One year after a powerhouse group of technology executives and venture capital icons met to form the Breakthrough Energy Coalition, the group, led by Microsoft founder Bill Gates, has launched a US$1 billion investment fund to support clean energy startups around the world.
The Breakthrough Energy Fund, chaired by Gates, is designed to jumpstart an entire new generation of entrepreneurs developing radical new approaches to providing reliable and low-cost energy, with zero carbon emissions as the end goal.
Institutional partners, including the University of California, will help generate research ideas. Strategic partners, including Southern Co. and others, will help the group with regulatory issues, and figure out which companies have the most promise.
In addition to Gates, co-chair of the Bill and Melinda Gates Foundation, the Breakthrough Energy Coalition’s board members include John Arnold, co-chair of the Laura and John Arnold Foundation; John Doerr, chair of Kleiner, Perkins, Caufield & Byers; and Vinod Khosla, founder of Khosla Ventures.