Oracle Corporation, through its CEO Safra Catz, unveiled the company's plans to build a high school on its Redwood Shores campus.

The school is expected to be completed in August of 2017, and will be called Design Tech High School  or d.tech.

d.tech is a free, innovative charter school that incorporates technology, design thinking and problem solving skills to help students prepare for successful careers.

CEO Safra Catz was reported saying, "Seventeen years ago, Larry Ellison told me that he'd love to have a school where students learn to think. Our support of d.tech reflects Larry's vision for a unique high school founded on principles we believe in: innovation, creativity, problem-solving and design-thinking."

"We couldn't be more excited to build this school on our campus and to see the positive impact it will undoubtedly have on the students, teachers, Oracle employees and the Bay Area community."

d.tech was originally launched in August 2014 as a California public charter high school in the San Mateo Union High School District.

Oracle Corp had recognized tremendous potential for the high school's unique academic model and through a partnership with the school, is providing the land and building the new facility.

The company plans to construct a 64,000-square-foot state-of-the-art, LEED-certified school that will be used by 550 students and 30 faculty, as well as the local community.

It was reported that the current site of d.tech was not so conducive since it is housed in a warehouse in San Mateo.

In a press release, Oracle's Dr.Ken Montgomery and d.tech's Executive Director and Founder explains, "d.tech will be the world's first educational institution located on a high-tech campus which will give students immeasurable opportunities,"

He also added, "We are incredibly grateful to Oracle for giving d.tech a home - a place to inspire and nurture students who will transform our community and world for the better."

Through Oracle Education Foundation, one of Oracle's educational philanthropic arms, Oracle Volunteers will continue to work closely with Design Tech High School students on projects at the intersection of STEAM (Science, Technology, Engineering, Arts and Math) disciplines.

Oracle's longstanding commitment to education includes donating $2.5 billion annually in software, curriculum, and faculty training to educational institutions through Oracle Academy. The company also donates millions in cash annually to nonprofit and nongovernmental organizations around the world through Oracle Giving.

Daily Mail reports Oracle's commitment to d.tech comes less than a week after Facebook's billionaire CEO Mark Zuckerberg, and his wife, Priscilla Chan, announced plans to finance a school for pre-school through eighth-grade students in one of Silicon Valley's few least affluent communities, East Palo Alto.

The Primary School will provide health care services in addition to educational instruction for up to 700 students.Zuckerberg and Chan also have given $100 million to schools in New Jersey and pledged to donate another $120 million to other schools located in low-income communities in the San Francisco Bay Area.

USNews added comments that since starting Oracle Corp. 38 years ago, Ellison has accumulated a fortune of $54 billion that has enabled him to own an island in Hawaii, fancy homes around the world and garner two victories in sailing's premier race, the America's Cup.

However, Ellison will not be financing the d.Tech school building. Oracle Corp is footing the entire bill and has declined to disclose how much it expects to spend.