Stanford News: Stanford Launches $100 Million Initiative to Tackle Energy Issues

Stanford News
January 12, 2009 06:00 PM Eastern Time

STANFORD, Calif.--(BUSINESS WIRE)--Recognizing that energy is at the heart of many of the world’s tribulations—economic, environmental and political—Stanford is establishing a $100 million research institute to focus intently on energy issues, President John Hennessy announced today. The $100 million in new funds will enable the hiring of additional faculty and support new graduate students, in addition to the more than $30 million in yearly funding now spent on energy research.

The new Precourt Institute for Energy will draw on deep scientific expertise from across the campus and around the world. From the minuscule—materials scientists prying loose more electricity from sunshine through more efficient photovoltaic cells—to the national effort to develop sustainable energy and the global search for ways to reduce atmospheric levels of carbon, the new institute will be at the forefront.

The institute is being brought to life through the generosity of donors, led by founding donors Jay Precourt and the husband-and-wife team of Thomas Steyer and Kat Taylor. Precourt is an energy executive; Steyer is a Stanford trustee and managing partner of Farallon Capital Management, and Taylor is active in a variety of public benefit and philanthropic ventures. They are all Stanford alumni.

Read the full story