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GE Acquires Innovative Technology to Help Meet UK Energy Efficiency and Emissions Targets

^{Published on 2011-01-11 07:01:05 - Market Wire}
 

ATLANTA--([ BUSINESS WIRE ])--GE (NYSE: GE) has acquired Remote Energy Monitoring, Ltd. with operations in the United Kingdom and Australia. This acquisition enhances GEa™s ability to address the European Uniona™s goals for a lower-emission, higher efficiency energy infrastructure.Remote Energy Monitoringa™s software and hardware technologiesallow consumers and utilitiesto better monitor andmanagetheir energy usage.

"Adding GEa™s resources helps us continueto strengthen ourtechnology development andbroaden the reach ofour smart, future-proof solution today."

Remote Energy Monitoringa™s metering solutions are approved by U.K. regulators. The modular design of their solutions makes them field upgradeable, enablingutilities to integrate new capabilitiesin the future without the time and expense of switching out meters.

aAdvanced software, flexible systems and robust communications are critical elements in modernizing our infrastructure to meet the worlda™s energy needs,a said Bob Gilligan, vice presidenta"digital energy for GE Energy Services. aThe accelerating pace of change of the energy industry demands flexible, cost-effective solutions that can be modified to meet the changing needs.a

GE's end-to-end hardware, software and communications technologies elevate electric meteringbeyond 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 useadjustmentsin response topeak pricing events.In addition, robust software and communications enable consumers to receive energy information and control energy usage via PC, TV, smart phoneand/or other mobile devices.

aCombining Remote Energy Monitoringa™s U.K. smart metering expertise with GEa™s worldwide metering, manufacturing and smart grid leadership willexpedite the rollout of this important technology,enabling theUnited Kingdomtolead in this area of energy management and efficiency,a said Gilligan.

Energy companies can install our new meter solution, with its interchangeable and upgradeable modules, with the assuranceit can beeasily adapted tomeet futurecommunicationsand other technological advancements,a said Nigel Rzemieniecki, chief executive officer, Remote Energy Monitoring, Ltd. aAdding GEa™s resources helps us continueto strengthen ourtechnology development andbroaden the reach ofour smart, future-proof solution today.a

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.

About GE

GE (NYSE: GE) is a diversified infrastructure, finance and media company taking on the worlda™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 worlda™s leading suppliers of power generation and energy delivery technologies. The businesses that comprise GE Energya"GE Power & Water, GE Energy Services and GE Oil & Gasa"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.