Menu
Gates, Bezos, others launch energy tech VC fund

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."


Follow Us

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.

Featured

Slideshows

The making of an MSSP: a blueprint for growth in NZ

The making of an MSSP: a blueprint for growth in NZ

Partners are actively building out security practices and services to match, yet remain challenged by a lack of guidance in the market. This exclusive Reseller News Roundtable - in association with Sophos - assessed the making of an MSSP, outlining the blueprint for growth and how partners can differentiate in New Zealand.

The making of an MSSP: a blueprint for growth in NZ
Reseller News Platinum Club celebrates leading partners in 2018

Reseller News Platinum Club celebrates leading partners in 2018

The leading players of the New Zealand channel came together to celebrate a year of achievement at the inaugural Reseller News Platinum Club lunch in Auckland. Following the Reseller News Innovation Awards, Platinum Club provides a platform to showcase the top performing partners and start-ups of the past 12 months, with more than ​​50 organisations in the spotlight.​​​

Reseller News Platinum Club celebrates leading partners in 2018
Meet the top performing HP partners in NZ

Meet the top performing HP partners in NZ

HP has honoured its leading partners in New Zealand during 2018, following 12 months of growth through the local channel. Unveiled during the fourth running of the ceremony in Auckland, the awards recognise and celebrate excellence, growth, consistency and engagement of standout Kiwi partners.

Meet the top performing HP partners in NZ
Show Comments