Stevens Institute of Technology received a $1.5 million grant from Public Service Enterprise Group intended to be used for energy innovation and public service goals at the university over the next three years, Stevens announced on Tuesday.
The timeline of the partnership is divided into two tracks, energy innovation and public service. Under energy innovation, the grant money will be used to advance the university’s understanding of technologies for sustainable fuels and photo electronics as well as provide research opportunities for undergraduates, additional Ph.D scholarships and new faculty positions.
The public service track of the partnership will expand STEM education opportunities for underserved and economically disadvantaged demographics at the school by providing full-time scholarships.
“Companies like ours will look to the next generation of innovators to help with issues such as climate change and energy independence,” said Ralph Izzo, CEO and president of PSEG. “That requires people with the knowledge, curiosity and creativity.”