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GE’s Current Energy Unit Moves to Boston

Feb 02, 2016

General Electric's business units are starting to filter into Boston, the company's soon-to-be corporate headquarters.

GE's (ge) Current business, which specializes in smart energy products and Internet of things services, now has temporary digs at the WeWork co-working space near South Station, according to The Boston Globe.

Current incorporated GE's LED lighting, solar power, electric vehicle, and energy storage products, along with its Predix management software. The business is aimed at turning what used to be product sales (of LED lights, for example) into a recurring service sale (such as tools to help offset power usage, for instance).

Maryrose Sylvester, CEO of GE's lighting unit, told the Globe that 20 employees should be at the new office within weeks, with perhaps 40 more by the end of the six-month lease.

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Last month, GE decided to move its corporate mecca from Fairfield, Conn. to Boston. The city and state are providing a reported $145 million or so in grants and tax incentives. The company's new headquarters will be somewhere in South Boston's booming Seaport district. For the time being, GE will lease property on Farnsworth Avenue, also according to the Globe.

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Prior to the announcement of GE's move to Boston, the company had existing ties to Massachusetts. Its aviation unit has a fairly large presence in Lynn, ten miles north of Boston. Just after news of the move was announced, that unit initiated the layoff of about 60 employees.

Fortune has reached out to GE for comment and will update this story as needed.

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