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The Nobel Prize in Chemistry is awarded annually by the Royal Swedish Academy of Sciences to scientists in the various fields of chemistry. It is one of the five Nobel Prizes established by the will of Alfred Nobel in 1895, awarded for outstanding contributions in chemistry, physics, literature, peace, and physiology or medicine. This award is administered by the Nobel Foundation and awarded by Royal Swedish Academy of Sciences on proposal of the Nobel Committee for Chemistry which consists of five members elected by Academy. The award is presented in Stockholm Sweden at an annual ceremony on December 10, the anniversary of Nobel's death.
Chemistry was the most important science for Alfred Nobel’s own work. The development of his inventions as well as the industrial processes he employed were based upon chemical knowledge. Chemistry was the second prize area that Nobel mentioned in his will.
The members of the Norwegian Nobel Committee that were to award the Peace Prize were appointed shortly after the will was approved. The prize-awarding organizations followed: the Karolinska Institutet on June 7, the Swedish Academy on June 9, and the Royal Swedish Academy of Sciences on June 11. The Nobel Foundation then reached an agreement on guidelines for how the Nobel Prize should be awarded. In 1900, the Nobel Foundation's newly created statutes were promulgated by King Oscar II. According to Nobel's will, The Royal Swedish Academy of Sciences were to award the Prize in Chemistry.
The committee and institution serving as the selection board for the prize typically announce the names of the laureates in October. The prize is then awarded at formal ceremonies held annually on December 10. "The highlight of the Nobel Prize Award Ceremony in Stockholm is when each Nobel Laureate steps forward to receive the prize from the hands of His Majesty the King of Sweden. The Nobel Laureate receives three things: a diploma, a medal and a document confirming the prize amount" ("What the Nobel Laureates Receive").
A maximum of three laureates and two different works may be selected. The award can be given to a maximum of three recipients per year. It consists of a gold medal, a diploma, and a cash grant.