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Southern Company, Apple Invest $25 Mln Each To Launch Propel Center In Atlanta - Quick Facts

Southern Co. (SO) and tech giant Apple Inc. (AAPL) said Wednesday they have formed a partnership to launch the Propel Center, a new digital learning hub, business incubator, and global innovation headquarters in Atlanta, Georgia for students of historically black colleges and universities or HBCUs.

Both Apple and Southern Company are founding partners, with the Southern Company Foundation and Apple each contributing $25 million to this effort.

Southern Co. noted that the $25 million investment from the Southern Company Foundation will help grow Black entrepreneurship and provide much-needed technology resources to the workforce of the future.

The company's commitment is part of the $50 million multi-year initiative it announced in 2020 to provide scholarships, internships, leadership development, access to technology and innovation to support career readiness for students attending select HBCUs within the Southern Co. system's service footprint in Alabama, Mississippi, Georgia, North Carolina, Tennessee, and Virginia.

According to Southern Co., Propel is both a physical and virtual campus that is designed to provide HBCUs with shared resources to support their work of preparing leaders.

Students from 100-plus HBCUs will be able to connect with the brightest minds in the world via a physical campus and digital learning tools. They will also be able to connect with each other.

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