ATLANTA, GA.—February 1, 2011—GE (NYSE: GE) and Fuji Electric Holdings Co., Ltd. today announced a joint venture to design, build, market and service a new generation of electric meters, supporting Japan’s advancement to a smart grid infrastructure. The newly formed joint venture, GE Fuji Meter Co. Ltd, builds upon GE’s proven smart meter technology and Fuji Electric’s leading Japan-based manufacturing and sales network to provide quality, cost-effective meters to the country. Smart meters provide utilities and consumers with information to help them better monitor, understand and control energy usage.
“With decades of experience working with Japan’s utility companies to deliver world-class performance, GE is right at home joining forces with Fuji Electric,” said Luke Clemente, general manager, metering and sensing systems—digital energy for GE Energy Services. “GE’s smart meter technology provides the precision, accuracy and networked communications technology Japan utilities seek as they look to implement smart grid technologies to improve efficiency and reliability.”
“GE technology and smart grid thought leadership are pluses that can help us power Japan’s standard of living more economically and with more options for the future,” said Michihiro Kitazawa, president and representative director of Fuji Electric. “Combined with our manufacturing expertise and sales network, this joint venture makes great sense.”
In addition to efficiency and reliability gains, smart grid advances made possible through smart metering include easier integration of renewable energy sources, such as wind and solar power. From large wind plants to rooftop solar panels, Japan will be better equipped to use more zero-emission energy and shrink its carbon footprint. The potential efficiency gains and generation alternatives can also fortify Japan’s energy security as the country currently depends on imports for more than 80 percent of its energy needs.
The joint venture was finalized February 1, 2011. The company has been named GE Fuji Meter Co., Ltd, and GE Energy’s Daniel T. Nakano will serve as president and representative director, COO.
About Fuji Electric
The Fuji Electric Group develops the business globally with electric power plants and system solutions know-how accumulated by developing social and industrial infrastructures and electric power, and superior expertise in top-level components. The Group provides power semiconductors that are indispensable in the reduction of energy consumption in industrial machines, home electronic appliances and automotive electronics, and magnetic discs used in PC disc devices. Furthermore, the Company also provides products closely linked to daily lifestyles, such as vending machines. Moving forward, we will strive to further expand business in the field of “energy and the environment” by fusing and strengthening core technologies. Please refer to the following website for further information regarding the Fuji Electric Group: http://www.fujielectric.co.jp.
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 2010 revenues of $38 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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