OREANDA-NEWS. July 11, 2012. Prince Albert II of Monaco today visited the corporate headquarters of Robert Bosch GmbH, where he met with Dr. Volkmar Denner, the chairman of the board of management, for talks.

 In this context, the “connected city” concept was presented, which outlines the possibilities for connecting information and communications systems, buildings, institutions, and elements of the infrastructure.

 The Principality of Monaco is interested in preserving the exceptionally high quality of life in the city state, and regards the concept as a further extension of its activities to promote sustainability. It hopes to develop and implement solutions in areas such as mobility, energy, healthcare, and communications.

 With this in mind, a letter of intent was signed today. In it, the parties agree that Bosch will draw up a feasibility study for the Principality of Monaco relating to the “connected city.”

 Bosch has recognized expertise in the technologies needed for this city concept. Over the past years, the company has devoted a lot of attention to the subject of connectivity, and worked in the areas of smart sensors and the internet of things and services. In addition, Bosch has extensive know-how when it comes to controlling complex systems.

 “We are proud that we can use innovative Bosch technology to help a connected city of the future come into being,” Dr. Volkmar Denner said.

 Prince Albert II of Monaco commented: “I am pleased that the letter of intent we have signed today will allow the study of innovative technologies that will ensure the principality's further sustainable development.”

The Bosch Group is a leading global supplier of technology and services. In the areas of automotive and industrial technology, consumer goods, and building technology, more than 300,000 associates generated sales of 51.5 billion euros in fiscal 2011. The Bosch Group comprises Robert Bosch GmbH and its roughly 350 subsidiaries and regional companies in some 60 countries. If its sales and service partners are included, then Bosch is represented in roughly 150 countries. This worldwide development, manufacturing, and sales network is the foundation for further growth. Bosch spent some 4.2 billion euros for research and development in 2011, and applied for over 4,100 patents worldwide. With all its products and services, Bosch enhances the quality of life by providing solutions which are both innovative and beneficial.

The company was set up in Stuttgart in 1886 by Robert Bosch (1861-1942) as “Workshop for Precision Mechanics and Electrical Engineering.” The special ownership structure of Robert Bosch GmbH guarantees the entrepreneurial freedom of the Bosch Group, making it possible for the company to plan over the long term and to undertake significant up-front investments in the safeguarding of its future. Ninety-two percent of the share capital of Robert Bosch GmbH is held by Robert Bosch Stiftung GmbH, a charitable foundation. The majority of voting rights are held by Robert Bosch Industrietreuhand KG, an industrial trust. The entrepreneurial ownership functions are carried out by the trust. The remaining shares are held by the Bosch family and by Robert Bosch GmbH.