Micron Donates SG$2.5 Million to Support COVID-19 Treatment Research and Local Charities
Micron’s 2-to-1 employee donations spans five charities to benefit a broad spectrum of the community
SINGAPORE, June 18, 2020 – Micron Technology, Inc. (Nasdaq: MU), today announced several donations totaling over 2.5 million Singapore dollars from its Micron Foundation COVID-19 Relief Fund to support Singapore communities through the unprecedented coronavirus pandemic. Funds will go toward addressing immediate and future needs of those affected by the health crisis, and include a commitment to local government initiatives and a collaboration with a premier university to research potential treatments for the virus.
“As local organizations continue to be overwhelmed by needs that outpace what they can provide, Micron remains committed to doing all that we can to alleviate the impact of this pandemic in Singapore and ensure equal access to support organizations and families in need,” said Chen Kok Sing, corporate vice president and Singapore country manager. “Micron’s funding to local charities is a direct reflection of the value we place on our people and the communities in which we operate.”
Joining the global effort to find a cure for the virus, the Micron Foundation has committed more than SG$500,000 to help discover new treatment therapies. A research team from the National University of Singapore (NUS) has developed a pioneering platform known as IDentif.AI, which uses AI to identify the optimal combination and dosage of drugs that can be used as an interim treatment for COVID-19. The IDentif.AI platform could play a key role in finding effective drug combinations that combat the virus as it mutates.
“Identifying a drug that can be used to treat COVID-19 is a grueling task, which requires both time and precision given the amount of possible drug combinations,” said Professor Dean Ho, director of the N.1 Institute for Health and the Institute for Digital Medicine and head of Department of Biomedical Engineering at NUS. “Treatment for this virus remains a high priority, and we are thankful that Micron recognizes the need and urgency in optimizing therapy against COVID-19. Micron’s support and commitment will go a long way in speeding up the search for suitable treatments to be used here in Singapore and globally.”
Through Micron’s 2-to-1 employee donation matching program, Singapore team members have raised a total of SG$1.88 million — almost doubling the initial target of SG$1 million. In addition to cash donations, Micron’s unique program also allowed employees to exchange their paid annual leave for monetary donations to charities, which were also matched by Micron. The raised funds were distributed to five charities spanning a spectrum of beneficiaries, including children, older adults, differently abled people, and vulnerable families. The five chosen beneficiaries are Children’s Wishing Well, The Food Bank Singapore Ltd, Down Syndrome Association (Singapore), Daughters of Tomorrow, and Blossom Seeds.
Micron has a significant presence in the region and has participated in the Singapore Economic Development Board initiative to support Johor, Malaysia, front-line health care workers with a donation of more than SG$14,000 to buy KN95 masks and hand sanitizer. Micron has pledged more than SG$100,000 to The Invictus Fund set up by the National Council of Social Services (NCSS), which will support 450 local social service agencies under the NCSS umbrella. Micron also contributed 40,000 masks to three organizations benefiting older people, including Blossom Seeds, NTUC Health and Ace Senior.
Micron also continues to contribute to workforce requirements disrupted by COVID-19, such as the SGUnited Traineeship Program. As one of the key partners in the program, Micron will offer 200 positions to start in 2020 for new graduates from universities, polytechnics, and Institute of Technical Education (ITE) colleges.
All these initiatives build on the company’s earlier pledge to commit US$35 million globally, including a Micron Foundation relief fund of US$10 million to help those disproportionately affected by COVID-19. This pledged amount also includes increasing employee gift matching, introducing financial assistance for team members through grants, providing in-kind support by accelerating payments to small business suppliers, and donating facilities and supplies for emergency medical response.
About Micron and Micron Foundation
We are an industry leader in innovative memory and storage solutions. Through our global brands — Micron® and Crucial® — our broad portfolio of high-performance memory and storage technologies, including DRAM, NAND, 3D XPoint™ memory and NOR, is transforming how the world uses information to enrich life. Backed by more than 40 years of technology leadership, our memory and storage solutions enable disruptive trends, including artificial intelligence, 5G, machine learning and autonomous vehicles, in key market segments like mobile, data center, client, consumer, industrial, graphics, automotive, and networking. Our common stock is traded on the Nasdaq under the MU symbol. To learn more about Micron Technology, Inc., visit micron.com.
Since its founding in 1999, the Micron Foundation has contributed over $100 million through philanthropy and people to communities where our team members live and work. The Foundation and Micron's corporate giving are driven by the Micron Gives organization with grants, programs and volunteer efforts focused on promoting science and engineering education and addressing basic human needs. To learn more, visit micron.com/foundation and follow the Foundation on Twitter @MicronGives.
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