• 8 minutes U.S. Shale Oil Debt: Deep the Denial
  • 13 minutes WTI @ $75.75, headed for $64 - 67
  • 16 minutes Trump vs. MbS
  • 2 hours Knoema: Crude Oil Price Forecast: 2018, 2019 and Long Term to 2030
  • 9 hours Nuclear Pact/Cold War: Moscow Wants U.S. To Explain Planned Exit From Arms Treaty
  • 10 hours Why I Think Natural Gas is the Logical Future of Energy
  • 10 hours Merkel Aims To Ward Off Diesel Car Ban In Germany
  • 2 hours Get on Those Bicycles to Save the World
  • 9 hours A $2 Trillion Saudi Aramco IPO Keeps Getting Less Realistic
  • 6 hours Iraq war and Possible Lies
  • 1 day Satellite Moons to Replace Streetlamps?!
  • 1 day Closing the circle around Saudi Arabia: Where did Khashoggi disappear?
  • 1 day Can “Renewables” Dent the World’s need for Electricity?
  • 16 hours Long-Awaited Slowdown in China Exports Still Isn’t Happening
  • 3 hours EU to Splash Billions on Battery Factories
  • 19 hours Can the World Survive without Saudi Oil?
Uncovering The Truth Behind The Khashoggi Disappearance

Uncovering The Truth Behind The Khashoggi Disappearance

The disappearance of self-exiled journalist…

The Dark Horse Of The Oil Price Rally

The Dark Horse Of The Oil Price Rally

Vietnam is set to break…

Gates And Other Mega Investors Launch $1B Clean Energy Fund

Bill Gates

Bill Gates, Jeff Bezos, Richard Branson and other billionaire investors worth a combined fortune of US$170 billion are launching on Monday the Breakthrough Energy Ventures (BEV) fund, committing to invest more than US$1 billion in clean energy technologies.

Investor-led fund Breakthrough Energy Ventures aims at financing emerging energy breakthroughs that can deliver affordable and reliable zero carbon emissions, BEV said in a statement.

Apart from Gates, Bezos and Branson, BEV’s board and investors include the co-founder of LinkedIn, Reid Hoffman; Jack Ma, the executive chairman of China’s Alibaba Group; and Hasso Plattner, the co-founder & chairman of Germany’s , to name but a few.

According to estimates of individual wealth by Bloomberg and Forbes, BEV’s directors have a combined net worth of almost US$170 billion.

The fund will review four criteria when deciding what to invest in. BEV’s investment criteria are as follows:

1) Climate impact: This includes technologies with the potential to reduce greenhouse gas emissions by at least half a gigaton.
2) Investment Prowess: This would evaluate companies that have the potential to attract capital other than BEV.
3) Technologies with scientific proof of concept
4) Companies that need BEV for flexible investment capabilities and a significant global network

Related: The Bulls Are Back: Oil Spikes As Non-OPEC Pledges 558,000 Bpd Cut

The BEV fund will invest across several sectors: electricity generation and storage, transportation, industrial use, agriculture, and energy system efficiency. The investors would be looking for both novel technology developers and those who strive to make technology dramatically cheaper, more scalable, or more efficient. Rapid scaling potential would be the key investment factor, it said in its principles and approach to future investment.

It should not come as surprise that Bill Gates is leading such a venture into clean energy. Microsoft Corporation said last month that it was in the process of converting its datacenter in Cheyenne Wyoming to rely entirely on wind energy.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News