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A St. Louis couple have donated $300 million to a foundation that will support Missouri University of Science and Technology, the largest single gift in the history of Missouri higher education.

The gift from Fred Kummer, who graduated from the institution now known as Missouri S&T in 1955, and his wife June was announced Monday.

The record-setting donation will allow the university to establish a school of innovation and entrepreneurship, develop new areas for research, bolster the economic in Rolla and provide numerous scholarships and fellowships for students.

The Missouri University of Science and Technology, known as Missouri S&T, announced the gift Monday. (Photo: Missouri S&T)

“This gift is transformative for S&T, the Rolla region and our state,” said Mo Dehghani, Missouri S&T chancellor, in a news release.

Missouri S&T was founded in 1870 as the Missouri School of Mines and Metallurgy. The 8,000-student campus in Rolla is part