Hamm, founder of Continental Resources, and Oklahoma State University President Kayse Shrum said the Hamm Institute for American Energy will be the anchor tenant at what was previously known as OSU Discovery Center at 300 NE 9.
The Hamm Institute's mission is to educate the next generation of energy leaders — in Oklahoma, the United States and from around the world — cementing Oklahoma's legacy as a global energy leader.
"The generous gifts from Harold Hamm and Continental Resources to establish the Hamm Institute for American Energy will have a transformative impact on OSU and the energy sector worldwide," Shrum said. "With a state-of-the art lab featuring wells drilled below the building, an auditorium, and classrooms, this building is fit for purpose."
Transition to the institute is expected to start immediately with the $50 million to fund bringing researchers, scientists and students and faculty together to pursue innovation in producing energy while also looking at environmental concerns, pollution sources and solutions.
"You'll start to see things starting to happen today," Shrum said. "We're having meetings and we're moving full steam ahead. The wonderful thing about this facility is it needs no renovation or adaptation. It was built for this purpose. (The money) will be focused on programming."
Hamm and Bill Berry, CEO of Continental Resources, said their gifts reflect their intention to ensure the company's future remains in Oklahoma.
"The Hamm Institute belongs here in Oklahoma," Berry said. "It is part of the Continental mission — to find, nurture and inspire the next generation of energy leaders. We envision the Hamm Institute for American Energy to be the epicenter of learning, research and energy innovation for decades to come."
CENTER 'WILL RAISE THE BAR FOR AMERICAN ENERGY INNOVATION'
The announcement Wednesday at the institute was attended by more than 200 people, including Gov. Kevin Stitt, Mayor David Holt, U.S. Reps. Stephanie Bice and Frank Lucas, Secretary of Education Ryan Walters and Secretary of Energy and Environment Kenneth Wagner.
"Oklahoma is an energy state, and Harold is our energy icon," Stitt said. "This collaboration between one of our great universities and one of our most innovative and successful energy companies and entrepreneurs will raise the bar for American energy innovation."
Walters predicted the institute will play a leading role in developing clean and reliable energy.
"The thing about this university is it has always been a leader in STEM," Walters said. "This new institute is going to put more of an emphasis on that and will set more women and minority students down the path to helping our state and national economy remain innovative in the future."
Jeanette Mendez, chief academic officer at OSU, called the institute an "unimaginable" opportunity for OSU and its system of five campuses and 34,000 students.
"This is going to impact every college and bring all of our colleges together," Mendez said. "We have a chance to build something from the ground up and add to what we've already been doing. It's going to impact our faculty, our students, and bring new opportunities for entrepreneurship to this community."
The complex being turned into the institute was originally opened in 2016 as home to the GE Global Research Oil and Gas Technology Center. The division was then merged with Baker Hughes, which in 2020 donated the $110 million complex and adjoining parking garage to OSU. Baker Hughes leases the top floor of the building.
'INVESTING IN OUR SHARED FUTURE'
Hamm's donation isn't the first for the Innovation District. His donations to establish and further the mission of the Harold Hamm Diabetes Center a half mile east of the institute has totaled $65 million since 2007. Hamm and Continental also donated $10 million to the University of North Dakota to establish the Harold Hamm School of Geology and Geological Engineering.
"This gift is about investing in our shared future — the future of our country and the state and people I love," Hamm said. "It's time, once again, for Oklahoma to become a global energy leader," Hamm said. "It's my hope the world will look to us for the best ideas when it comes to energy stewardship, research, and education."
The initial funding for the institute will be a gift of $50 million — $25 million from the Harold Hamm Foundation and $25 million from Continental Resources. The deal came together quickly, starting just three months ago. Hamm said he sees the donations as seed money and hoping other giants in the energy industry will join him.
"As a land grant university, we're always looking at opportunities where we can have an impact in the state, and also the nation and the world," Shrum said. " Mr. Hamm is a transformative figure in the energy sector and energy is important to the state and Oklahoma State University. And it became apparent this will become a great partnership."
The building will eventually house the Oklahoma Hall of Energy Legends Interactive Museum, a public exhibit highlighting the history and storied legacy of Oklahoma's great energy leaders.
Hamm, a native Oklahoman and chairman of Continental Resources, began his career in oil and gas over five decades ago, starting out with a single oil service truck and a dream. In an interview on Wednesday, Hamm reflected on Oklahoma's history as a center for the oil and gas industry, where Phillips 66, Conoco and Cities Service were all started.
Hamm specifically cited John and Larry Nichols, founders of Devon Energy, among giants of the energy industry whose stories will be told in the museum. Hamm said his goal is to see a renewed focus on energy research, free of emotions that he believes have hampered progress on making the country energy independent.
The location of the institute is a part of that history, as well. An oil well is located inside the new institute and will be used as part of its research mission. Much of the area east of Interstate 235 and downtown, including all of the Innovation District, was a forest of oil derricks in the 1920s, and some wells remain, including one at the Capitol steps.
"I see the institute as a game changer — a place where the best and the brightest will come together to responsibly solve the world's energy challenges," Hamm said. "A third of the world lives in energy poverty. We need to fix that. And we need to make sure Americans will always have an abundance of reliable, affordable energy for generations to come."
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