Poised to transform how commercial, industrial and municipal users manage their energy, GE has appointed Pete Lau as CEO for Europe and the Middle East for its new energy start-up Current, powered by GE.
Current, which is backed by GE’s balance sheet, brings together GE’s LED, solar, energy storage and electric vehicle businesses into a holistic offering absent from industry today. The business portfolio includes sensor-enabled hardware, software, fulfilment, product management and financing solutions.
Taking the helm of the new company in Europe and the Middle East, Pete will steer Current towards new, energy efficient models that will help customers change the way they manage their energy consumption.
Through Predix, GE’s cloud-based platform for the Industrial Internet, Current will analyse energy 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.
These advanced solutions will help customers save an estimated 10-20 per cent on their energy bills, and help utility partners better manage their distributed load.
Pete will lead Current’s European and Middle Eastern operations from a newly created European Commercial Leadership Office for Current, based at The Ark in London. This location was chosen because of London’s position as an international business hub for startups 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,” Pete commented. “I am looking forward to helping customers across the region create a robust strategy to further their business objectives while reducing waste and costs and transforming the way industry chooses and consumes energy.”
Pete brings more than 15 years of commercial and operations leadership within GE to the CEO role. Most recently, Pete served as General Manager of Global Sourcing and LED Fulfilment, where he built GE Lighting’s new partnership ecosystem and drove customercentric business operations.
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