Current Lighting Solutions

Current was established by General Electric on October 7, 2015, as a startup subsidiary.{{Cite web|url=http://fortune.com/2015/10/07/ge-current/|title=GE's new Current gives the Internet of Things a jolt of energy|date=2015-10-07|website=Fortune|access-date=2016-09-01}}{{Cite web|url=http://www.businessgreen.com/bg/interview/2447002/could-ges-new-start-up-current-have-the-power-to-transform-the-energy-market|title=Could GE's new start-up Current have the power to transform the energy market?|publisher=BusinessGreen|access-date=2016-09-01}} It began with more than $1 billion of revenue with the expectation to grow the business to a $5 billion business by 2020.{{Cite web|url=https://www.nyse.com/network/article/nyse-current-by-ge|title=Current by Powered GE|publisher=New York Stock Exchange|first=Dan|last=Sampson|access-date=2016-08-15|archive-date=2016-08-17|archive-url=https://web.archive.org/web/20160817025550/https://www.nyse.com/network/article/nyse-current-by-ge|url-status=dead}}

On April 21, 2016, Current acquired the building automation company Daintree Networks for $77 million. The plan is to combine Daintree's open-standard wireless network with GE's open source platform Predix to offer a new energy management system to businesses.{{Cite web|url=http://www.greentechmedia.com/articles/read/GEs-Current-Buys-Networked-Lighting-Firm-Daintree-Networks-for-77M|title=GE's Current Buys Networked Lighting Firm Daintree Networks for $77M|access-date=2016-09-13}}

On 6 November 2018, GE announced that it would sell Current to the US private equity firm American Industrial Partners. Under the terms of the sale, AIP will maintain use of the GE brand. The deal was concluded in April 2019.{{cite web|url=https://www.ge.com/reports/ge-sell-current-intelligent-environments-unit-american-industrial-partners/|title=GE To Sell Current, Its Intelligent Environments Unit, To American Industrial Partners|first=Tomas|last=Kellner|date=6 November 2018|website=GE Reports}}{{cite press release|url=https://www.businesswire.com/news/home/20181106005464/en/American-Industrial-Partners-Acquire-Current-powered-GE|title=Business Wire|website=www.businesswire.com|date=6 November 2018 }}{{cite web|url=https://www.businesswire.com/news/home/20190402005341/en/American-Industrial-Partners-Completes-Acquisition-Current-powered|title=American Industrial Partners Completes Acquisition of Current, powered by GE|date=2 April 2019|website=www.businesswire.com}}{{cite web|url=https://www.americanindustrial.com/2019/04/01/american-industrial-partners-completes-acquisition-of-current-powered-by-ge/|title=American Industrial Partners Completes Acquisition of Current, powered by GE|last=AIP|access-date=2019-04-04|archive-date=2019-04-04|archive-url=https://web.archive.org/web/20190404130921/https://www.americanindustrial.com/2019/04/01/american-industrial-partners-completes-acquisition-of-current-powered-by-ge/|url-status=dead}}

On 20 June 2022, the company announced that it would rebrand from GE Current to Current Lighting Solutions following the acquisition of Hubbell’s Commercial & Industrial (C&I) Lighting business.{{cite web | url=https://www.currentlighting.com/newsroom/current-launches-new-brand-identity-capture-expanded-companys-customer-centric-focus | title=Current™ Launches New Brand Identity to Capture the Expanded Company's Customer-Centric Focus | Current }}

Current announced working with seven global companies, including Hilton, Simon Properties, and the City of San Diego. The company has also partnered with other such companies as AT&T, Intel, and Qualcomm.{{Cite web|url=http://www.currentbyge.com/partnerships/|title=Partnerships that Power Progress|last=GE|first=Current, powered by|website=www.currentbyge.com|access-date=2016-09-13|archive-date=2016-09-19|archive-url=https://web.archive.org/web/20160919063359/http://www.currentbyge.com/partnerships/|url-status=dead}}

It also within the first 5 months secured the world's largest LED installation with JPMorgan Chase.{{Cite web|url=http://www.currentbyge.com/approach/|title=Our Approach|last=GE|first=Current, powered by|website=www.currentbyge.com|access-date=2016-09-13|archive-date=2016-09-17|archive-url=https://web.archive.org/web/20160917141942/http://www.currentbyge.com/approach/|url-status=dead}} Under the deal, Current will replace 1.4 million existing lights at 5,000 of JPMorgan Chase's bank branches with LED lighting. The replacement is expected to reduce the lighting-related energy used at these branches by 50 percent.{{Cite news|url=https://www.wsj.com/articles/ge-strikes-deal-to-install-led-lighting-at-5-000-j-p-morgan-bank-branches-1455836163|title=GE Strikes Deal to Install LED Lighting at 5,000 J.P. Morgan Bank Branches|last=Mann|first=Ted|date=2016-02-18|newspaper=Wall Street Journal|issn=0099-9660|access-date=2016-09-01}}

For the 2016 Summer Olympics in Rio de Janeiro, Current provided 200,000 energy-efficient lights at more than 40 Olympic venues (over 46 million square feet in total), reducing 50 percent of the energy costs.{{Cite web|url=http://hub.currentbyge.com/h/i/279111798-rio-2016-current-lights-up-the-olympic-games-infographic/271938|title=Current Lights Up the Olympic Games|website=Current, powered by GE}}{{Dead link|date=November 2019 |bot=InternetArchiveBot |fix-attempted=yes }}

{{Reflist}}

• {{Official website|https://www.currentlighting.com}}

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Category:Engineering companies of the United States

Category:Former General Electric subsidiaries

Category:Technology companies based in the Boston area

Category:American companies established in 2015

Category:2015 establishments in Massachusetts

Category:2019 mergers and acquisitions