GE Acquires Innovative Technology to Help Meet UK Energy Efficiency and Emissions Targets
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Press release date: January 11, 2011
Acquisition of Remote Energy Monitoring will Enable Easy Adoption of New Technologies to Fuel the Clean Energy Evolution
ATLANTA - 11 January 2011 - GE (NYSE: GE) has acquired Remote Energy Monitoring, Ltd. with operations in the United Kingdom and Australia. This acquisition enhances GE's ability to address the European Union's goals for a lower-emission, higher efficiency energy infrastructure. Remote Energy Monitoring's software and hardware technologies allow consumers and utilities to better monitor and manage their energy usage.
Remote Energy Monitoring's metering solutions are approved by U.K. regulators. The modular design of their solutions makes them field upgradeable, enabling utilities to integrate new capabilities in the future without the time and expense of switching out meters.
"Advanced software, flexible systems and robust communications are critical elements in modernizing our infrastructure to meet the world's energy needs," said Bob Gilligan, vice president-digital energy for GE Energy Services. "The accelerating pace of change of the energy industry demands flexible, cost-effective solutions that can be modified to meet the changing needs."
GE's end-to-end hardware, software and communications technologies elevate electric metering beyond simply tracking energy consumption. The metering solutions support enhancements such as remote activation and disconnect, two-way communications between households and utilities, dynamic pricing structures, pre-paid account management and energy use adjustments in response to peak pricing events. In addition, robust software and communications enable consumers to receive energy information and control energy usage via PC, TV, smart phone and/or other mobile devices.
"Combining Remote Energy Monitoring's U.K. smart metering expertise with GE's worldwide metering, manufacturing and smart grid leadership will expedite the rollout of this important technology, enabling the United Kingdom to lead in this area of energy management and efficiency," said Gilligan.
Energy companies can install our new meter solution, with its interchangeable and upgradeable modules, with the assurance it can be easily adapted to meet future communications and other technological advancements," said Nigel Rzemieniecki, chief executive officer, Remote Energy Monitoring, Ltd. "Adding GE's resources helps us continue to strengthen our technology development and broaden the reach of our smart, future-proof solution today."
The transaction closed on January 11, 2011. The entire Remote Energy Monitoring technology and support team will be joining GE. Headquarters will remain outside of London, United Kingdom.
GE (NYSE: GE) is a diversified infrastructure, finance and media company taking on the world's toughest challenges. From aircraft engines and power generation to financial services, health care solutions and television programming, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's website at www.ge.com.
GE serves the energy sector by developing and deploying technology that helps make efficient use of natural resources. With nearly 85,000 global employees and 2009 revenues of $40 billion, GE Energy www.ge.com/energy is one of the world's leading suppliers of power generation and energy delivery technologies. The businesses that comprise GE Energy-GE Power & Water, GE Energy Services and GE Oil & Gas-work together to provide integrated product and service solutions in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; and other alternative fuels.
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