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Wednesday, 24 June 2015, 08:15 HKT/SGT

Source: Lubrizol
The Lubrizol Foundation and Kent and Kelvin Smith Foundations Together Give $2 Million Grant to Case Western Reserve University's think[box]

CLEVELAND, Ohio, June 24, 2015 - (ACN Newswire) - The Lubrizol Foundation, The Kent H. Smith Charitable Trust and The Kelvin and Eleanor Smith Foundation today announce the awarding of a combined $2 million grant to Case Western Reserve University's think[box] innovation lab. The Lubrizol Foundation contributed a leadership grant of $1 million and The Kent H. Smith Charitable Trust and the Kelvin and Eleanor Smith Foundation each contributed $500,000. In recognition of the grant, Case Western Reserve will name level four of think[box] The Lubrizol and Kent and Kelvin Smith Foundations Floor. This floor is dedicated to bringing individuals and teams together to assemble and fabricate ideas and concepts.

Case Western Reserve's think[box] is a comprehensive innovation space featuring the top-end, professional grade fabrication and prototyping equipment, expertise and flexible spaces necessary to turn a eureka moment into a start-up venture. In 2014 renovations were started on the Richey-Mixon Building, a seven-story, 50,000-square-foot facility that is ideally suited to be the new home of the think[box] innovation lab. Already a bustling hub of invention and entrepreneurship in its current temporary space, think[box] attracts an average of 3,000 visits each month. Once all of the renovations are completed, think[box] will be one of the largest university-based innovation centers in the world.

"We deeply appreciate these commitments from The Lubrizol Foundation, the Kent H. Smith Charitable Trust and the Kelvin and Eleanor Smith Foundation," says Barbara R. Snyder, president, Case Western Reserve University. "The newly named floor magnificently upholds the corporation and family's respective legacies and visions. It is only fitting that this support for think[box] will help future students pursue their own dreams of innovation and entrepreneurship."

Open to students of any school or discipline at the university and to the external community, think[box] facilitates and encourages collaboration and the unfettered pursuit of turning ideas into inventions. Community members throughout Northeast Ohio, including those from public schools and libraries, not only benefit from the tools within think[box], but also benefit from the intangibles of staff expertise, organic networking and spreading ideas through the sharing of space with other innovators.

About The Lubrizol Foundation

The Lubrizol Foundation is an endowed 501(c)(3) entity and is the primary source of The Lubrizol Corporation's philanthropy in the United States. Established in 1952, The Lubrizol Foundation makes grants in support of education, health care, human services, civic, cultural, youth and environmental activities. The Foundation creates and supports partnerships that improve communities in which Lubrizol employees live and work.

About The Kelvin and Eleanor Smith Foundation

Established in 1955, The Kelvin and Eleanor Smith Foundation is a private family foundation that makes grants to non-profit, charitable organizations in Northeast Ohio. Its mission is to support non-profit organizations that adhere to excellence in their missions, creativity in approach, fiscal responsibility and leadership in their service to the community, which ultimately makes a positive impact for the citizens of Northeast Ohio.

About The Kent H. Smith Charitable Trust

The Kent H. Smith Charitable Trust was founded in 1971 by Kent and Thelma Smith under the name of the 1525 Foundation, an anonymous gift giving entity. Its mission is to strengthen education, preserve the environment and help people and organizations help themselves. The couple found great satisfaction in deflecting recognition, preferring to direct attention toward the many organizations benefiting from their gifts. Only after Kent Smith's death was the Trust renamed to celebrate the difference he made for so many.

Media Contact
Karen Lerchbacher
Website: www.lubrizol.com


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Lubrizol via Globenewswire

Topic: Press release summary

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