Bill Gates and a dozen of the world’s wealthiest back clean energy with $1 billion fund

Former CEO of Microsoft Bill Gates has emboldened more in the fight against air pollution. Gates, and more than twelve other wealthy individuals initiated a $1 billion fund together to work towards providing clean and productive energy for the future, according to Bloomberg.

The Breakthrough Energy Ventures fund is an initiative to siphon money into long-term energy technology aimed towards a future where carbon emission is reduced or eliminated. The name is a direct representation of the Breakthrough Energy Coalition that was formed last year, the fund being a branch to include other investors into the cause.

The fund is lead by these entrepreneurs and scientists that want to use the latest research and determine the best placement of the money. This includes technologies that reduce greenhouse gas emissions, putting money into companies with potential to aid the cause, and investing into scientific proof of concepts that can be ‘meaningfully advanced’.

Among these investors are Jeff Bezos from Amazon, Prince Alwaleed Bin Talal of Kingdom Holding, and billionaire natural gas trader John Arnold.

“I am honored 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.”

To illustrate how they intend to go about lowering carbon, the Breakthrough Energy Ventures investors released a public PDF. Basically, the roadmap details 55 “Technical Quests” across five major industries: Electricity, Transportation, Agriculture, Manufacturing, and Buildings. Building up the global network of the initiative, the funding is intended to support advancements one step at a time to cleaner air. This includes targeting the production of low CHG manufacturing materials and building low-cost wind, solar, and ocean energy alternatives.

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