There’s a New Current Flowing Through the Middle East
There’s little doubt that solar energy, electric vehicles, energy storage and LED lights qualify as four of the most exciting fields sitting at the intersection of technology and energy. Today, there’s a new company operating across all these sectors and it’s just launched its Middle East operations.
Called “Current, powered by GE,” it’s an exciting new startup whose technology focus overlaps with some of the region’s highest-priority issues, including climate change and the urgent need for businesses to improve energy efficiencies across their operations.
Drawing on its competences, Current is developing new energy-efficient models that will help customers change the way they manage energy. Using a mix of hardware and software based on Predix, GE’s cloud-based platform for the Industrial Internet, Current’s solutions will help customers save an estimated 10%-20% on their energy bills, and help utilities better manage their distributed load.
Using advanced software running on Predix, Current will analyse power consumption and provide customers with data around patterns and needs, along with recommendations to increase efficiency – from reducing consumption during peak hours, to generating power on site, to creating new revenue streams for customers through the use of sensors and networked systems.
Current’s global headquarters are in Boston – a thriving hub for renewable energy with tremendous access to high-tech and software development talent– while its Europe and Middle East Commercial Office is at The Ark in London – an international business hub for start-ups and technology companies.
“Current brings the union of energy efficient hardware and software to market in a way that will change the face of energy provision forever,” says Peter Lau, Current’s CEO for Europe and the Middle East. “I am looking forward to helping customers across the region create a robust, holistic strategy to further their business objectives while reducing waste and costs and transforming the way industry chooses and consumes energy.”
The company’s areas of business include helping customers develop and deploy energy strategies and solutions by assessing and analyzing their energy use and its effects on operations, and providing products and solutions that can unlock new revenue streams through the use of sensors and networked systems. Examples of the company’s intelligent technologies include networked LED street lamps that could direct drivers to available parking spaces, monitor air quality and broadcast environmental alerts and give emergency responders real-time views of an area before they even arrive on scene, in addition to a variety of other outcomes.
Current’s holistic energy-as-a-service offering includes sensor-enabled hardware, software, fulfillment, product management and financing solutions for commercial and industrial and municipal customers.