Titans of new industry spring $1 billion clean energy fund
Posted by Chris in Tampa
on 12/12/2016, 11:21 pm
|"Some big names with big money say they plan to put more than $1 billion into developing technologies that will reduce greenhouse-gas emissions and lower the price of energy.|
Bill Gates said the fund plans to make its first investments next year and run for 20 years. A year ago, the co-founder of Microsoft Corp. started the Breakthrough Energy Coalition, whose members include Mark Zuckerberg, George Soros and Richard Branson, with a commitment to invest in new types of energy."
"Mr. Gates, the billionaire co-founder of Microsoft, announced on Monday the start of a fund to invest in transformative energy research and development to reduce the emissions that cause climate change."
"Mr. Gates's new investment fund, Breakthrough Energy Ventures, is intended to capitalize on the government-backed research through partnerships with the University of California system and other institutions."
"The fund will consider investing in electricity generation and storage, transportation, agriculture and energy-system efficiency. Seed money for start-ups and projects ready for commercialization, among other efforts, will be considered, fund officials said."
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Titans of new industry spring $1 billion clean energy fund - Chris in Tampa, 12/12/2016, 11:21 pm
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