Gentherm Commits $250,000 to Support GreenLight Fund Detroit

Rhea-AI Summary

Gentherm (NASDAQ: THRM) has committed to donate $250,000 over five years to the GreenLight Fund Detroit, supporting initiatives aimed at alleviating poverty in the area. This annual contribution of $50,000 will bolster existing programs and introduce four new proven initiatives. Among the beneficiaries are the New Teacher Center and the Center for Employment Opportunities, both focusing on education and employment. Gentherm's Senior VP emphasized the importance of community support, while GreenLight Fund leadership expressed gratitude for the partnership aimed at fostering economic mobility.

Positive

• Gentherm's commitment of $250,000 enhances its corporate social responsibility profile.
• The donation supports proven educational and employment programs, potentially improving community relations.
• Investment in local programs may lead to a positive brand image and increased customer loyalty.

Negative

• None.

NORTHVILLE, Mich., Dec. 21, 2021 (GLOBE NEWSWIRE) -- Gentherm (NASDAQ: THRM), a global market leader and developer of innovative thermal management technologies, today announced that it will donate $250,000 over the next five years to the GreenLight Fund Detroit, an organization that raises and invests funds to help break down barriers to prosperity in high poverty areas.

Gentherm’s annual contribution of $50,000 will assist the GreenLight Fund in supporting programs in its existing portfolio as well as four additional proven programs selected over the next five years. Examples of current GreenLight Detroit portfolio organizations include the New Teacher Center, which assists Detroit Public Schools Community District by training seasoned teachers to be mentors for new teacher success and retention, and the Center for Employment Opportunities, which is dedicated to immediate employment and support services to help those with recent criminal convictions transition back to stable, productive lives.

“Giving back to where we live and work ensures we are a supportive and engaged member of our community,” said Barb Runyon, Senior Vice President and Chief Human Resources Officer of Gentherm. “GreenLight Fund does remarkable work in the Detroit community, and we are very excited to be a partner in supporting programs that will make a meaningful difference in residents’ lives for years to come.”

“We are so grateful for Gentherm’s generous investment in GreenLight Detroit Fund II,” said John Simon, GreenLight Fund Co-founder and Board Chair. “Their commitment supports GreenLight’s locally-driven process as we work together with the community to address four more unmet needs with proven programs that help remove barriers and open economic mobility opportunities.”

Rishi Moudgil, GreenLight Detroit Executive Director added, “Effectively growing and scaling programs that are needed in Detroit, and helping embed them in the local ecosystem is a community-wide effort. We so appreciate having Gentherm part of the coalition, helping to strengthen opportunities in Detroit with measurable impact.”

Investor Contact
Yijing Brentano
investors@gentherm.com 
248.308.1702

Media Contact
Melissa Fischer
media@gentherm.com 
248.289.9702

About Gentherm
Gentherm (NASDAQ:THRM) is a global developer and marketer of innovative thermal management technologies for a broad range of heating and cooling and temperature control applications. Automotive products include variable temperature Climate Control Seats, heated automotive interior systems (including heated seats, steering wheels, armrests and other components), battery performance solutions, cable systems and other electronic devices. Medical products include patient temperature management systems. The Company is also developing a number of new technologies and products that will help enable improvements to existing products and to create new product applications for existing and new markets. Gentherm has more than 11,000 employees in facilities in the United States, Germany, China, Hungary, Japan, Korea, North Macedonia, Malta, Mexico, United Kingdom, Ukraine, and Vietnam. For more information, go to www.gentherm.com.

About GreenLight Fund
The GreenLight Fund helps open opportunities for children, youth and families experiencing poverty by engaging deeply with the community and running a consistent annual process to: elevate priority issues not yet being addressed; invest in innovative, proven programs that have a significant, measurable social impact; and galvanize local support to accelerate the selected program’s launch and ensure growth and long-term viability. Launched in Detroit in 2016, the nonprofit organization is addressing critical needs in Atlanta, Baltimore, Boston, Charlotte, Cincinnati, Detroit, Kansas City, Philadelphia, the San Francisco Bay Area and the Twin Cities. More information at greenlightfund.org/detroit.

FAQ

What is Gentherm's donation to the GreenLight Fund Detroit?

Gentherm is donating $250,000 over five years to the GreenLight Fund Detroit.

How much will Gentherm contribute annually to the GreenLight Fund?

Gentherm will contribute $50,000 each year for five years.

What programs will the GreenLight Fund support with Gentherm's donation?

The donation will support existing programs and introduce four new proven initiatives.

Which organizations are part of the GreenLight Fund Detroit's portfolio?

Current organizations include the New Teacher Center and the Center for Employment Opportunities.

How does Gentherm's donation impact its community relations?

The donation enhances Gentherm's community support and engagement, potentially improving its public image.