The London 2012 Olympic and Paralympics Games are all set to bestow the UK with all their glory and the City of London is welcoming guests from all around the world with open arms and a rather curious new innovation. By the time the games roll around to London, the city’s streets and public spaces will be punctuated by the Renew bins. The high-tech recycling bins will feature a couple of LCD screens on either side that will display the latest news from the world of finance. Both sides of the bin will be fitted with screens to deliver content to the public on the go. The project has been in the pipelines for quite some time now and with the city ready to hit the world spotlight with the summer Olympics, this is the perfect time to debut these swanky new bins.
Created by a private company called Renew, the new recycling units are aimed at workers who live and commute through the city. Around half a million City workers who commute from and to the Square Mile each day will be benefited from the units that will feature news aimed at them. Each Renew bin costs the company £30,000 ($47,559) to build and install and private investment from entrepreneurs and City workers was used to back the project which will cost Renew £500,000 ($ 792, 650) per bin over the course of the 21-year contract for each.
Each market day, the Renew flashes news between 6am and 23.59 pm and the content includes information about entertainment, arts, sport, fashion and travel apart from the general news headlines, weather updates, corporate news and breaking financial news. Since the bins are fitted with Wi-Fi, they can also be potentially used to offer greater connectivity. To make it easy for sanitation workers to collect and empty them, the Renew bin has been created with enough space in it to accommodate typical household wheelie bin. The real beauty of the bins is not the fact that they flash stock market indices or display news of current events but they are also geared to be able to broadcast updates and instructions in case of an emergency, which could help immensely in case of any disastrous situation.
Between now and the Olympics, 75 units will be being installed around London. There are currently around 25 of these units already in place. Content for the Renew bins is currently generated by The Economist and the London Stock Exchange and since smartphones eat up a lot of bandwidth at crowded metro stations, getting information though the internet can be really hard. And this is exactly where a Renew bin can be of immense help for businesspersons. And the British project is already grabbing eyeballs around the world with cities like Singapore, Tokyo and New York showing interest in having a few Renew Bins lined up around their stock exchanges and busy business district metro and subway stations.