Updated Saturday, 14 APR–A spokesperson from Current did confirm that the Morgan Stanley deal was direct. After our story was published, we heard from a long time GE/Current employee who also confirmed that it was direct, but he want on to say that it was packaged through FSG.
Editor’s Note: EdisonReport can confirm that this large order for all products and services is direct between Current and Morgan Stanley.
BOSTON–(BUSINESS WIRE)–Current, powered by GE (NYSE: GE) has announced a new energy efficiency program with Morgan Stanley (NYSE: MS). The companies are collaborating to evaluate energy savings opportunities across more than 600 Morgan Stanley retail branches with a turnkey LED lighting and digital controls solution that will reduce lighting-related energy consumption by up to 50 percent in some branches, plus improve operational productivity and enhance the customer experience. The program, which is being implemented in partnership with Hines real estate management, will provide enterprise-level visibility across Morgan Stanley’s diverse portfolio of Wealth Management branches.
“This collaboration is a great example of a leading financial institution and real estate management firm coming together to reduce energy, improve operations and position themselves for the future,” said Maryrose Sylvester, President & CEO of Current, powered by GE. “Forward-thinking companies everywhere are realizing the added value of combining LED technology with digital controls, sensors and software to deliver both energy savings and operational productivity.”
Morgan Stanley’s leadership approach to energy efficiency is guided by a commitment to reduce energy usage by 20 percent by 2022 from a 2012 baseline. According to the Department of Energy, only 12 percent of U.S. commercial and retail buildings had transitioned to LED lighting solutions as of 2015. Lighting represents approximately 40 percent of energy consumption for commercial buildings.
“Morgan Stanley is a great partner who recognizes the value of an enterprise view,” explained Frank Marcazzo, Director of Facilities Management at Hines, which handles Facility Management. “Working with Current by GE, we are able to reduce energy expenses, leaving branch managers to focus on serving customers.”
Current’s LED retrofit solution is now being deployed on a rolling basis across Morgan Stanley’s Wealth Management offices. Beyond LED-related energy savings, Current’s Daintree* network is also being evaluated, and if implemented, will provide a digital controls solution that wirelessly integrates with building sensors and devices to manage occupancy, daylighting, scheduling, thermostats and plug loads.
The project is expected to begin later this month and continue in phases over the next few years.
About Current, powered by GE:
Current is the digital engine for intelligent environments. A first-of-its-kind startup within the walls of GE (NYSE: GE), Current blends advanced energy technologies like LED and solar with networked sensors and software to make commercial buildings and industrial facilities more energy efficient & productive. Backed by the power of Predix*, GE’s platform for the Industrial Internet, and a broad ecosystem of technology partners, Current is helping businesses and cities unlock hidden value and realize the potential of their environments. www.currentbyge.com
* Trademark and/or Service Mark of General Electric Company
Current, powered by GE
Karen O’Neil, 857-265-9113