US: 100 million greenbacks for Stanford energy site

Stanford University will create a $100 million energy research institute that will develop cheaper solar cells, technologies that use electricity more efficiently and ways to prevent the build-up of greenhouse gases in the atmosphere, reports the San Francisco Chronicle.

The new Precourt Institute for Energy will bring together Stanford researchers from various departments who already are developing better solar cells or new ways to make fuel. The financing, most of it from three alumni, also will allow the school to tackle more projects, hire more faculty and train more students interested in the field.

Stanford already has a $225 million Global Climate and Energy Project funded by Exxon Mobil, General Electric, Toyota and oilfield services company Schlumberger. The school also hosts the Precourt Center for Energy Efficiency. Both the climate project and the efficiency centre will become part of the new Precourt Institute for Energy.
Full report on the San Francisco Chronicle site