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Duke Energy invests $600,000 in North Carolina's community colleges to build next generation workforce

1. Duke Energy Foundation grants $500,000 to 19 community colleges for workforce development. 2. An additional $100,000 supports the Forward Fund for student access to training. 3. Duke Energy has invested over $6.6 million in workforce development in five years. 4. The Forward Fund provides zero-interest loans for students in training programs. 5. Duke Energy aims for net-zero carbon emissions by 2050 while modernizing infrastructure.

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Why Bullish?

The significant investment in workforce development may enhance DUK's operational capabilities and align with industry needs, potentially improving profitability and investor confidence. Historically, similar commitments have coincided with positive stock performances as companies like DUK position themselves favorably in growing markets.

How important is it?

The funding initiative supports DUK's clean energy ambitions and addresses workforce shortages, making it highly relevant to its business model and future growth.

Why Long Term?

Building a skilled workforce would ensure sustainable growth and operational stability over time. Similar industry initiatives have yielded long-term benefits, improving financial outlooks as skilled labor shortages are addressed.

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A total of 19 community colleges will receive $500,000 in grant awards Additional $100,000 will support the Forward Fund to expand access to training opportunities for students Duke Energy's ongoing commitment to workforce development totals more than $6.6 million over the last five years , /PRNewswire/ -- Duke Energy Foundation today announced $500,000 to support 19 North Carolina community college programs that are creating a pipeline of skilled workers who will help meet the energy industry's growing workforce needs. A $100,000 grant will also support the Forward Fund to help students in Southeastern North Carolina attain high-wage employment opportunities. As North Carolina continues to deploy modern energy infrastructure and meet the needs of a growing state, Duke Energy Foundation is investing in programs that will build the next generation workforce and create access to training and job skills that fit community needs. These grants are part of Duke Energy's ongoing commitment to workforce development, which totals more than $6.6 million over the last five years. "As our state and industry continue to grow, North Carolina's community colleges are helping us meet the moment," said Kendal Bowman, Duke Energy's North Carolina president. "As technologies change and we modernize our energy fleet, we want talent here in the state to help us support our communities and build a smarter energy future for customers." Durham Technical Community College received a $25,000 grant to enhance its Electric Line Technician Training program. "Duke Energy's continued commitment to Durham Tech ensures we are connecting skilled individuals to good jobs like electric line technicians," said Durham Technical Community College President J.B. Buxton. "We are proud to be one of the few locations in the state that offers a pathway to these in-demand positions that communities rely on to keep the lights on." A full list of community colleges receiving funds, along with grant recipient quotes, can be viewed, here. For the first time, Duke Energy Foundation is also making an investment in the Forward Fund (TFF). TFF provides zero-interest loans to cover essential life expenses like transportation and child care, allowing students to focus on school full time. TTF participants are enrolled in short-term training programs directly connected to regional employer demand and high-wage employment opportunities. Repayments begin after participants earn a minimum salary requirement and are cycled back into the fund for loans to future learners. "The Forward Fund is thrilled to receive this grant from Duke Energy Foundation to expand access of our customized, student-centered financing to students enrolling in proven Electrical Lineworker programs in Southeastern North Carolina and across the state," said Meaghan Dennis, founder and chief executive officer. "Our zero-interest loans cover tuition, fees and life expenses for students during the program, removing the financial hurdles that may prevent them from enrolling or graduating. We're excited to be part of the workforce solution for high-wage energy careers in the state." Duke Energy Foundation Duke Energy Foundation provides more than $30 million annually in philanthropic support to meet the needs of communities where Duke Energy customers live and work. The Foundation is funded by Duke Energy shareholders. Duke Energy Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. The company's electric utilities serve 8.4 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 54,800 megawatts of energy capacity. Its natural gas utilities serve 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky.  Duke Energy is executing an ambitious clean energy transition, keeping reliability, affordability and accessibility at the forefront as the company works toward net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050. The company is investing in major electric grid upgrades and cleaner generation, including expanded energy storage, renewables, natural gas and nuclear.   More information is available at duke-energy.com and the Duke Energy News Center. Follow Duke Energy on X, LinkedIn, Instagram and Facebook, and visit illumination for stories about the people and innovations powering our energy transition. Contact: Garrett Poorman24-hour media line: 800.559.3853 SOURCE Duke Energy WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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