LITTLE ROCK, AR (KAIT) - The Wal-Mart Foundation this afternoon announced a $369,000 gift to the Arkansas Biosciences Institute at Arkansas State University in the Governor's Conference Room. The donation will be used to meet the cost share requirement for a U.S. Dept. of Energy grant awarded to the university.
"The level of confidence in ASU-Jonesboro shown by the Wal-Mart Foundation is very gratifying," commented Dr. Robert Potts, chancellor of the Jonesboro campus. "Dr. Elizabeth Hood's research into new biofuels technology has the potential to contribute to the development of a knowledge-based economy in Arkansas. We are extremely grateful for the genorosity and visionary spirit demonstrated by these gifts from the Wal-Mart Foundation."
The funding opportunity from the Energy Dept. requires a minimum non-federal cost-share of 20 percent to develop the technology to enable the biomass-to-ethanol industry.
The Arkansas Biosciences Institute (ABI) at ASU-Jonesboro is pursuing the commercialization of biobased product development built upon the state's agriculture and forestry resources.