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Rivian reveals first $10M in grants for long-promised Rivian Foundation

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Rivian reveals first $10M in grants for long-promised Rivian Foundation - TechCrunch

Quick Summary:

Rivian has revealed the first $10 million worth of grants from the Rivian Foundation, just three years after promising to make the “natural world” a “stakeholder in our success.” The company launched a website for the foundation on Monday that details 41 grantees who will collectively receive just north of $10 million in funding.

Rivian actually set up two entities to tackle the company’s lofty goal: Forever by Rivian, Inc., a 501(c)(4) social welfare organization, and the Rivian Foundation, a “non-operating” private 501(c)(3).

Until now, it was unclear what the Rivian Foundation — and an adjacent entity called Forever by Rivian — would prioritize, where it would invest, and how its strategy might be affected by a diminished pool of capital.

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Article Details

Author / Journalist: Sean O'Kane

Category: Technology

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Published On: 2024-09-23 @ 18:15:21 (5 days ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 1211 words

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Copyright Owner: © TechCrunch

News ID: 22664281

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