Bill Gates among investors launching $1 billion clean tech fund

December 12, 2016

Microsoft co-founder Bill Gates has teamed up with some high-profile executives to spur along clean energy technology. They’ve invested $1 billion in a fund called Breakthrough Energy Ventures Fund.

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Gates launched the fund on Monday (Dec 12) along with billionaire entrepreneurs like Facebook Inc head Mark Zuckerberg, Alibaba Group Holding Ltd Chairman Jack Ma and Amazon.com chief Jeff Bezos.

The fund seeks to increase financing of emerging energy research and reduce global greenhouse gas emissions.

It marked the first major investment of the coalition formed in Paris in December 2015 to spur research, development and deployment of clean energy technologies.

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“We need affordable and reliable energy that doesn’t emit greenhouse gas to power the future and to get it, we need a different model for investing in good ideas and moving them from the lab to the market,” Gates told online magazine Quartz.

“The dialogue with the new administration as it comes in about how they see energy research will be important…the general idea that research is a good deal fortunately is not a partisan thing,” Gates told Quartz.

On a call with reporters Monday, Gates said coalition members would continue to push the message to Trump that “even if you don’t look at the climate change piece of this, investing makes sense.”

 

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