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The parent company of the state's largest electric utility announced Wednesday that it will fund a research institute at Montclair State University devoted to conservation and other environmental issues. The PSEG Institute for Sustainability Studies will act as a think tank for scholars to work with corporations in developing ways to best use natural resources without damaging them. A conference in the fall with speakers from across the globe will be the institute's first major event. PSEG will give Montclair State $400,000 over three years to fund the institute.