The Dominion Energy company plans to spend $25 million to support historically black colleges and universities in four states, including Virginia, and an additional $10 million on scholarships for African Americans and other students of color in its service territory, the Richmond-based company announced Thursday.

The six-year initiative is part of a nationwide reckoning over racial and ethnic inequities in the wake of the May 25 killing of George Floyd, who died after a Minneapolis police officer pressed his knee into Floyd’s neck for nearly nine minutes.

“We all know there are no actions or words that will immediately heal the hurt caused by 400 years of institutional racism,” Thomas F. Farrell, Dominion’s chairman, president and chief executive, said in a news release.

“But since early June, we have seen signs of change and growth,” Farrell said. “Our country is moving forward. We are moving forward, too.”

The $25 million investment will benefit historically black colleges and universities in Virginia, Ohio, North Carolina and South Carolina, the news release said.

The scholarship fund will be open to students across the 20 states where the utility company has more than 7 million customers.