Hannon Armstrong Foundation Establishes Climate Solutions Scholarship Program to Support Sustainability-Focused Students from Historically Underrepresented Communities

$200,000 Grant to Aid Initial Cohort of Undergraduates from Morgan State University and Miami University

ANNAPOLIS, Md.--(BUSINESS WIRE)-- The Hannon Armstrong Foundation, a non-profit philanthropic organization funded by a Social Dividend received from Hannon Armstrong, a leading investor in climate solutions, today announced the establishment of the Hannon Armstrong Climate Solutions Scholarship Program to provide financial assistance for high-achieving, sustainability-focused students from underrepresented communities. At launch, the participating schools include Baltimore-based Morgan State University, Maryland's Preeminent Public Urban Research University, and Miami University in Oxford, Ohio, recently named to the Top 40 "Best Value Public Colleges" list by Princeton Review Reports.

Applications for the Hannon Armstrong Climate Solutions Scholarship Program are open to rising undergraduate juniors and seniors from the two schools who have demonstrated interest in sustainability. The needs-based scholarships will cover the balance of full-year tuition and room & board expenses for an expected initial cohort of up to five undergraduate students interested in pursuing careers related to climate action and sustainability. Outreach efforts will focus on applicants from underrepresented populations and those who come from disadvantaged communities. Morgan State and Miami University will fully administer the scholarships, and recipients will be encouraged to seek mentorship opportunities with Hannon Armstrong employees.

"Our foundation's announcement of its first grant to support sustainability-focused undergraduates from disadvantaged backgrounds serves as an important step forward in our journey to drive meaningful and sustainable impact at the intersection of climate action and social justice," said Hannon Armstrong Foundation President Jeffrey W. Eckel. "By providing critical financial support and mentorship opportunities to the next generation of climate leaders, we strengthen both our industry and the communities we serve."

“At Morgan State University our students are committed to advancing research that meets the demands of a global society and addresses the complexities of challenging issues like sustainability and climate change. And with the addition of these much-needed financial resources we will be able to create more opportunities for students to further their studies,” said David Wilson, president of Morgan State University. “We appreciate the Hannon Armstrong Foundation’s recognition of the unique needs that some of our students have and the investment being made in the continuation of their success by way of the Climate Solutions Scholarship Program. We look forward to the fruit that will be born from this collaboration.”

“We are deeply grateful to the Hannon Armstrong Foundation for their leadership and vision, which align with two important priorities for Miami University – sustainability and scholarship support for disadvantaged and underrepresented students," said Gregory P. Crawford, President, Miami University. “Miami’s Institute for the Environment and Sustainability, and our alumni, have been at the forefront of environmental studies and research for more than 50 years. This scholarship will help provide more opportunities to a new generation of students, who will be called upon to solve the most critical challenges of our time.”

About Hannon Armstrong Foundation

The Hannon Armstrong Foundation's mission is to accelerate a just transition toward an equitable, inclusive, and climate positive future. Through its quarterly Social Dividend, Hannon Armstrong (NYSE: HASI) funds the Hannon Armstrong Foundation, which provides cash and in-kind support to programs that align with our philanthropic priorities to preserve and restore natural resources and develop new solutions to pressing climate challenges; empower and create opportunity for marginalized individuals and communities; and strengthen the social fabric of the communities we serve to promote economic and climate resilience. For more information, please visit www.hannonarmstrong.org.

About Morgan State University

Morgan State University, founded in 1867, is a Carnegie-classified high research (R2) institution offering nearly 120 academic programs leading to degrees from the baccalaureate to the doctorate. As Maryland's Preeminent Public Urban Research University, and the only university to have its entire campus designated as a National Treasure by the National Trust for Historic Preservation, Morgan serves a multiethnic and multiracial student body and seeks to ensure that the doors of higher education are opened as wide as possible to as many as possible. For more information about Morgan State University, visit www.morgan.edu.

About Miami University

Established in 1809, Miami University is consistently ranked among the top 50 national public universities by the U.S. News & World Report for providing students with an Ivy League-quality education at a public-school price. Located in quintessential college town Oxford, Ohio—with regional campuses in Hamilton and Middletown, a learning center in West Chester, and a European study center in Luxembourg—Miami serves more than 21,600 undergraduates across 120 areas of study, and more than 2,500 graduate students through 70 master’s and doctoral degree programs. At this comprehensive research university, students engage and conduct research with premiere teacher-scholars. Miami adds $2.3 billion each year to Ohio’s economy through innovative partnerships and job creation. Miami is a NCAA Division I school, serving more than 500 student-athletes across 19 varsity sports. For more information, visit MiamiOH.edu.

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Source: Hannon Armstrong Sustainable Infrastructure Capital, Inc.