Bill Gates is launching $1 billion fund, called Breakthrough Energy Ventures (BEV), to invest in new forms of clean energy. Gates has gathered a group of about 20 like-minded investors, including Silicon Valley venture capitalist John Doerr and Vinod Khosla, former hedge manager John Arnold, Amazon.com CEO Jeff Bezos, Alibaba founder Jack Ma, Virgin group founder Richard Branson and a handful of others to join him in the fund.
BEV has spelled out five “grand challenges” which it says are the biggest contributors to greenhouse gas emissions around the world: electricity, buildings, manufacturing, transportation and food.
“We need affordable and reliable energy that does not 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 said in a post on his Gates Notes blog.
Source: Forbes.com