Breakthrough Energy

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Breakthrough Energy
Company typePrivate
IndustryEnergy
Founded2015; 9 years ago (2015)
FounderBill Gates
Headquarters
Kirkland, Washington
Websitebreakthroughenergy.org
Bill Gates in 2023 This article is part of
a series about
Bill Gates
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Breakthrough Energy is the umbrella name of several organizations, founded by

biofuels.[1]

History

At the 2015 United Nations Climate Change Conference in November 2015, Gates announced that a coalition of 28 high net-worth investors from ten countries had committed to the Breakthrough Energy initiative. A complementary initiative of Gates, Mission Innovation, was announced at the same time.[2]

In December 2016, a group of investors collectively worth US$170 billion announced more personal commitment to funding the efforts of a US$1 billion fund "focused on fighting climate change by investing in clean energy innovation." The fund is named Breakthrough Energy Ventures fund.[3]

Strategy

At its inception, Gates explained, "The renewable technologies we have today, like wind and solar, have made a lot of progress and could be one path to a zero-carbon energy future... But given the scale of the challenge, we need to be exploring many different paths."

venture capitalists look for a return on investment in five years, which may not be enough for the special challenges of the energy sector.[1]

Members

The group is spearheaded by Bill Gates, who previously announced a personal $2 billion investment,[5] and includes:[6][7][8]

Criticism

There has been criticism that the coalition was announced too early, before crucial details had been confirmed. At launch, a Gates Foundation spokesman confirmed that investment professionals had yet to be appointed, named investors—other than Gates—had not publicly stated their level of investment and a financial structure had not been confirmed.[12]

Notable projects

  • Blue Frontier - a startup developing new
    air-conditioning technologies[13]

Some of the activities include how to connect producers and consumers of green hydrogen.[26]

See also

References

  1. ^ a b "Billionaire-Backed Breakthrough Energy Ventures Makes 7 More Investments". www.greentechmedia.com. Retrieved 2020-11-23.
  2. National Archives
    .
  3. ^ Delaney, Kevin (12 December 2016) Bill Gates and investors worth $170 billion are launching a fund to fight climate change through energy innovation Quartz, Quartz Media, Inc. Retrieved 1 January 2019
  4. ^ Milman, Oliver (30 November 2015). "Zuckerberg, Gates and other tech titans form clean energy investment coalition". The Guardian. Retrieved 1 December 2015.
  5. ^ Chhabra, Esha. "Bill Gates Rallies With Tech Leaders To Launch A Multi-Billion Dollar Energy Fund". Forbes. Retrieved 30 November 2015.
  6. Condé Nast Publications
    . Retrieved 30 November 2015.
  7. The Huffington Post
    . The Huffington Post Media Group. Retrieved 30 November 2015.
  8. ^ Cooper, Anderson (15 February 2021). "Bill Gates: How the World Can Avoid a Climate Disaster". 60 Minutes. CBS News. Retrieved 17 February 2021.
  9. ^ "BEV Board and Investors | Breakthrough Energy". breakthroughenergy.org. Retrieved 2023-10-11.
  10. Hearst Corporation
    . Retrieved 30 November 2015.
  11. ^ "Mukesh Ambani's RIL to invest $50 mn in Bill Gates' Breakthrough Energy Ventures". The Financial Express. 2020-11-13. Retrieved 2020-11-23.
  12. Time, Inc.
    Retrieved 2 December 2015.
  13. ^ Clifford, Catherine (2022-07-28). "Air conditioning is a climate disaster and Bill Gates is investing in this startup to fix it". CNBC.
  14. ^ "Verdox Captures $80M to Develop Novel Electric Carbon Removal Technology". Business Wire. Berkshire Hathaway. February 2, 2022. Retrieved July 7, 2022.
  15. ^ Rathi, Akshat (February 2, 2022). "Bill Gates Invests in Carbon Capture Startup After Tech Breakthrough". Bloomberg News. Retrieved July 7, 2022.
  16. ^ Clifford, Catherine (May 7, 2022). "Carbon capture challenges are not deterring investor at Bill Gates' firm". CNBC. Retrieved July 7, 2022.
  17. ^ Chandler, David (October 24, 2019). "MIT engineers develop a new way to remove carbon dioxide from air". MIT News. Massachusetts Institute of Technology. Retrieved July 18, 2022.
  18. ^ Stauffer, Nancy W. (July 9, 2020). "A new approach to carbon capture". MIT News. Massachusetts Institute of Technology. Retrieved July 18, 2022.
  19. S2CID 208719788
    .
  20. ^ Brabant, Malcolm (August 23, 2016). "To combat climate change, these scientists are turning CO2 into rock". PBS NewsHour. WETA-TV. Retrieved July 18, 2022.
  21. ^ "Verdox Wins $1M XPRIZE Carbon Removal Award Together with Partner Carbfix". Business Wire. Berkshire Hathaway. April 22, 2022. Retrieved July 18, 2022.
  22. ^ "XPRIZE and the Musk Foundation Award $15M to Prize Milestone Winners in $100M Carbon Removal Competition". X Prize Foundation. April 22, 2022. Retrieved July 18, 2022.
  23. ^ Clifford, Catherine (February 8, 2021). "The who, what and where of Elon Musk's $100 million prize money for carbon capture innovation". CNBC. Retrieved July 7, 2022.
  24. ^ Chappell, Bill (February 8, 2021). "Elon Musk Funds $100 Million XPrize For Pursuit Of New Carbon Removal Ideas". NPR. Retrieved July 7, 2022.
  25. ^ "Breakthrough Energy Ventures backs methanol fuel cell company Blue World Technologies". Green Car Congress.
  26. ^ Collins, Leigh (11 January 2022). "How to make expensive green hydrogen commercially viable today — without subsidies | Recharge". Recharge | Latest renewable energy news. Archived from the original on 11 January 2022.
Bundled references
  1. ^ [20][21][22][23][24]

External links

Retrieved from "https://en.wikipedia.org/w/index.php?title=Breakthrough_Energy&oldid=1179709107"