Bank of Montreal Monday announced a $4 million investment in Perimeter Institute for Theoretical Physics, located in Waterloo, Ont.

The contribution establishes the BMO Financial Group (TSX:BMO) Isaac Newton Chair in Theoretical Physics at Perimeter Institute, and represents the largest single donation ever made by BMO to support science. It is also the largest corporate donation received by Perimeter Institute in its 10-year history.

BMO’s $4 million investment will be matched by $4 million in private funds from the institute’s existing endowment for a total of $8 million. It is anticipated this private core funding will attract additional funding partners.

The BMO Financial Group Isaac Newton Chair in Theoretical Physics at Perimeter Institute represents the first of five such positions to be named after scientists whose insights have defined modern physics: Isaac Newton, James Clerk Maxwell, Niels Bohr, Albert Einstein and Paul Dirac.

“Perimeter Institute is already a global leader in basic research, and there is no question these Chairs will serve as a magnet for talent, bringing even more of the best theoretical physicists to Canada,” said Bill Downe, president and CEO, BMO Financial Group.

IE