Olympics TOP sponsor General Electric is poised to capitalize on investment in infrastructure development around London 2012, having made $700 million from contracts around the Beijing Games.
The Games should pay off for both GE and the London public, as the US conglomerate plans to build legacy projects designed to make the city cleaner, more energy-efficient, and even healthier.
GE CEO Jeff Immelt [pictured with Sir Clive Woodward], speaking at a conference in London on the legacy of the 2012 Games, said there was opportunity in the current economic downturn for businesses which could exploit investments by governments in improvements in infrastructure, education and healthcare, designed to help economies in the long-term.
His company, which is primarily known in the UK for its financial services business, plans to use 2012 to set out its stall here in energy and technology infrastructure.
For Beijing 2008, GE delivered over 400 infrastructure projects, including building wind farms, water purification plants, security systems at airports and on subways, and floodlights at sports venues.
With LOCOG determined to deliver an environmentally friendly Games, and a legacy of improved infrastructure for London, GE, which provides technology and energy infrastructure, including selling $17 billion worth of ‘green’ technology every year, sees huge opportunity.
Discussions are underway about energy projects for London with Olympics partners EDF Energy and BP. GE’s President of Olympic Sponsorship and Corporate Sales, Peter Foss told Britsport Weekly that concrete plans will only be made known “in the next six months”.
GE’s biggest presence in the UK is currently in financial services, where its GE Capital division employs 6,000. GE’s global Olympic marketing & advertising director Matthias Hanssen told Britsport Weekly “we want to use the Olympic Games to really bring our brand out. The diversity of GE, in terms of being an infrastructure company, is not known.”
At the London conference, entitled “London 2012 – How can we deliver the legacy?”, GE showcased technologies including software which can increase the efficiency of aging power grids and power generators which can run on landfill gas, biogas and natural gas.
GE’s work in medical technology will also be part of its contribution to the London 2012 legacy, Peter Foss told BritSport Weekly. “We’ll look for a way to do something around healthcare that will leave a legacy for the city and the country that is something we can be proud of, something that will get a lot use and produce a lot of value for years to come,” he said.
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