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.

ADVERTISEMENT

Pandemic has only moderate impact on big companies Analysis

Pandemic has only moderate impact on big companies

Parl't to vote on groundwork for commercial accommodation ra... Parliament

Parl't to vote on groundwork for commercial accommodation ra...

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest re-launches airport shuttle bus City

Budapest re-launches airport shuttle bus

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.