With a five-year, multimillion dollar investment, GE (NYSE: GE) is expanding its longstanding relationship with the University of Connecticut (UConn) to transform the state’s technology sector and spark breakthrough innovations in electrical distribution products.
The financial support from GE’s Industrial Solutions business, creator of advanced technologies that protect and control the distribution of electricity, will bring together researchers from various academic disciplines and from the energy industry to conduct research and development (R&D) on core electrical-protection technologies, including circuit breakers. As part of the donation, GE also will finance the creation of an endowed GE professorship in the UConn School of Engineering, as well as GE graduate fellowships and GE-sponsored research.
“This investment in the University of Connecticut is an important step toward creating more meaningful relationships with leading universities,” said Bob Gilligan, CEO of GE’s Industrial Solutions business. “The collaboration enables GE to partner with a well-respected institution to create the electrical distribution technologies of tomorrow — enabling us to bring our customers more innovative products and manufacture them in a more cost-effective way.”
UConn President Susan Herbst said, “With this commitment, GE is forging greater collaboration among world-class scholars, researchers and industry leaders, which is essential to fostering innovation and strong economic growth. Cutting-edge research and education are vital to both UConn and GE as we strive to train leaders and manufacture products that will be successful in the global economy.”The five-year, $7.5 million GE initiative includes philanthropic support through the University of Connecticut Foundation as well as sponsorship for UConn research:
- $1.5 million endowment for a GE professorship in the School of Engineering.
- $2.7 million grant for graduate and undergraduate sponsorships.
- Up to $3.3 million to UConn for GE-directed research in materials, manufacturing and advanced circuit breaker technologies.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV