• 4 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 7 minutes Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 13 minutes NordStream2
  • 14 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 5 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 8 hours California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 19 hours "Here is The Hidden $150 Trillion Agenda Behind The "Crusade" Against Climate Change" - Zero Hedge re: Bank of America REPORT
  • 7 hours Did China cherry-pick the factors that affected the economic slow-down?
  • 5 days "A Very Predictable Global Energy Crisis" by Irina Slav --- MUST READ
  • 2 days U.S. : Employers Can Buy Retirement Security for $2.64 an Hour
  • 3 days Nord Stream - US/German consultations
  • 409 days Class Act: Bet You've Never Seen A President Do This.
  • 5 days An Indian Opinion on What is Going on in China
  • 2 days Forecasts for Natural Gas
  • 2 days Australia sues Neoen for lack of power from its Tesla battery
  • 5 days Storage of gas cylinders
  • 5 days Can Technology Keep Coal Plants Alive and Well?
Renewables Need Big Oil To Thrive

Renewables Need Big Oil To Thrive

Despite activist critiques, the renewable…

VC Firms Are Pouring Billions Of Dollars Into Green Tech

VC Firms Are Pouring Billions Of Dollars Into Green Tech

Green technology is quickly emerging…

MINING.com

MINING.com

MINING.com is a web-based global mining publication focusing on news and commentary about mining and mineral exploration. The site is a one-stop-shop for mining industry…

More Info

Premium Content

Bezos And Gates Backed Fund To Invest In Clean Energy Startups

Breakthrough Energy Ventures (BEV), the clean-tech fund backed by well-known billionaires including Bill Gates, Jeff Bezos and Michael Bloomberg, has raised $1 billion for the second time in four years to help start-ups capable of drastically cutting global emissions.

Founded in 2016, the venture capital fund backed 45 emerging companies with its first billion and it is now planning to support between 40 and 50 emerging businesses.

To be eligible for BEV’s money, a start-up needs to showcase a scientifically sound technology that has the potential to reduce annual global greenhouse-gas emissions by at least 500 million tonnes a year. Global emissions currently measure about 34 billion tonnes a year, partly thanks to curtailment of global economic activity and mobility in 2020 due to the covid-19 pandemic.

Investors’ new favourite

Investment in green technologies has soared in the past two years. According to the latest PwC report on the matter, venture capital money flowing into start-ups that can help cut emissions hit $16 billion in 2019 from $400 million in 2013 — a 40-times increase.

BEV’s first billion was directed to companies developing complex technologies to support clean cobalt and lithium miningelectric aviationhydropower turbines and, most recently, emissions-free steel.

VC investment in Climate Tech and number of deals
Taken from The State of Climate Tech 2020: The next frontier for venture capital, by PwC.

 “We have built a great technical team and our ability to close a second fund is a testament to their good work,” Eric Toone, BEV’s technical lead, told Bloomberg News.

The fund has had some newsworthy wins. QuantumScape (NYSE: QS), which makes next-generation lithium-ion batteries, listed on the New York Stock Exchange in September. Its market capitalization is currently close to $20 billion, up from $3 billion, even though its batteries won’t be available before 2025. 

By Mining.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News