Oklahoma State University receives $50M for creation of Hamm Institute for American Energy
A combined $50 million dollar donation to Oklahoma State University was announced Wednesday for the purpose of creating a center rooted around energy.
The initial funding for the Hamm Institute for American Energy comes from both the Harold Hamm Foundation and Oklahoma oil and natural gas company Continental Resources. The two entities each gifted OSU $25 million dollars apiece.
OSU President Kayse Shrum said the gift will have a transformative impact on the school and the energy sector worldwide.
"With a state-of-the-art lab featuring wells drilled below the building, an auditorium, and classrooms, this building is fit for purpose,” Shrum said. "Mr. Hamm's and Continental's generosity will bring together the brightest minds and future energy sector leaders from around the world, all with a goal of solving one of society’s most pressing concerns. Together, we will change the trajectory of energy security in the United States.”
Hamm, who is also the founder and chairman of Continental Resources, says the donation is a step towards inspiring the next generation of energy leaders.
"It’s my hope the world will look to us for the best ideas when it comes to energy stewardship, research, and education," Hamm said. "This gift is about investing in our future — the future of Oklahoma and the future of the business I love."
The Hamm Institute will be located at what was formerly OSU Discovery in Oklahoma City’s Innovation District. The institute will host energy-related events and eventually house an interactive exhibit highlighting the history of Oklahoma’s energy leaders.