Fuji Electric, GE To Form JV For Japan's Meter Business

Published: 26-Feb-2010

Fuji Electric Holdings (Fuji) and GE have signed a non-binding memorandum to form a joint venture to design, manufacture and market electric meters, including smart meters, for use at Japan's electric utilities and other companies.

The potential joint venture is still under negotiation by Fuji and GE. It is expected that Fuji will own the majority of shares of the new JV. This joint venture integrates the complementary experience and technologies of Fuji and GE.

As carbon-reduction and energy efficiency needs to grow, smart meters are a vital part of a smart grid strategy for understanding, managing and optimizing electricity usage. The potential joint venture will support smart meter deployment in Japan, the companies said.

The companies added that smart meters enable an accurate visualization of energy usage, giving consumers and utilities information to help them better monitor, understand, manage and control energy usage. The meters' two-way communications capabilities increase the efficiency and reliability of grid infrastructure, helping lower carbon emissions.

The formation of a joint venture between Fuji and GE is subject to several conditions, including the negotiation of definitive agreements and possible governmental approvals.

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