The main donation areas remain water, research, and inclusion, but the Foundation will move its attention to the fight against COVID-19 this year
March 25, 2020. By News Bureau
In celebration of Grundfos' 75th anniversary, the Poul Due Jensen Foundation (Grundfos Foundation) has announced that it has expanded its budget for donations from planned 125m DKK to 200m DKK. The main donation areas remain water, research, and inclusion, but the Foundation will move its attention to the fight against COVID-19 this year.
The Poul Due Jensen Foundation has received the annual report from the Grundfos Group and greatly appreciates the historic levels of growth and profitability. The result increases dividend paid out to the Foundation whose primary purpose is to own and develop Grundfos. The Foundation also contributes to society through philanthropic donations within three strategic areas: Research and learning, Water and development, and Inclusion. The Foundation committed 117m DKK to philanthropic projects in 2019.
Kim Nøhr Skibsted, Executive Director, Poul Due Jensen Foundation said: "In 2020, Grundfos turns 75. This is a good occasion for expanding the donation activities significantly, and we plan to commit 200m DKK to donations this year. The funds will primarily support our existing donation areas where we support mission-driven research and learning, sustainable solutions, humanitarian aid through access to drinking water and inclusion of the socially vulnerable through public-private collaboration. There's plenty of worthy causes to support, and our donations should help bring about new, groundbreaking solutions."
In 2019, the Foundation celebrated completion of the Nyarugusu Refugee Camp water distribution system and bringing access to drinking water to over 200,000 people in Western Tanzania in partnership with the American NGO, Water Mission. The Foundation supports similar projects in collaboration with UNICEF, Plan International and Oxfam.
COVID-19 means a change of focus
“There’s a lot we can do with our knowledge, technologies and donations for people who are often overlooked. Water is a source of life and a prerequisite for improving quality of life and economic development. WASH (Water, Sanitation, Hygiene) is also a core tool to shield humans against the corona pandemic, and we are following the situation closely to see how we can be of assistance. Within research, we will support changed priorities that can help mitigate the consequences of the COVID-19 outbreak now and in future. We will remain true to our partnerships, but we will adapt to the new reality in Denmark, and globally”, explains the Executive Director.
AI will move from being a good-to-have technology to a must-have technology
We Need to Create Employment Opportunities that would Inspire Women to Join Clean Energy Space
There Must be a Penal Mechanism on Discoms for Delay in Signing PPAs, Payments Release
India’s Power Sector Must be Financially, Physically Resilient to Secure Investments it Needs