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Energy turned out to be a great career for Doug Kimmelman, '82. Now it's a philanthropic priority for him and his wife, Carol.
Power and Finance: $5 Million Gift from Energy Investor
Fall 2012
He arrived at Stanford almost 35 years ago, a long way from his New Jersey home, nervous, and unsure what to expect. But it was here that Doug Kimmelman, '82, discovered the fields of energy and financial markets, two areas that would form the foundation of his career.
"For me, giving to an institution that put me on the right trajectory is very gratifying," says Kimmelman, who recently committed $5 million toward energy and environmental initiatives at Stanford.
His gift will establish a senior fellowship at the Ward W. and Priscilla B. Woods Institute for the Environment at Stanford, four graduate fellowships in energy research within the Emmett Interdisciplinary Program in Environment and Resources, and funding for seed grants in the Precourt Institute for Energy.
"So much research and creativity is needed for dealing with expanding our energy choices in a clean and cost-effective manner, and Stanford is really at the forefront of this work," says Kimmelman, founder and senior partner of Energy Capital Partners, a private equity firm focused on investments in North American power generation, electric transmission, and midstream oil and gas assets. "In addition, my wife, Carol, has been an inner-city elementary school teacher in South Central Los Angeles, so we're very interested in supporting education."
This is not Kimmelman's first gift to energy research at Stanford. In 2006, in honor of his 25th reunion, he established the Kimmelman Professorship with a $2.5 million gift, which supports a faculty member focused on alternative or renewable energy. Kimmelman also made a $1 million undergraduate scholarship commitment in 2000.
The Stanford Woods Institute for the Environment harnesses the expertise of leading academics and decision-makers to create practical solutions for people and the planet.
The Emmett Interdisciplinary Program in Environment and Resources enables graduate students to cross-train in the many fields of study necessary to solve environmental challenges.
The Precourt Institute for Energy engages in a broad-ranging, interdisciplinary program of research and education on energy.
Prior to launching Energy Capital, Kimmelman was a partner with Goldman Sachs, where he was instrumental in forming the firm's principal investing activities in the power sector and spent 22 years exclusively focused on electric and gas utilities.
Speaking from his years of business experience, Kimmelman notes, "A lot of our environmental challenges and energy choices will involve projects with very long lead times. This requires research, technological advances, creating public awareness, and building policy support around traditional and renewable energy options. Stanford is uniquely positioned to put forth well thought out and practical choices for our energy future, and it's an honor to support these efforts."