GE’s Current Energy Unit Moves to Boston

February 2, 2016, 9:23 PM UTC
Boston Exteriors And Landmarks
BOSTON, MA - MAY 05: A general view of the Boston skyline on May 5, 2014 in Boston, Massachusetts. (Photo by Paul Marotta/Getty Images)
Paul Marotta—Getty Images

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.

GE’s building its own cloud; outsiders wonder why.

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.

Get Data Sheet, Fortune’s daily newsletter on the business of technology.

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.


Subscribe to Well Adjusted, our newsletter full of simple strategies to work smarter and live better, from the Fortune Well team. Sign up today.

Read More

Artificial IntelligenceCryptocurrencyMetaverseCybersecurityTech Forward