Stanford Energy Institute Receives Big Gifts
January 13, 2009 | Read Time: 1 minute
Two large gifts have been made toward a $100-million energy research institute at Stanford University that will develop cheaper solar cells and ways to use electricity more efficiently and prevent the buildup of greenhouse gases, reports the San Francisco Chronicle. The institute will be called the Precourt Institute for Energy.
Jay Precourt, a Stanford alumnus who has worked for Hamilton Oil and Tejas Gas Corporation, has donated $50-million toward the institute.
The institute has also received $40-million from Thomas Steyer and his wife, Kat Taylor. Mr. Steyer is founder and a managing partner of Farallon Capital Management as well as a managing director of the Hellman & Friedman private-equity firm.
Mr. Steyer is a Stanford trustee, and both he and his wife graduated from the university. The gift will also support faculty positions and graduate-student fellowships.
