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Current, Powered By GE: Energy Start-Up Purchases Daintree Networks
Boston — PRNewswire — April 21, 2016 — Current, powered by GE, announced the acquisition of Daintree Networks, an Industrial Internet provider of building controls solutions for commercial facilities. This acquisition will enable Current to expand its building automation platform and its energy-as-a-service offering to small- and medium-size facilities through the deployment of Daintree's open, standards-based wireless control systems.
Today, 90 percent of the world's small- to mid-sized buildings lack building automation systems. Integrating Daintree Networks' open-standard networked wireless control solution, ControlScope, into Current's building automation portfolio addresses that problem.
The joint solution links data from lighting and HVAC systems directly to Predix, GE's Industrial Internet software platform – allowing customers to analyze their energy consumption and identify data patterns to increase efficiency and reduce power levels. Fortune 500 and mid-size enterprises across North America, including Universal Music Group, the Salk Institute, and National Bank of Arizona, use Daintree technology to manage over 1 million lights, thermostats, and sensors in office, retail, and industrial locations, delivering monthly lighting and HVAC energy cost savings of up to 60 percent.
"By combining Daintree's open-standard control and sensing technology with GE's Predix platform, Current's building automation platform and its energy-as-a-service offerings, we'll deliver the industry's first next-generation, scalable cloud-based energy management and facilities optimization platform for every building type and size," said Maryrose Sylvester, president and CEO, Current. "Our combined strengths will help customers, big or small, achieve a reduced carbon footprint and increased energy savings, and provide a solution for ecosystem partners to grow."
This acquisition brings to Current an extensive ecosystem of value-added resellers, system integrators and device partners with long-standing experience in helping enterprises deploy and optimize ControlScope in commercial, retail, and industrial environments. Built to established open protocol standards, Daintree's ControlScope technology can be deployed wirelessly and securely in almost any enterprise and ensure interoperability between products offered by multiple device vendors.
The acquisition comes just six months after the formation of Current, a first-of-its-kind energy start-up within GE that integrates GE's LED and onsite power businesses with GE's industrial strength Predix platform to deliver the most cost-effective energy management platform required by customers today and in the future. GE's Predix platform is open, flexible, and securely connects multiple third-party devices and assets to the Industrial Internet.
"Daintree has been in the enterprise IoT space for a long time, so we are excited to join Current in bringing customers an enhanced lighting and energy management solution that can be applied to a wide range of buildings including grocery stores, neighborhood banks and office environments," says Derek Proudian, CEO, Daintree Networks. "Through this integration, we will help our customers achieve the promise of the Industrial Internet: greater control, lower maintenance costs, and increased operational efficiencies."
Upon completion of the acquisition, Current will integrate Daintree's employees in California, Australia, and Massachusetts into its structure.