO. The company is experimenting with offering lighting as a service–customers would pay Current a monthly rate for which GE would provide the lighting. The offering is another sign of GE’s efforts to move away from commoditized businesses–such as making and selling lightbulbs–and toward industrial businesses, where it can leverage its scale and provide investors with consistent earnings from industrial business lines.
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