At graduation ceremonies on Friday, Caltech President Jean-Lou Chameau announced that Stewart and Lynda Resnick had donated $20 million toward a new sustainability center.

The estimated budget for the center, which will be named the Resnick Sustainability Institute is $90 million.

The Gordon and Betty Moore Matching Program contributed $10 million to launching the project.

The institute will focus on “innovative science and engineering developments required for groundbreaking energy technologies,” according to a statement from Caltech.

U.S. Secretary of Energy Steven Chu heard the announcement and gave the keynote speech at the 115th Caltech commencement ceremony.

Stewart Resnick is chairman and Lynda is vice-chairwoman of Roll International Corp., a private holding company that owns Paramount Farms, Fiji Water, Teleflora and other enterprises. The Resnicks ranked number 21 on the 2009 Los Angeles Buisness Journal list of Wealthiest Angelenos. The couple had an estimated worth of $1.5 billion.