Coherent Corp.’s $500,000 Commitment to Promoting Diversity and Inclusion at HBCUs: An Inside Look
Coherent Corp., a technology company based in Palmer Township, has allocated $500,000 towards promoting diversity, equity, and inclusion (DEI). The company, known for manufacturing lasers and semiconductor materials, aims to support initiatives that encourage entrepreneurship at Historically Black Colleges and Universities (HBCUs) as well as a scholarship program for Black scientists.
Coherent has committed to supporting the Leadership Needed Foundation with $375,000 to foster academic programs at HBCUs and Minority Institutions. This financial support will include money, equipment, and materials to help train African Americans and other minorities to become future leaders and entrepreneurs. Additionally, Coherent has set aside $125,000 for the Optica Foundation Amplify Scholarship for Black scientists. 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. According to him supporting initiatives like those at HBCUs is crucial in unlocking the full potential of talented individuals.
Coherent is a publicly traded company listed on the New York Stock Exchange under the ticker symbol COHR. As of the latest market close its shares were valued at $55.06 resulting in a market capitalization of $8.36 billion . Over the past 52 weeks Coherent’s share prices have fluctuated between a high of $67.94
