Ecolab, Inc’s CEO Douglas M. Baker made the gift through his Ecolab Foundation towards Driven: The University of Minnesota Campaign, which has already raised more than $3 billion.
“Our gift is designed to support sustainability thought leadership for years to come,” said Baker. “Ecolab operates at the nexus of business and sustainability, and this investment from the Ecolab Foundation will encourage collaboration between the University and the business community to ensure a secure, sustainable future for everyone.”
Out of the $5 million, $2 million will be spent to establish an endowed chair for the Institute on the Environment. The foundation will spend $1 million in providing scholarships to undergraduate students studying various majors including environment and sustainability-related as well.
“For decades, University of Minnesota researchers and students have focused on finding scientific and social solutions to tackle the most important challenges facing our state, nation and world,” President Eric Kaler said.
“Through public-private partnerships, like this one with the Ecolab Foundation, we are able to accelerate research into practices that ensure safe water, clean, renewable energy, healthy landscapes and sustainable food.”
The university will spend a part of the gift on a conference series to bring academic and industry experts together who are working on big environmental challenges.