To finance the search for emerging energy sources, spur clean energy technology, and help reduce global greenhouse gas emissions, Microsoft co-founder Bill Gates and some of his mates have decided to invest $1 billion in a fund.
Gates has gathered a group of high-profile executives to announce the launch of Breakthrough Energy Ventures (BEV), an investment fund that will help to deliver cheap and reliable clean energy to the world.
The group includes John Doerr, Vinod Kholsa, John Arnold, Amazon.com CEO Jeff Bezos, Mike Bloomberg the Bloomberg LP founder, Alibaba founder Jack Ma, and a handful of other like-minded people, according to Forbes. You can see a list of the rest of the investors here.
The fund has a 20-year duration and is supposed to begin making investments next year.
These investments will fund the commercialization of technologies that will reduce greenhouse-gas emissions by improving industrial processes, transportation, energy systems, and agriculture—“Anything that leads to cheap, clean, reliable energy,” stated Bill Gates.
In a post on his Gates Notes blog, Gates said the fund will invest in “scientific breakthroughs that have the potential to deliver cheap and reliable clean energy to the world.”
“We need affordable and reliable energy that doesn’t emit greenhouse gas to power the future—and to get it, we need a different model for investing in good ideas and moving them from the lab to the market,” Gates said in his post.
Go, folks, and make the planet green again 😉
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