Georgia Tech Gets $40 Million+ Gift
The Georgia Institute of Technology has just gotten one of the largest gifts in its history: $43.6 million.
The money, most of which is an endowment, is going to Tech’s Renewable Bioproducts Institute. Until last month, it was called the Institute of Paper Science and Technology, but now the research focus on how to use trees, grasses, and all their components is changing. It is no longer just about pulp and paper.
“Now the industry is investigating how they can create new products that can be bolted onto an existing paper mill or used to source a new portfolio of products for the benefits of society,” says the Institute’s director, Norman Marsolan. He says bio-fuels made are the focus of much of the institute’s research right now.
The gift comes from the Institute of Paper Chemistry Foundation which is part of the Institute of Paper Science and Technology, a research arm of the industry. It merged with Georgia Tech in 2004.