(1888PressRelease)
January 16, 2009 - The US university has committed to invest $100 million (#163;68 million) in the new Precourt Institute for Energy.It is hoped that the new facility will provide a base for the energy research conducted by the academic institution, currently valued at around $30 million (#163;21 million).
Stanford president, John Hennessy, said: `Energy is certainly one of those issues, posing a threat to our economy, to national security and, through the use of fossil fuels, to our environment.`Addressing the challenge of energy will require research on a wide range of issues, from energy efficiency to development and deployment of renewable sources, to reducing the effect of fossil fuels.
The new funding will also be used to hire additional staff and support the work of new graduate students.It will be named after founding donor Jay Precourt, an energy executive and Stanford alumnus.
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