Bill Gates is leading a more than $1 billion fund focused on fighting climate change by investing in clean energy innovation. The Microsoft co-founder and his all-star line-up of fellow investors plan to announce tomorrow the Breakthrough Energy Ventures fund, which will begin making investments next year. The BEV fund, which has a 20-year duration, aims to invest in the commercialization of new technologies that reduce greenhouse-gas emissions in areas including electricity generation and storage, transportation, industrial processes, agriculture, and energy-system efficiency.
“Anything that leads to cheap, clean, reliable energy we’re open-minded to,” says Gates, who is serving as chairman of BEV and anticipates being actively involved.
In 2015, Bill Gates announced the “Breakthrough energy coalition” uniting the efforts of two dozens of other billionaire philanthropists such as Richard Branson, Mark Zuckerberg, and Jeff Bezos to sponsor energy that doesn’t produce carbon.
The Breakthrough Energy Coalition is committed to helping accelerate the cycle of innovation through investment, partnership, and thought leadership.