Wealthy Investors Form New Energy Endeavor

http://biofuels-news.com/display_news/11537/bill_gates_and_other_wealthy_investors_form_new_energy_venture/

Bill Gates, Jeff Bezos, Vinod Khosla, Jack Ma, John Doerr and 15 other high-profile investors have formed a new venture firm, Breakthrough Energy Ventures (BEV). The project will pour at least $1 billion into "cleantech" companies in the next 20 years.

The firm's goal will be "to provide everyone in the world with access to reliable, affordable power, food, goods, transportation, and services without contributing to greenhouse gas emissions." BEV will invest in technology ventures at any stage, from seed through commercialization. The deals will focus mainly on electricity, manufacturing, agriculture, buildings and transportation.

"I am honored to work along with these investors to build on the powerful foundation of public investment in basic research," said Bill Gates. "Our goal is to build companies that will help deliver the next generation of reliable, affordable, and emissions-free energy to the world."

Further details on the group's ambitions and investment strategy are expected to be revealed before the year ends.


 

This article is part of the Crop Biotech Update, a weekly summary of world developments in agri-biotech for developing countries, produced by the Global Knowledge Center on Crop Biotechnology, International Service for the Aquisition of Agri-Biotech Applications SEAsiaCenter (ISAAA)

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