Coherent Corp., a technology company located in Palmer Township, has announced that it will allocate $500,000 towards promoting diversity, equity, and inclusion (DEI) initiatives. The company, which specializes in manufacturing lasers and semiconductor materials, aims to support an entrepreneurship foundation at Historically Black Colleges and Universities (HBCUs) as well as a scholarship program for Black scientists.
Coherent has dedicated $375,000 towards fostering academic programs at HBCUs and Minority Institutions that aim to train African Americans and other minorities to become future leaders and entrepreneurs. This financial support will be given to the Leadership Needed Foundation. Additionally, $125,000 has been set aside for the Optica Foundation Amplify Scholarship for Black scientists, which has previously awarded scholarships to 35 science and engineering students from 21 countries. With Coherent’s contribution, the scholarship awards will increase from $7,500 to $10,000.
During an event in Atlanta, Coherent’s Chairman and Chief Executive, Dr. Vincent Mattera Jr., expressed his belief that “potential is universal but resources are not.” He emphasized the importance of developing talent and providing opportunities for young individuals interested in discovery and innovation. He stated that supporting initiatives like those at HBCUs is crucial in unlocking the full potential of talented individuals.
Headquartered in Saxonburg, Pennsylvania near Pittsburgh, Coherent is a publicly traded company listed on the New York Stock Exchange under the ticker symbol COHR. As of the latest market close
