Gates, Bezos, others launch energy tech VC fund

The new VC firm will focus on next-generation, zero-carbon energy technologies

Microsoft founder Bill Gates, Amazon.com CEO Jeff Bezos, and SoftBank CEO Masayoshi Son are investors in a new clean energy technology venture firm launched Monday.

Breakthrough Energy Ventures, a US$1 billion venture capital fund, will focus on "next generation technologies to provide reliable, affordable, zero-carbon energy, food, and products to the world," according to its website.

Other investors include Virgin Group founder Richard Branson, LinkedIn co-founder Reid Hoffman, Alibaba Group Executive Chairman Jack Ma, and Kleiner Perkins Caufield & Byers Chairman John Doerr.

The new VC firm was started to "address the challenges in investing in new energy technologies while taking advantage of a huge investment opportunity," its website said.

The global energy market is now worth $6 trillion, and energy demand is expected to grow by a third by 2040, the firm said. "In addition, the urgency of climate change and the commitment of countries around the world to limit emissions requires an aggressive global push for zero-emission energy innovation," the firm added.

The firm's investments will be based on four criteria:

--Technologies that have the potential of reducing greenhouse gas emissions by at least half a gigaton;

-- Companies with potential to attract funding from other sources;

-- Technologies with an existing scientific proof of concept that also can be advanced;

-- Companies that need the "unique" attributes of the VC firm, including patience, judgment by scientific milestones, flexible investment capabilities, and a large global network.

Breakthrough Energy Ventures is an arm of the Breakthrough Energy Coalition, a large group of people and organization committed to investing in new energy technologies. Breakthrough Energy Ventures is one of the investment efforts of the coalition.

The coalition also advocates for government investment in clean energy technologies.

"Collaboration between the public and private sector leads to meaningful innovations," its website said. "We have seen big successes in the past, with government-funded research programs in space, defense, technology, and medical research spurring private creativity to produce many of the innovations that define our current way of life."

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Grant Gross

IDG News Service
Show Comments

Father’s Day Gift Guide

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Laura Johnston

MSI GS65 Stealth Thin

If you can afford the price tag, it is well worth the money. It out performs any other laptop I have tried for gaming, and the transportable design and incredible display also make it ideal for work.

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?