Bill Gates leads US$1 billion investment in clean energy

Facebook
Twitter
LinkedIn
Reddit
Email
Breakthrough Energy Ventures, an investor-led fund, will finance emerging energy breakthroughs that can deliver affordable and reliable zero carbon emissions. Source: Flickr/OnInnovation

A consortium of investors led by tech entrepreneur and philanthropist Bill Gates is backing a new US$1 billion fund for clean energy technology.

The high-profile investors include Richard Branson, Amazon founder Jeff Bezos, LinkedIn co-founder Reid Hoffman and Jack Ma – the founder of Chinese e-commerce group Alibaba.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The fund, known as Breathrough Energy Ventures, (BEV) will filter investment into “anything that leads to cheap, clean, reliable energy,” Gates told news outlet Quartz. Quartz suggests that, with the group's combined total wealth of US$170 billion, it could be the “richest group of investors ever assembled”.

“The Breakthrough Energy Coalition is a partnership committed to broad investment in new energy technologies,” a post on the BEV website reads. “We are investing our own capital and are working with over 20 countries around the world who have committed to significantly increase their investments in the basic research that leads to breakthrough innovations.

“To provide reliable and affordable power without contributing to climate change we need to address emissions in five key areas: electricity, transportation, agriculture, manufacturing, and buildings.”

With the backing of some of the world’s biggest names in business, the launch of BEV is a serious force to tackle the perennial issue of climate change through investment in clean technologies. However, the former Microsoft CEO has been vocal about being less than a fan of solar energy; one of the largest growing sources of alternate energy generation; even saying in a recent address in South Africa that solar is not the solution the continent seeks and maintains that it will do little to solve the overarching problem of global warming.

Regardless, the 20-year fund that was founded in November 2015 states that its missions will be procure public and private investment to foster major advances in clean energy production, transport and agriculture.

“I am honoured to work along with these investors to build on the powerful foundation of public investment in basic research,” Gates said in a statement. “Our goal is to build companies that will help deliver the next generation of reliable, affordable, and emissions-free energy to the world.”

21 May 2024
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 21-22 May 2024, will be our third PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2025 and beyond.
8 October 2024
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 8-9 October 2024 is our second PV CellTech conference dedicated to the U.S. manufacturing sector. The event in 2023 was a sell out success and 2024 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 10, 2024
Dallas, Texas USA
Solar Media Events
April 17, 2024
Lisbon, Portugal
Solar Media Events
May 1, 2024
Dallas, Texas
Solar Media Events
May 21, 2024
Napa, USA