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Current's Acquisition with Daintree Reduces Energy Consumption

By CIOReview | Tuesday, May 17, 2016
Derek Proudian, Chairman and CEO, Daintree Networks

Derek Proudian, Chairman and CEO, Daintree Networks

BOSTON, MA: Current, a digital power service that helps clients transform their energy usage, powered by GE has recently acquired Daintree Networks, an internet provider of building controls solutions for commercial purpose. The acquisition will enable Current to expand its building automation platform and energy-as-a-service offering to the SMBs, in order to help them cut down their energy consumption. “We have developed an offering that merges cloud-based computing with building automation technology to enable comprehensive energy management,” says Derek Proudian, Chairman and CEO, Daintree Networks. “We at Daintree use open standards-based technology, which is less costly, complex, and easy to accomplish unlike proprietary systems,” Proudian adds.

In the present competitive marketplace, over 90 percent of the edifice has no building automation system. Therefore, by leveraging Daintree’s ControlScope solution, in collaboration with Current's building automation portfolio, users can easily develop building automation systems to identify data patterns to increase efficiency and reduce power level. "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 Proudian. The integration is set to help clients have a greater control, lower maintenance costs, and increased operational efficiencies.

"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, powered by GE.

The joint solutions serve the Fortune 500 and mid-size companies across North America, and help them manage over one million lights, thermostats, and sensors, with which the customers can effectively save monthly lighting and HVAC energy cost up to 60 percent. "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," Maryrose adds.

“We will work towards advancing the industry and increase adoption rates of building automation technologies, enabling vendors to embed wireless and build control functionality directly into their fixtures,” says Proudian.

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