General Electric Company’s (NYSE:GE) Industrial Solutions business is giving $7.5 million to the University of Connecticut for student fellowships, an endowed professorship and GE-sponsored research.
The Industrial Solutions business makes devices used to control and protect the distribution of electricity. The research sponsored by this grant will broadly be directed at electrical-protection technologies, including circuit breaker technologies. More specifically it will focus more on “arc-plasma containment, electrical materials, magnetic and mechanical systems and advanced manufacturing technologies.”
For GE, the commercial goal is to create new technologies and innovative, high-performance, more compact circuit breakers for their customers; and to be able to produce them more cost-effectively.
According to GE’s announcement, Bob Gilligan, CEO of the company’s Industrial Solutions business, said in a ceremony at Industrial Solution’s Plainville, Connecticut facility that “This investment in the University of Connecticut is an important step toward creating more meaningful relationships with leading universities.”
Besides GE employees and UConn officials, the ceremony was attended by Connecticut Governor Dannel P. Malloy and other politicians.