Grundfos Foundation to donate $29 million to help fight COVID-19
The Grundfos Foundation, owner of Grundfos, expanded its budget for donations from planned $18 million to $29 million. 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 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 $17 million to philanthropic projects in 2019.
"In 2020, Grundfos turns 75," said Kim Nøhr Skibsted, executive director. "This is a good occasion for expanding the donation activities significantly, and we plan to commit $29 million 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."
The foundation's board has re-elected chairman Jens Maaløe and vice chairman Poul Due Jensen. The board also counts Estrid Due Hesselholt, Ingermarie Due Nielsen, Annette Due Jensen, Jens Moberg, Elsebeth Gerner Nielsen, Flemming Konradsen, Torben Ømark, Jens Erik Lysdahl, Rudy Martini, and Melinda Briski (replaces Zsuzsanna Tóth). The four last members are employee representatives.
”There’s a lot we can do with our knowledge, technologies and donations for people who are often overlooked, Kim Nøhr Skibsted said. "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."
