GE Expands Smart Grid Portfolio, Extends its Reach in Ireland
CAMBRIDGE, UNITED KINGDOM—July 21, 2011—GE (NYSE: GE) announced today that it has finalized the acquisition of Ireland-based FMC-Tech, a leading provider of smart grid technology equipment providing real-time power line monitoring capabilities. The acquisition, first announced in May, marks another milestone in both GE’s dedication to smart grid excellence and its commitment to smart grid development in the United Kingdom and Ireland.
“GE is committed to innovatively solving our customers’ toughest challenges with more efficient, reliable and sustainable energy solutions,” said Keith Redfearn, general manager—Digital Energy for GE Energy in Europe. “FMC-Tech solutions are at the forefront of a new wave of technologies allowing utilities to remain competitive and capable of meeting the challenges of the 21st century grid.”
FMC Tech comes to GE with utility experience and backing. ESB Networks has worked with the FMC-Tech team on pilot trials of their intelligent network sensors. According to ESB, the deployed system has proven to be highly effective in the areas of network monitoring and fault detection, delivering a significant reduction in outage duration.
GE has also demonstrated its commitment to smart grid development in Ireland by supporting Smart Grid Ireland (SGI). SGI is a group of international and local businesses facilitated by the Center for Competitiveness, focused on articulating the benefits of smart grid to promote sustainability and economic growth throughout the region.
This past March, GE’s Paddy Turnbull participated in SGI’s smart grid pilot proposal to Northern Ireland Minister for Enterprise, Trade and Investment Arlene Foster. The pilot would allow for a greater number of renewable energy sources such as wind, wave and solar energy to be connected to the existing electrical network—reducing carbon emissions and ensuring energy security and reliability.
About GE
GE (NYSE: GE) is an advanced technology, services and finance company taking on the world’s toughest challenges. Dedicated to innovation in energy, health, transportation and infrastructure, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.
GE also serves the energy sector by providing technology and service solutions that are based on a commitment to quality and innovation. The company continues to invest in new technology solutions and grow through strategic acquisitions to strengthen its local presence and better serve customers around the world. The businesses that comprise GE Energy—GE Power & Water, GE Energy Services and GE Oil & Gas—work together with more than 90,000 global employees and 2010 revenues of $38 billion, 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; as well as other alternative fuels and new grid modernization technologies to meet 21st century energy needs.
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