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LOUISVILLE, KY. (WDRB) -- An agreement announced Thursday between private industry and a public university is expected to bring about the invention of new kinds of major appliances.
General Electric and the University of Kentucky intend to work together to improve how well GE appliances work and how long they last. That is expected to involve projects such as extending the life of products that use water and improving water filtration.
The agreement includes how UK and GE will share intellectual property they develop together.
GE Vice President of Technology said in a news release, "The research agreement between GE Appliances and UK provides the framework for working together on challenging problems and helps us leverage the technical expertise at UK."
GE Vice President for Research James Tracy said, "This partnership will provide opportunities for our faculty, and the students they mentor, to work on projects with immediate, real-world applications in industry." And UK President Eli Capilouto said, "...GE's investment in research at UK will help train a new generation of scientists and engineers."
Thursday's announcement came in Building Two at Appliance Park. It is the site of the manufacturing line that produces a new hybrid water heater.
It is one of several new products that has resulted in the creation of more than 3,000 new jobs since 2010 at Appliance Park.
However, the appliance division is still looking to make a profit. "We continue to strive to become more profitable," says GE Appliance Division CEO Chip Blankenship, "but forecasting that is a tough call at this stage."
Last year, GE entered into a similar agreement with the University of Louisville.