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."