Illustration 60886103 / Kheng Ho To / Dreamstime
Illustration 60886103 Kheng Ho To / Dreamstime
60886103 / Kheng Ho To / Dreamstime
60886103 / Kheng Ho To
(Photo by Spencer Platt/Getty Images)

GE Current to Provide LED Lighting to 5,000 JP Morgan Chase Locations

Feb. 22, 2016
In a deal GE characterized as the largest single-order LED installation in the world, JP Morgan Chase agreed to have Current by GE install new indoor and outdoor lighting across the 5,000-odd locations of its U.S. bank network.
(Photo by Spencer Platt/Getty Images)

In a deal GE characterized as the largest single-order LED installation in the world, JP Morgan Chase agreed to have Current by GE install new indoor and outdoor lighting across the 5,000-odd locations of its U.S. bank network.

The project will replace about 1.4 million lights in 25 million square feet of space with GE’s LED systems over two years, along the way reducing lighting energy costs by 50% at the branches.

Current, a new business unit launched by GE last fall, combines its LED lighting, solar, energy storage and electric vehicle businesses into a combined offering focused on energy efficiency and energy management products and services based on its Predix industrial software platform.

“LED commercial usage is anticipated to grow from 28 percent today to 95 percent by 2025, unlocking tremendous value for our customers to reduce energy cost and complexity in commercial enterprises,” said Maryrose Sylvester, president and CEO of Current. “Chase understands this shift and is a frontrunner in leading the transformative change in distributed energy by leveraging LEDs to optimize energy efficiency.”

Projects such as this one give the new business, led by former GE Lighting CEO Sylvester, a chance to demonstrate its capabilities beyond lighting by integrating intelligence supported by the lighting system.

“We are always looking for better ways to manage our branches in an efficient and sustainable manner,” said Barry Sommers, CEO of Chase Consumer Banking, in a GE release. “This helps us deliver on that goal by reducing the energy we use in the communities we serve.”