Titans of new industry spring $1 billion clean energy fund

By The Associated Press

 

WASHINGTON (AP) — Some big names with big money have jumped into the energy race.

The Breakthrough Energy Coalition, which counts among its members Bill Gates, Mark Zuckerberg, George Soros, Saudi Arabia's Prince Alwaleed bin Talal and Richard Branson, announced a $1 billion investment fund to support new energy ventures.

The new group is holding a news conference Monday to outline its goals.

The coalition wants to magnify the speed and scale at which promising energy breakthroughs are introduced to the $6 trillion energy market.

In a printed statement, Gates said, "Our goal is to build companies that will help deliver the next generation of reliable, affordable, and emissions-free energy to the world."

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs