Caltech gets $750M pledge for sustainability research

PASADENA, Calif. (AP) - The California Institute of Technology says it has received a pledge of $750 million from philanthropists and entrepreneurs Stewart and Lynda Resnick to support research into environmental sustainability.

Caltech says Thursday the commitment is the largest ever for such research, the largest in its history and the second-largest given to a U.S. academic institution.

Resnick says in a statement that breakthrough innovations are needed "to comprehensively manage the climate crisis" and that is only possible through significant investment in university research.

Resnick is chairman and president of The Wonderful Company and a senior member of the Caltech board of trustees.

The Wonderful Company is a privately held multibillion-dollar agribusiness that says it is the world's largest grower of tree nuts and the largest U.S. citrus grower, among other pursuits.