The $100 million in new funds will enable the hiring of additional faculty and support new graduate students, in addition to the more than $30 million in yearly funding now spent on energy research.
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Precourt holds bachelor’s and master’s degrees in petroleum engineering from Stanford and an MBA from Harvard University. He has spent his career in the energy industry, holding president and/or CEO positions at Hamilton Oil Co.; Tejas Gas Corporation, subsequently a Shell Oil Co. subsidiary; and ScissorTail Energy and Hermes Consolidated, gatherers, transporters and processors of natural gas, crude oil and refined products.

He is convinced that Stanford research can influence national energy policy for the better. “The wonderful resources that are available at Stanford, and the multidisciplinary approach they have to developing working solutions, are really attractive in terms of making things happen,” he said.

On a personal level, Precourt said, “Stanford made a huge impact on my life, as I look back on it. It was a superb education and I made some wonderful friends that I’ve taken with me for my lifetime.” Precourt donated $50 million to the energy institute that bears his name.

A $40 million gift from Steyer and Taylor will create a new research center as part of the institute, the TomKat Center for Sustainable Energy.