Breakthrough Energy Ventures is a group of investors who have chosen to work together in a new investment fund that is patient, flexible, and committed to the guiding principles of the Breakthrough Energy Coalition resulting in a reliable, affordable energy for the world and a carbonless future.
The coalition is driven by the principle that technology will help solve our energy issues, feed the world, and produce goods without emitting greenhouse gases.
The partnership is between governments, research institutions, and investors. Scientists, engineers, and entrepreneurs can invent and scale the innovative technologies that will limit the impact of climate change while providing affordable and reliable energy to everyone.
The BEV fund which has a 20 year duration will kick off next year with an early, broad, and wise investment in the commercialization of new technologies that reduce greenhouse-gas emissions in areas including electricity generation and storage, transportation, industrial processes, agriculture, and energy-system efficiency.
Bill Gates is serving as the chairman of the fund with the following as directors;
- Jack Ma (Founder Alibaba)
- Mukesh Ambani (Reliance Industries chairman)
- John Doerr (Venture Capitalists)
- Vinod Khosla (Venture Capitalist)
- John Arnold (Former energy hedge fund manager)
- Hasso Plattner (SAP cofounder)
Based on their individual wealth estimates by Bloomberg and Forbes, the combined net worth of the directors is nearly $170 billion.
The BEV fund also boasts of a comprehensive list of some of the world’s richest and most powerful, funding is also anticipated to increase as more investors come on board.