Stanford University to Create Green Energy Research Institute

Stanford University to Create Green Energy Research Institute: The Stanford University is establishing a research institute to focus on energy issues and work toward development of more affordable and efficient ways to capture the power of the sun and store, deliver and use energy, in addition to reducing greenhouse gas (GHG) emissions. The proposed investment is US $100 million The University President John Hennessy announced the launch of the Precourt Institute of Energy. The three lead donors whose contributions are financing the creation of the institute are Stanford alumni. Energy executive, Jay Precourt, the namesake of the new institute, donated US $50 million and the University trustee and managing partner of Farallon Capital Management, Thomas Steyer and spouse Kat Taylor gave US $40 million. The balance was contributed by Douglas Kimmelman, senior partner of Energy Capital Partners, Michael Ruffatto, president of North American Power Group Ltd. and the Schmidt Family Foundation. The institute will work on the university's Global Climate and Energy Project. Lynn Orr has been named the director of the new institute. A professor in energy resources engineering, he previously was director of Stanford's Global Climate and Energy Project. Source: GreenBiz.com, 14 January 2009