Missouri S&T announces ‘transformative’ $300 million gift

ROLLA, Mo. (AP) — A St. Louis businessman and his wife have donated $300 million to a foundation to support Missouri University of Science and Technology in what the university said is believed to be the largest single gift to a higher education institution in Missouri.

Missouri S&T announced the gift Monday from Fred and June Kummer.

He is the founder and chairman of St. Louis-based HBE Corp., a design and build firm for health care.

Kummer is a 1955 graduate.

The university will use the gift to establish a new school of innovation and entrepreneurship, develop new areas for research, and provide scholarships and fellowships for students.

Chancellor Mo Dehghani called it “transformative.”