NEW YORK, Feb. 18, 2016 /PRNewswire/ -- Current, powered by GE (GE), today announced a deal with JPMorgan Chase & Co. (JPM) to install LED lighting across most of Chase's U.S. branches. Potentially spanning 25 million square feet across roughly 5,000 branches, the project is the world's largest single-order LED installation to date.
Current estimates that, once completed, the project could reduce the branches' lighting-related energy use by more than 50 percent– equal to taking nearly 27,000 cars off the road.
"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. "This helps us deliver on that goal by reducing the energy we use in the communities we serve."
The announcement comes just four months after the formation of Current, a first-of-its-kind energy start-up within GE that integrates GE's LED, Solar, Energy Storage and Electric Vehicle businesses with its industrial strength software platform, Predix.
"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."
This POS has no more buyers. Only sellers. It will drift down to 15 cents and maybe base over the summer. No reason to buy now. The pump is over. Gomes blew his load. Nothing left to squeeze. Now it's in the bagholders' hands. They will be selling before they lose it all.