Coherent Corp. Commits $500,000 Towards Diversity and Inclusion Initiatives at HBCUs and Minority Institutions

Coherent Corp., a technology company based in Palmer Township, has made a significant commitment to promoting diversity, equity, and inclusion (DEI) by allocating $500,000 towards various initiatives. The company, known for its expertise in laser manufacturing and semiconductor materials, aims to support the growth of entrepreneurship at Historically Black Colleges and Universities (HBCUs) as well as a scholarship program for Black scientists.

Coherent’s CEO Dr. Vincent Mattera Jr., emphasized the importance of providing opportunities for talented individuals to develop their skills and reach their full potential. He expressed his belief that “potential is universal, but resources are not” during an event in Atlanta. This sentiment was reflected in the company’s decision to invest $375,000 into fostering academic programs at HBCUs and Minority Institutions aimed at training African Americans and other minorities to become future leaders and entrepreneurs. Additionally, $125,000 has been set aside for the Optica Foundation Amplify Scholarship for Black scientists which has previously awarded scholarships to 35 science and engineering students from 21 countries. With Coherent’s contribution, the scholarship awards will increase from $7,500 to $10,000.

Headquartered in Saxonburg, Pennsylvania near Pittsburgh, Coherent is a publicly traded company listed on the New York Stock Exchange under COHR with shares valued at $55.6 billion resulting in market capitalization of $8.4 billion as of latest market close. Over the past 52 weeks Coherent’s share prices have fluctuated between high of $67.94 and low of $26.29 showing strong growth potential