A team of high profile investors is moving towards the biggest project of all times. Recently a $1 billion venture fund has been devoted for clear energy technology i.e. Breakthrough Energy Ventures (BEV). This project is based on a broad spectrum that includes affordable, clean, and reliable energy for people around the world.
The team consists of a number of industry leaders and top investors including Microsoft’s confounder and Amazon’s CEO, Richard Branson, Ray Dalio of Bridgewater Associates, Kliener Perkin’s Jhon Doerr, Reid Hoffman the confounder f LinkedIn, Vinod Khosla from Khosla Ventures, the exec chairman of Alibaba Jack Ma, Dustin Moskovitz who is the confounder-turned-investor of Facebook, and Masayoshi Son who is the CEO of Softbank.
This could be the richest group of investors with a total wealth of $170 billion in combined state as it has some huge names as investors. This step is being taken with the aim to deal the issue of climate change and to provide humanity with a renewable energy sources with the help of green and clean technology.
According to the statement on BEV’s website this coalition is a partnership dedicated to a bigger investment for new energy technologies. Around 20 countries have dedicated their investments to increase the basic research that can lead to innovations in this sector. BEV actually focuses on emissions in five major areas including transportation, electricity, building, manufacturing, and agriculture. Bill Gates has also directed all his efforts towards philanthropic work. Bill & Melinda Gates’s Foundation is working on sanitation solutions for eradicating malaria from different areas.
This Breakthrough Energy Coalition was launched in 2015 by Gates and other tech leaders including Mark Zuckerber, facebook’s CEO. This project attracted 25 or more investors to tackle the climate change around the world. According to the organization, the basic purpose of this venture is to benefit people with affordable energy. Without contributing to greenhouse gas emissions, provision of food, goods, transportation, power, and services to everyone is just a delusion. This purpose requires a huge amount of investment for reshaping the innovation perspectives. For solving issues regarding climate change, public and private capital will have to work as teams around different parts of the word.
Via: Business Insider