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Hungarians account for much of manpower at GE startup

Competition

General Electric (GE) has launched a startup focusing on LED production and energy efficiency developments that is staffed largely by its workforce in Hungary, Peter Lau, the companyʼs CEO for Europe and the Middle East told Hungarian news agency MTI yesterday.

The startup, dubbed Current, aims to supply GEʼs clients, such as the Hilton hotel chain, as well as American hospitals or companies that run shopping malls with energy efficient solutions that can reduce energy bills by 10-20%, said Lau. The startup can offer tailored solutions to clients faster, he added. 

Current integrates GE’s LED, solar, energy storage and electric vehicle businesses with its Predix software platform.

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