New Grundfos prize to stimulate research

29.10.2001

International pump manufacturer Grundfos (which has its headquarters in Denmark) has established a Grundfos prize, with the aim of providing stimulation, recognition and support for national and international research into visionary, groundbreaking solutions that benefit society, in the fields of technology, science and social science – either separately or in combination.

The Grundfos Prize has been established in recognition of the fact that our future welfare and prosperity is increasingly dependant on the ability of companies to transform new ideas into new, improved products and services.

As well as the honour of winning it, the prize itself consists of a "Be, Think, Innovate" sculpture and a cash award of up to 150,000 euro. This will be awarded annually on or around 19th May – the birthday of Grundfos founder Poul Due Jensens.

It is Grundfos' hope that the prize will be highly respected and much sought after, and that it will stimulate the kind of research the world so badly needs, according to group president Niels Due Jensens. He hopes that it will make a small but important contribution to redressing the disparity between the need for research on the one hand and the lack of financial resources on the other.

"A society that can't afford research – public or private – is not doing itself any favours, as that is a false economy in the long run; it will eventually become an impoverished society," says Jensen.

About Grundfos

With its headquarters in Bjerringbro and 58 companies in 43 countries around the world, the Grundfos group employs over 11,000 staff. With an output of 10 million pumps a year and a turnover of 1,277,453 euro for the year 2000, Grundfos is a global market leader in the production, sale, servicing and development of hi-tech pumps and pump systems.

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