GeneChips - Best Technology Product Reviews

Smart dust bins

  • 2021-07-02 10:11:37
  • 91

Renew was awarded a 21 year contract through a tender from The City to tackle the problem of free papers littering the streets. After years in R&D, the solution is an “intelligent'' bin that simultaneously acts as a recycling unit and a real-time communication network enabling it to broadcast breaking news or emergency messages in a terror alert.  

Its blast mitigation properties also would contain the fragment, fireball and shockwave effects of a detonated bomb specification and has been tested by a US Department of Defense certified explosion test centre. 

Renew’s CFO, Chris O’Connor, University of Chicago Booth School of Business MBA  said: “By placing our product in high footfall areas, we can help keep rubbish from being thrown away in the streets. Useful information can be broadcast through the two LCD screens on each side. 

Cost of the unit and maintenance of the digital screens is paid for by Renew’s advertising/sponsorship revenue and does not use tax payer's money from the City of London. So the project is a free public infrastructure upgrade to The City.”
When O’Connor left Deutsche Bank, he jumped at the chance to take up the position of CFO of Renew Solution, a company he had been introduced to as a possible investment opportunity when he headed up the Private Equity/Illiquid Assets investments for the Equities division of his former employer.
“The CEO asked me to join so I decided to take the plunge from big corporate to small start-up,” he said. “I have shed a lot of blood, sweat and tears these last three years, but it’s all worth it now that we are launched in London, where I spend most of my time, along with Singapore/Asia. I manage the finances for the company, focus on IP protection, budgeting, capital raising/financial risk, staffing/HR, strategy, and international expansion, specifically, in Singapore, Hong Kong and Tokyo.”
Some 200 screens are to be installed in London's Square Mile. Renew will also ship a unit to New York City this month which will be installed outside the NYSE in Lower Manhattan. Projects are soon to be announced in Singapore and Tokyo. 

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