General Electric Co. (GE) has reached an agreement with JPMorgan Chase & Co. (JPM) to install new lighting fixtures for 5,000 bank outlets in the United States. Current sales of General Electric's new LED lighting system estimates that after installation, the energy consumption associated with lighting at JPMorgan's bank outlets will be reduced by 50%. Under the agreement, Current will replace approximately 1.4 million existing lamps into LED lighting in the next two years, covering an area of ​​25 million square feet (2.22 million square meters). Current expects that the newly laid lighting system will save JP Morgan Chase an annual energy consumption of 184 million kilowatts. The amount of the transaction was not disclosed. JPMorgan spokesman Michael Fusco said the deal is part of an emissions reduction plan that aims to cut carbon emissions to half of 2005 levels by 2020.
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