In January, Renew Solution launched their innovative, high-tech information and recycling units in The City of London after being awarded a 21 year contract through a tender from The City to tackle the problem of free papers littering the streets of the Square Mile. After years in research and development, Renew's solution is an "intelligent bin" that simultaneously acts as a recycling unit and a real-time communication network that enables it to broadcast breaking news and emergency messages in the case of a terror alert. Its blast mitigation properties contain the fragment, fireball and shockwave effects of a specification of a detonated bomb and have been tested by a US Department of Defense certified explosion test centre.
On-the-go format that brings live news, information and entertainment to the street Renew's CFO Chris O'Connor, an MBA graduate of the University of Chicago Booth School of Business, said: "By placing our product in high footfall areas, we can help keep rubbish from being thrown away in the streets and useful information can be broadcast through the two LCD screens on each side. The cost of the unit and the maintenance of the digital screens is paid for by Renew's advertising/sponsorship revenue and it does not utilize tax payer's money from the City of London. Thus the project is a free public infrastructure upgrade to The City."
From big corporate to small start-up When Chris 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 while he headed up the Private Equity/Illiquid Assets investments for the Equities division of his former London employer.
"The CEO asked me to join so I decided to take the plunge from big corporate to small start-up," said O'Connor. "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 intellectual property protection, budgeting, capital raising/financial risk, staffing/HR, strategy, and international expansion, specifically, in Singapore, Hong Kong and Tokyo."
Renew will be shipping a unit to New York City in April which will be installed outside the NYSE in Lower Manhattan, plus projects are soon to be announced in Singapore and Tokyo.
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