Current by GE Has Reduced the Retailer’s Costs by More Than $100 Million Dollars in Energy Savings
New York, NY – January 16, 2018 – Walmart (NYSE: WMT), the world’s largest retailer, announced results of an extensive lighting program with Current, powered by GE (NYSE: GE) at the National Retail Federation’s Big Show. As part of an ongoing commitment to energy efficiency, Walmart has now installed more than 1.5 million LED (light emitting diode) fixtures across more than 6,000 stores, parking lots, distribution centers and corporate offices in ten countries.
With energy costs traditionally representing one of the company’s largest operating expenses, the monumental energy initiative over the past decade has reduced lighting energy consumption and reduced costs by more than $100 million.
“Energy is one of the key operating expenses that we can reduce while delivering system upgrades that improve the customer shopping experience,” explained Mark Vanderhelm, Walmart’s Vice President of Energy. “The ripple effect from these LED conversions throughout the business is truly staggering. We believe that by continuing to reduce one of our biggest operating expenses, we’re supporting future innovation and delivering on our promise of Every Day Low Prices.”
The LED commercial lighting initiative between Walmart and GE started 10 years ago with refrigeration display lighting and has grown to include parking lot and interior lighting. Many stores now also feature Current’s TriGain* technology, which is engineered to improve product visibility and enhance color vibrancy in areas like produce departments. Walmart is also moving aggressively to complete LED and controls retrofits in 100 percent of its distribution centers in the U.S., along with a new initiative to replace all other forms of overhead lighting with LED.
“Walmart is setting a great example for the retail industry to follow,” said Maryrose Sylvester, President and CEO of Current by GE. “We believe the global LED and controls transformation is paving the way for the next generation of smart retail, where steady advancement toward new digital solutions will continue improving the shopping experience. Walmart is once again on the leading edge of progress.”
Walmart’s investment in energy efficiency has reduced energy use per square foot by more than 12 percent since 2010. Its LED investments are part of Walmart’s science-based emissions reduction plan aimed at meeting its goal to reduce emissions 18 percent by 2025 (from 2015 levels) in its own operations through a combination of increased energy efficiency, sourcing of renewable energy and improvements in refrigeration systems and fleet efficiency.
Wal-Mart Stores, Inc. (NYSE: WMT) helps people around the world save money and live better - anytime and anywhere - in retail stores, online, and through their mobile devices. The company’s legal name will become Walmart Inc., effective on Feb. 1, 2018, to reflect its growing status as an omni-channel retailer. Each week, over 260 million customers and members visit our more than 11,600 stores under nearly 60 banners in 28 countries and eCommerce websites. With fiscal year 2017 revenue of $485.9 billion, Walmart employs approximately 2.3 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting http://corporate.walmart.com, on Facebook at http://facebook.com/walmart and on Twitter at http://twitter.com/walmart.
About Current, powered by GE:
Current is the digital engine for intelligent environments. A first-of-its-kind startup within the walls of GE (NYSE: GE), Current blends advanced energy technologies like LED and solar with networked sensors and software to make commercial buildings and industrial facilities more energy efficient & productive. Backed by the power of Predix*, GE’s platform for the Industrial Internet, and a broad ecosystem of technology partners, Current is helping businesses and cities unlock hidden value and realize the potential of their environments. www.currentbyge.com